On June 8, 2022, the Congressional Research Service published “Private-Sector Defined Contribution Pension Plans: An Introduction.” We reviewed the report and wanted to highlight a few key data points. Defined contribution...more
The CARES Act includes a provision that can help participants who are affected by the coronavirus (qualified individuals*) by permitting them to take a special coronavirus-related distribution (CRD) this year. As a financial...more
Hardship Distributions During the COVID-19 Outbreak
As the COVID-19 outbreak continues, retirement plan sponsors will likely receive questions from employees about ways in which they can access funds in their retirement...more
IRS Guidance Related to Coronavirus Testing/Treatment for HDHPs/HSAs -
Last week, the IRS issued guidance confirming that high-deductible health plans with health savings accounts can provide coronavirus testing and...more
The next wave of Employee Retirement Income Security Act (ERISA) litigation could be upon us, depending on the outcome of four new lawsuits bringing untested legal arguments about the reasonableness of actuarial assumptions....more
The Treasury Department has issued proposed hardship distribution regulations that incorporate changes made in the Bipartisan Budget Act, the Pension Protection Act of 2006, and the Tax Cuts and Jobs Act. The Treasury...more
A ubiquitous presence in the federal courts, the Employee Retirement Income Security Act of 1974 (ERISA) regulates the administration of employee pension and welfare plans — otherwise defined as plans that provide employees...more
The Department of Labor (DOL) has announced a final regulation to delay implementation of the Fiduciary Rule from April 10, 2017, until June 9, 2017. In addition to the 60-day delay, the final regulation eases certain...more
The Department of Labor (DOL) has issued a proposed rule that could delay the applicability date of the Fiduciary Rule from April 10, 2017, until June 9, 2017. It is too early to know whether the proposed rule will become...more
By now, you may have heard that the Department of Labor (DOL) has expanded fiduciary status for certain investment advisers to retirement plans or IRAs. Some of your providers are already fiduciaries, but some will now be...more
After years of debate and speculation, the U.S. Department of Labor (DOL) issued its final package of rules to regulate individuals and entities that provide investment advice to retirement plans and IRA investors. The DOL’s...more
The U.S. Department of Labor (DOL) has proposed a new “Best Interest Contract” prohibited transaction exemption, which is a standards-based exemption that applies to the receipt of compensation by advisers and their financial...more