President Biden signed the Consolidated Appropriations Act, 2023, on December 29, 2022, which includes the package of retirement plan legislation known as “SECURE 2.0.” SECURE 2.0 contains numerous significant changes for...more
The IRS issued Notice 2022-53 on October 7, providing relief under the required minimum distribution (RMD) rules of Section 401(a)(9) of the Internal Revenue Code (Code). The Notice provides that excise taxes and tax...more
The U.S. Department of Labor (DOL) issued Compliance Assistance Release No. 2022-01 on March 10, 2022, cautioning 401(k) plan fiduciaries to “exercise extreme care” before they allow participant investments in cryptocurrency...more
Just in time for the Olympics, the Internal Revenue Service (IRS) is attempting to take a medal in the category of “long-form voluntary compliance programs”. The IRS issued Revenue Procedure 2021-30 (Rev. Proc. 2021-30),...more
In 2020, the Department of Labor (DOL), in its guidance issued under the Employee Retirement Income Security Act of 1974, as amended (ERISA), remained principally focused on the development of its Fiduciary Rule 3.0 and...more
2/25/2021
/ Administrative Exemption ,
Advisory Opinions ,
Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Fiduciary Rule ,
Prohibited Transactions ,
Proxy Voting ,
Retirement Plan
On January 12, 2021, the Department of Labor (DOL) released a triple shot of guidance related to helping retirement plan fiduciaries meet their obligations under the Employee Retirement Income Security Act (ERISA) to...more
1/18/2021
/ Department of Labor (DOL) ,
EBSA ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Field Assistance Bulletins ,
Missing Plan Participants ,
New Guidance ,
PBGC ,
Pensions ,
Retirement Plan ,
Safe Harbors
On June 30, 2020, the US Department of Labor (DOL) published in the Federal Register a proposed rule that would regulate ERISA plan fiduciary conduct when considering investments under an environmental, social and governance...more
On June 3, 2020, the US Department of Labor (DOL) issued an Information Letter reassuring plan fiduciaries that in appropriate circumstances, a professionally managed fund that contains a private equity component may be...more
On June 1, 2020, the Supreme Court handed down a 5-4 decision holding that participants in a defined benefit pension plan who have been paid all of the monthly pension benefits to which they are entitled lack standing under...more
6/5/2020
/ Article III ,
Breach of Duty ,
Defined Benefit Plans ,
Duty of Loyalty ,
Duty of Prudence ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Injury-in-Fact ,
Investment Adviser ,
Mismanagement ,
Pensions ,
Plan Participants ,
Retirement Plan ,
SCOTUS ,
Standing ,
Thole v U.S. Bank