News & Analysis as of

Recordkeeping Requirements Department of Labor (DOL) Benefit Plan Sponsors

Holland & Hart - The Benefits Dial

Just Because I’m Missing, Doesn’t Mean I’m Lost: Should Plan Sponsors Provide Data for the DOL’s Missing Participant Database?

“Missing participants” have long been a thorn in the side of plan sponsors and administrators, as they are owed a retirement benefit, but are unable to be found or unresponsive to plan communications. As a partial solution,...more

Alston & Bird

Major Changes Coming to the Qualified Professional Asset Manager Exemption

Alston & Bird on

Our Employee Benefits & Executive Compensation and Investment Funds Teams break down the increased compliance requirements – and compliance costs – qualified professional asset managers (QPAMs) face under the Department of...more

Proskauer - Employee Benefits & Executive...

DOL Unveils Final Amendment to QPAM Exemption

On April 3, 2024, the U.S. Department of Labor (the “DOL”) published in the federal register a final amendment to Prohibited Transaction Class Exemption 84-14 (the “QPAM Exemption”) that makes considerable changes to the...more

Foley & Lardner LLP

401(k) Compliance Check #5: Keeping 401(k) Participants Out of the Lost and Found Box

Foley & Lardner LLP on

In last month’s 401(k) Compliance Check, we discussed the variety of typical notices that a 401(k) plan must send to plan participants. In this month’s Compliance Check, we focus on the issue of how to handle a situation...more

Verrill

DOL Cybersecurity Guidance

Verrill on

This post provides a high-level summary of the Department of Labor’s cybersecurity guidance issued in April and identifies actions retirement plan sponsors and other plan fiduciaries should consider taking now in light of the...more

Fisher Phillips

June 2017: The Top 15 Labor And Employment Law Stories

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It’s hard to keep up with all the recent changes to labor and employment law. While it always seems to evolve at a rapid pace, the last few months have seen an unprecedented number of changes. June 2017 was no different, with...more

Winstead PC

New PTEs Impact Broker’s and Advisor’s Relationship with Retirement Plans and IRAs and Also Impact Plan Sponsors and Fiduciaries

Winstead PC on

While only the plan service providers, like brokers, are required to comply with the requirements of the revised and new prohibited transaction class exemptions contained in the package with the definition of...more

McCarter & English, LLP

Pension Plan Sponsors Beware: The Department of Labor Is Investigating Plans That Fail to Locate and Pay Benefits to Terminated...

A Department of Labor (“DOL”) official recently disclosed a new DOL investigation initiative focusing on the adequacy of defined benefit plan procedures to locate and pay out benefits to terminated vested participants. The...more

Epstein Becker & Green

U.S. Department of Labor Provides a Reminder to Plan Sponsors and Committees of Certain Fiduciary Responsibilities

Some mutual funds (and possibly other funds) that are made available by a 401k plan for investment by its participants may make payments to the plan's record-keeper (and perhaps other service providers) for certain services...more

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