Department of Labor notices in 2020 and 2021 lumped “climate change” with other environmental, social, and corporate governance concerns that the DOL initially said should generally not be considered when selecting retirement...more
Almost one year from the date it updated its investment duties regulation (29 C.F.R. § 2550.404a-1), triggering our previous article “DOL to Plan Sponsors: ‘It’s All About the Benjamins!,’” the Department of Labor (DOL)...more
If you thought the “Matrix” and “Spider-Man” sequels were impressive, you will be delighted to know that in a matter of weeks after revisiting its guidance on ESG retirement plan investments, the Department of Labor also...more
Carlton Fields tax attorney Lowell Walters discusses a new group health plan documentation requirement for mental health parity compliance.
The video transcript can be found on The Tax of Life Blog, a blog focused on recent...more
Dear Department of Labor: The fiduciary role of selecting 401(k) and 403(b) plan investment options based on diversification and projected risk and return is too easy. Can we sacrifice some returns in order to promote social...more
Participants do not always prefer the investment choices retirement plans offer. Whether participants want additional ways to diversify their portfolios or have other reasons, participants are asking retirement plan sponsors...more
Carlton Fields tax attorney Lowell Walters discusses three timely employee benefits issues: using employee benefits to reduce expenses; helping retirement plan participants in an inconsistent investment market; and, the...more
9/17/2020
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Bonuses ,
COBRA ,
Compensation & Benefits ,
Department of Labor (DOL) ,
Eligibility ,
Employee Benefits ,
Employer Contributions ,
Employer Group Health Plans ,
Employment Tax ,
Furloughs ,
Hiring & Firing ,
Investment Adviser ,
Investment Management ,
Layoffs ,
Payroll Expenses ,
Reduction in Hours ,
Retirement Plan ,
Wage and Hour
On June 3, 2020, the Department of Labor provided valuable insights via an information letter addressing private equity investment (PEI) within defined contribution retirement plans (such as 401(k) plans). ...more
A recently released case highlights the protection afforded by a retirement plan committee that takes its role seriously. In Scalia v. WPN Corp., No. 2:14-cv-01494, 2019 WL 4748052 (W.D. Pa. Sept. 30, 2019)), a Pennsylvania...more
11/15/2019
/ Breach of Duty ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Enforcement Actions ,
Failure to Monitor ,
Fiduciary Duty ,
Investment Management ,
Investment Opportunities ,
Regulatory Oversight ,
Retirement Plan
On January 5, the Department of Labor (DOL) announced that regulations it previously proposed will apply to certain retirement and medical disability claims filed after April 1. This article focuses on a few practical...more
This updates our August 15 blog entry, which targeted employers who sponsor retirement or welfare plans and are concerned about their fiduciary liabilities for properly selecting service providers....more
12/6/2017
/ Benefit Plan Sponsors ,
Best Interest Contract Exemptions ,
Conflicts of Interest ,
Consumer Financial Products ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Financial Services Industry ,
Investment Adviser ,
Investment Management ,
Regulatory Oversight ,
Retirement Plan
On October 12, President Trump signed Executive Order 13813, asking the Department of Labor (DOL) to consider allowing small employers to join together to self-insure or purchase insurance as a large group (creating...more
10/25/2017
/ Affordable Care Act ,
Association Health Plans ,
Cost-Sharing ,
Department of Labor (DOL) ,
Employer Mandates ,
Executive Orders ,
Health Insurance ,
Healthcare Reform ,
Individual Mandate ,
IRS ,
Qualified Small Employer Health Reimbursement Plan (QSEHRAs) ,
Trump Administration