In the wake of several recent high-profile security breaches, employers are increasingly viewing identity theft protection as an essential employee benefit for employees. According to Willis Towers Watson’s 2016 voluntary...more
On May 22, 2017, Department of Labor (DOL) Secretary Alexander Acosta announced in an op-ed in the Wall Street Journal that the DOL will not issue another delay of the “fiduciary rule,” set to become generally effective on...more
Now more than ever, workplace wellness programs are becoming increasingly popular among employers. A common concern many employers have is how to design a meaningful workplace program intended to improve the health of...more
As ordered by President Trump in a presidential memorandum on February 3, 2017, (Memorandum), the U.S. Department of Labor (DOL) proposed a 60-day delay to its conflict of interest rule (commonly referred to as the “fiduciary...more
4/11/2017
/ Best Interest Contract Exemptions ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Investment Adviser ,
Retirement ,
Retirement Plan ,
Trump Administration
On February 3, 2017, President Trump signed a presidential memorandum (Memorandum) ordering the U.S. Department of Labor (DOL) to review its conflict of interest rule defining the term “fiduciary” for retirement investment...more
2/7/2017
/ Best Interest Standard ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Financial Adviser ,
Investment Adviser ,
Regulatory Oversight ,
Retirement ,
Retirement Plan ,
Trump Administration
The Internal Revenue Service (IRS) recently issued its annual update regarding dollar limitations on contributions and benefits applicable to tax-qualified retirement and welfare plans for 2017.
...more
11/4/2016
/ 401k ,
Benefit Plan Sponsors ,
Defined Benefit Plans ,
Defined Contribution Plans ,
Employee Benefits ,
Health and Welfare Plans ,
Internal Revenue Code (IRC) ,
IRS ,
Qualified Benefit Plans ,
Qualified Retirement Plans ,
Retirement ,
Retirement Plan
The Internal Revenue Service (IRS) recently issued General Counsel Memorandum 201634021 (Memorandum), clarifying benefit coverage requirements for employees of a disregarded LLC wholly owned by a single member tax-exempt...more
Most employers are generally aware of their fiduciary status as a “plan sponsor” of an ERISA-governed retirement plan (e.g., 401(k) and 403(b) plans). In fact, the employer’s hiring of a service provider is in and of itself a...more
10/4/2016
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Cybersecurity ,
Data Protection ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Popular ,
Retirement ,
Retirement Plan ,
Third-Party
Pursuant to recently amended federal legislation, the Department of Labor (DOL), among several other federal agencies, is increasing its civil monetary penalties to adjust for inflation. Among the penalties to be increased...more
On April 6, 2016, the U.S. Department of Labor (DOL) issued its long-awaited final conflict of interest rule defining the term “fiduciary” for retirement investment advice purposes. The final regulations and accompanying...more
Recently, the U.S. Supreme Court, in Gobeille v. Liberty Mutual Insurance Co., 2016 U.S. LEXIS 1612, underscored the broad extent to which the preemption language of the Employee Retirement Income Security Act of 1974...more
On January 29, 2016, the Internal Revenue Service (IRS) released Notice 2016 - 16 , which provides, effective immediately, significant relief with respect to the ability of a plan sponsor to make midyear changes to a safe...more