News & Analysis as of

Employee Retirement Income Security Act (ERISA) Biden Administration

Nossaman LLP

Relying on Loper, Fifth Circuit Sends Chevron-based decision Back to District Court, calling ESG Rule into Question

Nossaman LLP on

On July 18, the U.S. Court of Appeals for the Fifth Circuit (“Fifth Circuit”) vacated a decision by the U.S. District Court for the Northern District of Texas (“District Court”) that upheld the U.S. Department of Labor’s...more

ArentFox Schiff

Biden Administration Issues Final Rule Expanding ERISA Fiduciary Definition, Enhancing Protections for Pension Plan Participants

ArentFox Schiff on

On April 23, the US Department of Labor (DOL) released a final rule significantly expanding the definition of who qualifies as a fiduciary under the Employee Retirement Income Security Act (ERISA) (the Retirement Security...more

Ballard Spahr LLP

Final Rules Overturn Trump Era Health Benefit Rules

Ballard Spahr LLP on

The Biden administration has issued two sets of final regulations that overturn rules adopted during the Trump administration pertaining to association health plans and short-term, limited-duration insurance (STLDI). The...more

Eversheds Sutherland (US) LLP

Department of Labor’s Fiduciary Rule 4.0 proposal

On October 31, 2023, following its announcement by President Biden, the US Department of Labor (DOL or Department) released its Proposal 4.0 regarding ERISA fiduciary investment advice, including amended exemptions for...more

Brownstein Hyatt Farber Schreck

Updated Retirement Fiduciary Guidance Issued by Biden Administration

On Oct. 31, 2023, the Biden administration released its long-awaited revision to the Employee Retirement Income Security Act (ERISA) fiduciary rule. These regulations define fiduciaries and outline what transactions are...more

Mintz

Biden Administration's DOL Rule Enabling Investment Advisors to Consider ESG Factors Survives Judicial Challenge

Mintz on

On September 21, 2023, Judge Kacsmaryk (N.D. Texas), a famously conservative Trump-appointed jurist, upheld a Department of Labor rule promulgated by the Biden Administration that enables employee retirement plans to consider...more

Verrill

Update on the Debate over Environmental, Social, and Corporate Governance Investing

Verrill on

The debate over investment of retirement plan funds based on environmental, social, and corporate governance (“ESG”) factors continues to make waves. This post provides a high-level overview of the current state of play for...more

Jones Day

Congressional Republicans and State Attorneys General Challenge Biden Administration's ESG 401(k) Rule

Jones Day on

Republicans at the state and federal levels are challenging a Biden administration rule (the "Rule") intended to walk back Trump-era regulations restricting the ability of retirement fund managers to consider climate change...more

Katten Muchin Rosenman LLP

President Biden’s First Veto Frustrates Anti-ESG Coalition

On March 20, President Joe Biden used his first presidential veto to block a GOP-sponsored anti-ESG bill from taking effect. The bill would have eliminated a Department of Labor rule that allows ERISA retirement fund managers...more

Bass, Berry & Sims PLC

Tolling No More: Preparing for the End of COVID-19 Emergency Declarations

On January 30, President Biden announced his intention to end the COVID-19 National Emergency (NE) and Public Health Emergency (PHE) effective May 11, 2023. Both emergency declarations resulted in various forms of relief for...more

Seyfarth Shaw LLP

Policy Matters Newsletter - March 2023

Seyfarth Shaw LLP on

Biden Officially Nominates Su To Replace Marty Walsh. This week, President Biden officially announced the nomination of Julie Su to replace Marty Walsh atop the Department of Labor. We have had numerous occasions to discuss...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Beltway Buzz - March 2023

POTUS Nominates Su to Lead DOL. This week, President Biden nominated Julie Su to serve as secretary of the U.S. Department of Labor (DOL) (the current secretary, Marty Walsh, is scheduled to leave his position later this...more

Ballard Spahr LLP

Spring Cleaning: Preparing for the COVID Emergency’s End

Ballard Spahr LLP on

Summary - The almost three-year-old COVID-19 national emergency and public health emergency declarations (Declarations) are slated to expire May 11, 2023....more

Jenner & Block

Client Alert: The End of the COVID-19 Emergencies: Considerations for Health and Welfare Plan Administrators

Jenner & Block on

On January 30, 2023, the Biden administration[1] announced that on May 11, 2023 it plans to end the COVID-19 national emergency (Outbreak Period) and public health emergency (Public Health Emergency), which were declared by...more

Sherman & Howard L.L.C.

The End of the Line Draws Near for COVID-19 Plan Deadline Extensions

On January 30, 2023, the Biden Administration released a Statement of Administration Policy providing that the Administration intends to end the COVID-19 National Emergency declared in 2020 (the “National Emergency”) on May...more

Smith Gambrell Russell

COVID-19 Deadline Extensions and Coverage Mandates for Benefit Plans Scheduled to End

On January 30, 2023, the Biden Administration announced its plan to end the COVID-19 public health and national emergency declarations on May 11, 2023, more than three years after the declarations initially took effect. ...more

Faegre Drinker Biddle & Reath LLP

COVID-19 National Emergency Plan Deadline Extensions Set to End This Summer

On January 30, 2023, President Biden announced the Administration’s plan to extend the current declarations of the COVID-19 national emergency and public health emergency (PHE) through May 11, 2023, and end both emergencies...more

Holland & Hart - The Benefits Dial

Closing Time…for the COVID-19 National Emergency and Public Health Emergency

The Biden administration announced on January 30 that the COVID-19 national emergency and the public health emergency will be coming to an end after May 11, 2023. The national emergency is currently set to expire on March 1,...more

Brooks Pierce

SECURE 2.0: Recent Changes to Retirement Plan Laws

Brooks Pierce on

While most of us were busy preparing for the holidays and making New Year’s resolutions, Congress and President Biden were busy rolling out new retirement plan legislation. On Dec. 22 and Dec. 23, respectively, the Senate and...more

Holland & Knight LLP

DOL Issues Final Rule on Climate Change, ESG Factors for Retirement Plan Investments

Holland & Knight LLP on

The U.S. Department of Labor (DOL) on Nov. 22, 2022, announced its adoption of amendments to the regulation setting out retirement plan fiduciary duties of prudence and loyalty under the Employee Retirement Income Security...more

Fenwick & West LLP

Considerations for Employers Reimbursing Out-Of-State Travel for Abortion Procedures

Fenwick & West LLP on

In the wake of the Supreme Court’s Dobbs v. Jackson Women’s Health Organization decision (Dobbs), several states have already begun outlawing abortions and more states are expected to do so. Some states are also considering...more

Holland & Knight LLP

Employment Implications Arising from Dobbs v. Jackson Women's Health Organization

Holland & Knight LLP on

The U.S. Supreme Court issued its decision in Dobbs v. Jackson Women's Health Organization on June 24, 2022, overturning Roe v. Wade and Planned Parenthood v. Casey and holding that there is no right to abortion in the U.S....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

I don’t get the push for ESG

While the Biden-led Department of Labor (DOL) has given the green light for environmental, social, and governance (ESG) funds within 401(k) plans, I don’t get the push....more

Akerman LLP - Health Law Rx

Biden Administration Signals MHPAEA Enforcement a Priority with Fiscal 2023 Budget

The Biden Administration’s proposed budget for fiscal year 2023 serves as a warning to all plan issuers and administrators that enforcement of the Mental Health Parity and Addiction Equity Act (MHPAEA) is a top priority for...more

K&L Gates LLP

DOL Release Warns About Cryptocurrency in 401(k) Plans

K&L Gates LLP on

The Department of Labor (DOL) recently issued a Release that warns about cryptocurrency use in 401(k) plans. The Release raises a number of concerns, including troubling implications for fiduciary duties with respect to...more

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