In September 2024, the U.S. Department of Labor (the “DOL”) released Compliance Assistance Release No. 2024-01 and its updated cybersecurity guidance for employers that sponsor employee benefit plans governed by the Employee...more
Pension-Linked Emergency Savings Accounts (“PLESAs”) are a special retirement plan feature created under SECURE ACT 2.0. PLESAs were first permitted to be made available to participants as of January 1, 2024. PLESAs, which...more
4/8/2024
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SECURE Act
On November 22, 2022, the U.S. Department of Labor (the “DOL”) released new regulations (the “New Regulations”) further clarifying the rules governing how retirement plan fiduciaries should approach plan investments under the...more
The Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”) made sweeping changes to retirement plan rules. Section 203 of the SECURE Act requires that plan administrators provide participants in...more
On February 26, 2021, the DOL issued guidance regarding the impact of that statutory limitation on the previously announced deadline extensions, in EBSA Disaster Relief Notice 2021-01.
Disaster Relief Notice 2021-01, in...more
The Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”), made sweeping changes to retirement plan rules. As described in our prior alert, certain provisions took effect immediately and were...more
On April 29, 2020, the Employee Benefit Security Administration (“EBSA”) of the Department of Labor (“DOL”) issued Disaster Relief Notice 2020-01 (“Notice 2020-01”), in response to the COVID-19 outbreak which was declared a...more
On April 28, 2020, the Employee Benefits Security Administration, the Department of Labor, the Internal Revenue Service, and the Department of the Treasury (the “Agencies”) signed a joint notification of relief, which was...more
The COVID-19 pandemic has raised new and important questions for employers, including those about balancing employee privacy with the need to warn employees about possible exposure to the novel coronavirus. Here are some...more
In late April, the Department of Labor (“DOL”) released FAB 2018-01 addressing and clarifying previous guidance concerning economically targeted investments (“ETIs”), shareholder engagement and proxy voting.
The general...more
After several rounds of additional review and a three-month delay in the effective date, the final regulations originally issued by the U.S. Department of Labor (the “DOL”) in December 2016, which established new requirements...more
As the federal government agencies continue to push forward with implementation and administration of health care reform (i.e., the Patient Protection and Affordable Care Act), there are two recent developments that we want...more
Earlier this month we reminded you that plan administrators of participant-directed ERISA defined contribution retirement plans (e.g., 401(k) plans, 403(b) plans, profit sharing plans and money purchase plans) had to...more
As we have alerted you in the past, health care reform enacted in 2010 under the Patient Protection and Affordable Care Act (referred to herein as “PPACA”) has imposed new obligations on employers and group health plans. One...more