News & Analysis as of

Retirement Plan Department of Labor (DOL) Beneficiaries

Verrill

DOL Updates Model Annual Funding Notices for SECURE 2.0

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On April 3, 2025, the Department of Labor issued Field Assistance Bulletin No. 2025-02 (the FAB), providing initial guidance and updated models for defined benefit plan Annual Funding Notices that comply with the notice...more

Alston & Bird

Department of Labor’s Temporary Policy Allows Voluntary Escheatment of Certain Retirement Benefits

Alston & Bird on

In this article, the authors delve into the Department of Labor’s temporary ERISA enforcement policy for unclaimed retirement benefit payments of $1,000 or less. The Department of Labor (DOL) has announced a temporary...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - February 2025

The February Monthly Minute highlights a new online ACA reporting alternative, the DOL’s temporary policy regarding escheatment of small retirement benefits owed to missing participants, and new guidance clarifying the gag...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - January 2025

The January Monthly Minute highlights a recent Texas court decision holding ESG investing violated ERISA and a new development in the J&J prescription drug case that found plaintiff lacked standing to sue, and also digs into...more

Morris, Manning & Martin, LLP

Voluntary Reporting for a Mandatory Database: DOL’s New Approach for the SECURE Act 2.0 Retirement Savings Lost and Found

On April 15, the Department of Labor (“DOL”) published a Notice of Proposed Information Request (the “Notice”), outlining its plan to create the Retirement Savings Lost and Found required by SECURE Act 2.0.  Although...more

Seward & Kissel LLP

Action Steps for Managers of Private Investment Funds Subject to ERISA Prior to December 1, 2023 to Address the DOL’s Rule...

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If you manage a private investment fund that is subject to Title I of ERISA and is not a feeder fund (an “ERISA Fund”), you should, before December 1, 2023, take the steps described below in order to comply with the DOL’s...more

Verrill

Department of Labor Guidance and Federal Initiatives Counsel a Wait-and-See Approach for 401(k) Plan Fiduciaries Interested in...

Verrill on

On March 10, 2022, the Department of Labor published Compliance Assistance Release 2022-01, 401(k) Plan Investments in “Cryptocurrencies”. The Release strongly discourages the addition of cryptocurrency (and other digital...more

Bass, Berry & Sims PLC

DOL Begins Audit of Retirement Plans for Cybersecurity Shortfalls

Bass, Berry & Sims PLC on

To increase protections for the estimated $9.3 trillion in American retirement assets, the Department of Labor (DOL) has begun a new cybersecurity audit initiative for retirement plans. After providing its first set of...more

Ballard Spahr LLP

DOL Issues Guidance for Locating Missing Participants and Beneficiaries

Ballard Spahr LLP on

Summary - The United States Department of Labor (DOL) issued guidance to assist plan fiduciaries in fulfilling their ongoing obligation of locating missing or nonresponsive participants and distributing benefits to such...more

K&L Gates LLP

DOL Creates New E-Delivery Safe Harbor for Retirement Plan Disclosures

K&L Gates LLP on

EXECUTIVE SUMMARY - The Department of Labor (DOL) published final regulations that make significant strides in reducing barriers to the electronic delivery of a wide array of retirement plan disclosures. Specifically, the...more

Faegre Drinker Biddle & Reath LLP

New DOL Electronic Disclosure Rules – What You Need to Know

The Department of Labor (DOL) issued final electronic disclosure rules for retirement plans on May 27, 2020 (2020 Safe Harbor). We are already fielding questions about these new rules and have provided answers here to some of...more

Eversheds Sutherland (US) LLP

Videocast: Asset management regulation in 2020 videocast series – DOL: What’s ahead

Over the next year, the Department of Labor (DOL) will likely be issuing guidance in a number of areas that could impact asset managers and financial services companies. In this Bottom Line videocast, Carol McClarnon and...more

Eversheds Sutherland (US) LLP

Congress delivers SECURE and more in year-end benefits bonanza

On December 20, 2019, President Trump signed into law the Further Consolidated Appropriations Act, 2020 (the “Appropriations Act”), a comprehensive government funding bill that includes substantial employee benefits-related...more

Snell & Wilmer

Potential $2.4 Billion and Countless Trees Saved – Department of Labor’s Proposed Rule on Electronic Disclosure for Retirement...

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The Department of Labor recently issued a proposed rule that allows certain retirement plan disclosures to be posted online, rather than requiring such disclosures to be printed and mailed. The Department of Labor anticipates...more

Verrill

DOL Proposes New Electronic Disclosure Rules for Retirement Plans

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At long last, the Department of Labor (DOL) has issued an update to its safe harbor rules governing electronic distributions of retirement plan disclosures. When finalized and adopted, the new safe harbor rules will update...more

Bass, Berry & Sims PLC

DOL Proposed Rule on Electronic Disclosures Could Help Alleviate Costs and Burdens on Employers and ERISA Plan Administrators

Bass, Berry & Sims PLC on

On October 23, 2019, the Department of Labor (DOL) published a proposed rule that, if finalized in its current form, would make it easier for retirement plan administrators to use electronic media to furnish information to...more

Proskauer Rose LLP

ERISA Newsletter - Second Quarter 2018

Proskauer Rose LLP on

As we head into the thick of summer, all eyes are on President Trump's nomination to the U.S. Supreme Court to replace retiring Justice Anthony Kennedy and the impact the new Justice will have on shaping the law for...more

Stinson - Benefits Notes Blog

Send Out the Search Party: The DOL and Other Agencies Focus on Plan Efforts to Locate Missing Participants (Part 1)

In the past year, the Department of Labor (DOL) has drastically increased audits of retirement plans with participants – or beneficiaries – who cannot be located in conjunction with the distribution of owed benefits. ...more

Kilpatrick

IRS Issues Memo on Missing Participant Search Standards

Kilpatrick on

On October 19th, the IRS released a memorandum titled “Missing Participants and Beneficiaries and Required Minimum Distributions” (the “Memo”) to its plan auditors that provides guidelines for when a plan’s efforts to locate...more

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