News & Analysis as of

Employee Retirement Income Security Act (ERISA) Best Practices Fiduciary Duty

Foster Swift Collins & Smith

DOL Echoes Employee Benefits and Cybersecurity Best Practices

On April 14, 2021, the U.S. Department of Labor’s (“DOL”) Employee Benefits Security Administration (“EBSA”) issued its first cybersecurity best practices guidance for retirement plans. The EBSA guidance was highly...more

Epstein Becker & Green

#WorkforceWednesday®: New DOL Guidance - ERISA Plan Cybersecurity Update - Employment Law This Week®

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This week, we’re interpreting the U.S. Department of Labor’s (DOL’s) recently updated cybersecurity guidance for all employee benefit plans covered under the Employee Retirement Income Security Act (ERISA): The DOL recently...more

Williams Mullen

[Hybrid Event] 2024 Benefits Forum: Celebrating 50 Years of ERISA - September 12th, Richmond, VA

Williams Mullen on

Join us as we commemorate ERISA’s 50th anniversary and review the past, present and future of this pivotal legislation. This hybrid event offers two options for attendance: in-person or webinar. Both options will have an...more

Holland & Knight LLP

Plaintiffs Request Court Approval of $8.7M Settlement in ERISA Class Action Cyberattack Lawsuit

Holland & Knight LLP on

Multi-employer plan participants involved in an Employee Retirement Income Security Act of 1974 (ERISA) class action lawsuit against Horizon Actuarial Services LLC (Horizon), a national retirement services firm, have entered...more

Bricker Graydon LLP

Forfeitures Account - The Next New Topic of ERISA Litigation Trends & Should You Be Concerned?

Bricker Graydon LLP on

A handful of new ERISA litigation cases (including McManus v. Clorox Co., N.D Cal. No. 4:23-cv-05325) are taking aim at forfeiture accounts and trying to pull them into the never-ending list of ways in which retirement plan...more

Bricker Graydon LLP

Investment Committee Best Practices - If a Prudent Decision Was Made and No One Documented it, Did it Happen?

Bricker Graydon LLP on

If you are serving as a fiduciary for your employer’s retirement plan, you have a duty under the Employee Retirement Income Security Act (ERISA) to act prudently. Engaging in prudent behavior is only the first step a plan...more

Troutman Pepper

DOL Guidance on Cybersecurity: A Cautionary Note for Plan Sponsors

Troutman Pepper on

Have you asked yourself recently: “Are my ERISA plan’s assets and participant data protected from cyberattacks?” If not, you should. The Department of Labor’s (DOL) release of cybersecurity best practices for plans covered by...more

Jenner & Block

The “Defensive” 401(k) Plan

Jenner & Block on

No good deed goes unpunished. Those of us working with 401(k) plans are familiar with this sentiment. An employee benefit plan, as the name implies, is supposed to benefit employees. Yet benefit plans – particularly 401(k)...more

Groom Law Group, Chartered

Cybersecurity Requests Appear in DOL Audits

Plan sponsors, fiduciaries, and service providers are being asked by DOL investigators how their ERISA governed plans address cybersecurity concerns with increasing frequency. These requests may take the form of production...more

ArentFox Schiff

Don’t Be Insecure: DOL Guidance Addresses Cybersecurity for ERISA Plans

ArentFox Schiff on

The Department of Labor (DOL) recently issued new guidance on best practices for maintaining cybersecurity in connection with ERISA plans (the Guidance). The Guidance, which is intended for sponsors, fiduciaries, record...more

Bond Schoeneck & King PLLC

DOL Issues New Cybersecurity Guidance for Plan Sponsors, Plan Fiduciaries, Record-Keepers and Plan Participants

On April 14. 2021, the U.S. Department of Labor (DOL) issued much needed guidance concerning best practices for plan sponsors, fiduciaries, record-keepers, participants and beneficiaries pertaining to cybersecurity for...more

Kilpatrick

DOL Releases Cybersecurity Guidance

Kilpatrick on

On April 14, 2021, the Department of Labor (“DOL”) issued several pieces of guidance on cyber security best practices, including: (1) a press release, (2) Online Security Tips for retirement plan participants, (3) a Tips for...more

Groom Law Group, Chartered

DOL Issues Cybersecurity Guidance for Plan Sponsors, Plan Fiduciaries, Recordkeepers, and Plan Participants

On April 14, 2021, the U.S. Department of Labor (“DOL”) issued a cybersecurity guidance package directed to plan sponsors; fiduciaries regulated under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”);...more

American Conference Institute (ACI)

[Virtual Event] 18th NATIONAL FORUM ON ERISA Litigation - November 18th - 19th, 10:45 am - 1:30 pm EST

Join us virtually to ensure that you are equipped with the latest updates and strategies to prevent, manage and defend against rising, costly ERISA disputes. There has never been a more critical time to “compare notes”...more

Proskauer - Employee Benefits & Executive...

Best Practices in Administering Benefit Claims #5 – Establishing (and Following) a Good Claims Process

This week we discuss the importance of establishing good claims procedures and the benefits of following those procedures. A plan’s claims procedures should be spelled out clearly in both the plan document and the summary...more

Faegre Drinker Biddle & Reath LLP

Best Practices for Plan Sponsors #12

Lessons Learned from Litigation (#4)—The Johns Hopkins Case - This is the twelfth in a series of articles about Best Practices for Plan Sponsors. To be clear, “best practices” are not the same as legal requirements....more

American Conference Institute (ACI)

[Event] ERISA Litigation – Valuable insights on how to prevent, manage and defend against rising, costly ERISA disputes - November...

Ensure that You are Equipped with the Latest Updates and Strategies to Prevent, Manage and Defend Against Rising, Costly ERISA Disputes - This annual event is your best opportunity to gain best practices for your everyday...more

Faegre Drinker Biddle & Reath LLP

Best Practices for Plan Sponsors #11

This is the eleventh in a series of articles about Best Practices for Plan Sponsors. To be clear, “best practices” are not the same as legal requirements. Instead, they are about better ways to manage retirement plans. In...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Retirement Plan Advisors Advantage - March 2019

A Plan Provider's Guide On How Not To Die (Sorry Lois). Get busy living or get busy dying. I started my own practice about 9 years ago because I was involuntarily liberated from my position as an associate at a...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - January 2019

401(k) Options That Must Be Obligatory For Plan Sponsors. They need to be obligatory. Buying a car isn't easy because it's confusing with the different option packages and trims. Sometimes I jokingly ask whether a...more

Holland & Knight LLP

DOL Enters into 5th Settlement Agreement with an ESOP Trustee – and It Looks Familiar

Holland & Knight LLP on

• The U.S. Department of Labor has entered into a fifth settlement agreement with the trustee of an employee stock ownership plan (ESOP). The agreement was entered into in connection with a recently settled case relating to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Need To Offer Education

Advisors ask me all the time of the role of education in participant directed 401(k) plans and it’s an important question. Participant directed 401(k) plans that are governed under ERISA §404(c) offer the plan sponsors...more

Proskauer - Not for Profit/Exempt...

Recaps from Proskauer’s 21st Annual Trick of Treat Tax Exempt Seminar

Proskauer’s 21st Annual Trick or Treat Seminar was held on Thursday, October 27. The Seminar discussed: Best Practices for Document Retention: One Size Does Not Fit All...more

Mintz - Employment, Labor & Benefits...

U.S. Department of Labor Re-Proposes Rules Governing the Definition of “Fiduciary”—Part 3: The Impact on Large Retirement Plans

In Part 1 of this series, we reported on recently proposed regulations issued by the U.S. Department of Labor amending the definition of the term “fiduciary” under the Employee Retirement Income Security Act (ERISA) and the...more

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