News & Analysis as of

Retirement Plan Employee Benefits Financial Institutions

Seyfarth Shaw LLP

Changing Last Year’s Assumptions This Year: Gotcha or Copacetic?

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Just before its summer recess, the Supreme Court agreed to review whether multiemployer pension funds can impose withdrawal liability based on actuarial assumptions adopted after the relevant plan year. The expected decision...more

Bricker Graydon LLP

The Uncashed Check Conundrum - What Employers Need to Do

Bricker Graydon LLP on

A terminated employee moves and doesn’t tell you and the check for the small benefit forced out of your retirement plan gets returned. A participant requests a distribution and the check gets delivered, but it is never...more

Littler

Employers May Offer a New Benefit Through “Trump Accounts”

Littler on

The One Big Beautiful Bill Act (OBBBA), which was signed into law on July 4, 2025, establishes the pilot program for the “Trump account,” an investment account for U.S. citizens under age 18 with a social security number....more

A&O Shearman

UK Pensions: What’s new this week? July 7, 2025

A&O Shearman on

Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. FCA consultation on targeted support: relevance to...more

A&O Shearman

UK Pensions: What's new this week? 30 June, 2025

A&O Shearman on

Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Fidelity adds student match program

The 401(k) world has long been a place where innovation comes with a compliance manual and where “benefits” are often tied up in strings long before they reach employees. But sometimes, a change comes along that feels like a...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Being aggressive on your mistakes could be a bad idea

Many moons ago, I got a call from a bank with a problem. For two decades—yes, twenty years—they had failed to include bonuses as part of plan compensation. The kicker? They were supposed to. This wasn’t a gray area; the plan...more

A&O Shearman

UK moves to permanently exempt UK and EEA pension schemes from the derivatives clearing obligation

A&O Shearman on

A draft of the Pension Fund Clearing Obligation Exemption (Amendment) Regulations 2025 has been published alongside an explanatory memorandum. The draft Regulations will amend the UK European Market Infrastructure Regulation...more

Venable LLP

Self-Correction Now Available for Delinquent Participant Contributions and Loan Failures

Venable LLP on

The DOL recently updated the Voluntary Fiduciary Correction Program (VFCP). The VFCP encourages employers to voluntarily correct certain violations of ERISA to avoid DOL civil enforcement penalties....more

Jackson Lewis P.C.

Missing Participants – New State Unclaimed Property Fund Option for Small Balances

Jackson Lewis P.C. on

On January 14, 2025, the DOL issued Field Assistance Bulletin (FAB) 2025-01, providing sponsors and administrators of ongoing defined contribution plans with a new option for missing participant balances of $1,000 or less:...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Don’t Fall For These 401(k) Plan Provider Gimmicks

A “sales gimmick” is a term that refers to a method a business employs to immediately generate demand for its product or service. I just bought Fan Fest tickets 6 months in advance because they were giving me a $30...more

A&O Shearman

Pensions: DC Trustee agenda update - October 2024

A&O Shearman on

Welcome to our monthly update on current legal issues for trustees of DC pension schemes, designed to help you stay up to date with key developments between trustee meetings and to support the legal update item on your next...more

A&O Shearman

Pensions: DC trustee agenda update - September 2024

A&O Shearman on

Welcome to our monthly update on current legal issues for trustees of DC pension schemes, designed to help you stay up to date with key developments between trustee meetings and to support the legal update item on your next...more

Mayer Brown

The Pensions Brief: June 2024

Mayer Brown on

Issues affecting all schemes - General Election – impact on pensions - The General Election resulted in a landslide victory for the Labour Party. While no pensions-related announcements have been made since the election by...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (36): Confusion about Annual Retrospective Reviews

The Department of Labor has issued its final regulation defining fiduciary status for investment advice to retirement investors and the related exemptions for prohibited conflicts—PTE 2020-02 and 84-24. The exemptions provide...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (33): The DOL’s Final PTE 84-24

On April 25, 2024, the Department of Labor published its final regulation defining fiduciary status for investment advice and the related exemptions—PTE 2020-02 and 84-24. The exemptions provide relief from prohibited...more

K&L Gates LLP

QPAM Exemption Amendment—Key Takeaways and Action Steps for Advisors and Other Stakeholders

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Executive Summary - Many investment advisers and other financial institutions rely on the Department of Labor’s QPAM Exemption when providing services to, and transacting with, employer-sponsored retirement plans, individual...more

Troutman Pepper Locke

DOL Proposed Rule: New Definition of "Investment Advice Fiduciary"

Troutman Pepper Locke on

On October 31, the Department of Labor (DOL) released a proposed rule (the Proposed Rule) aiming to redefine and expand who qualifies as an “investment advice fiduciary” under the Employee Retirement Income Security Act of...more

Morgan Lewis - ML Benefits

Update: Four More States Move Toward Anti-ESG Regulations

Anti-ESG state legislation continues to focus on public retirement plan investing and asset management. Over the last year, 18 states have proposed or adopted state legislation or regulation limiting the ability of the state...more

Morgan Lewis - ML Benefits

The State of Anti-ESG State Legislation

This post serves as an update to our prior blog post analyzing the impact of this anti-ESG state legislation on public retirement plan investing. Over the past year, 17 states have proposed or adopted state legislation...more

Faegre Drinker Biddle & Reath LLP

Best Interest Standard of Care for Advisors #91: Rollover Recommendations to Participants in Government Plans

The DOL’s expanded definition of fiduciary advice is described in the preamble to PTE 2020-02. The PTE then provides relief for conflicted non-discretionary recommendations (for example, rollover recommendations), if its...more

Faegre Drinker Biddle & Reath LLP

Best Interest Standard of Care for Advisors #90: Rollover Recommendations to Participants in Defined Benefit Plans

The DOL’s expanded definition of fiduciary advice is described in the preamble to PTE 2020-02. The PTE then provides relief for conflicted non-discretionary recommendations (for example, rollover recommendations), if its...more

Faegre Drinker Biddle & Reath LLP

The New DOL Fiduciary “Rule” For Investment Advisers and Broker-Dealers and the December 20 Deadline: The Time to Act is Now

The DOL’s new fiduciary “rule” became effective on February 16, 2021. The rule is a combination of a new and expansive definition of fiduciary advice (and status) and an exemption from the prohibitions of ERISA and the...more

Kilpatrick

PTE 2020-02 for Investment Advice Fiduciaries: Overview and Checklist

Kilpatrick on

Overview: In general, the prohibited transaction rules (in ERISA and the Tax Code) (1) prohibit fiduciaries that provide investment advice to plans subject to Title I of ERISA (including 401(k) plans, pension plans and...more

Lowenstein Sandler LLP

Fiduciary Rule Prohibited Transaction Class Exemption Released By The DOL

Lowenstein Sandler LLP on

On December 15, 2020, the U.S. Department of Labor (DOL) released a final prohibited transaction class exemption for certain fiduciary investment advice actions. Issuance of the exemption is the latest in the tug of war of...more

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