EBSA Disaster Relief Notice Highlights Pandemic’s Lasting Impact
This latest regulatory development is just another piece of evidence underscoring how extraordinary the last 12 months have been.
Tag: EBSA
Labor Secretary Nominee Walsh Shines in Confirmation Hearing
During the confirmation hearing, Boston Mayor Marty Walsh was complimented as being fully qualified for the role of labor secretary...
DOL Offers Guidance for Locating Missing Participants
Guidance in three parts offers suggested processes for DC plans and DB plans and reveals errors DOL staff should look...
Marty Walsh Will Be Nominated as Secretary of Labor
Apart from potentially reversing course on fiduciary rule-related regulations, there are many other areas where sources suggest the next DOL...
DOL ERISA Enforcement Results Increase From Previous Year
The agency’s enforcement report describes some ways enforcement actions are initiated.
Some View EBSA Income Projections as Too ‘Prescriptive’
Recordkeepers and asset managers want more flexibility in terms of how their clients generate newly mandated lifetime income projections on...
PSNC 2020: Preston Rutledge’s Inside View of the DOL
As the nation’s top retirement and health plan regulator, Preston Rutledge oversaw an agency of more than 800 employee benefits...
DOL’s Proposed ESG Restrictions Panned in Public Comments
The clear trend among investment managers, retirement industry professionals and members of the public is skepticism about the need for...
DOL Seeks Stricter Limits on ESG Investing Under ERISA
The proposed regulation would “confirm that ERISA requires plan fiduciaries to select investments and investment courses of action based solely...
Final Electronic Disclosure Rule Published by DOL
The leadership at the regulator says this measure will reduce printing, mailing and related plan costs by an estimated $3.2...
DOL Provides Relief for Certain Retirement Plan Requirements
Relief is provided for verification requirements for loans and distributions and timing for forwarding contributions and loan repayments, among other...
EBSA Head Rutledge to Depart Role in Late May
Perhaps his most significant contribution was the role Preston Rutledge played in undoing the Obama-era DOL fiduciary rule expansion.
Administrator of Self-Funded Health Plans Ordered to Restore Funds
The Department of Labor found WH Administrators failed to provide proper plan funding and pay medical claims, as well as...
Former Pension Fund Trustee to Pay $462K for Embezzlement
The trustee embezzled approximately $186,123.93 from the plan, as well as knowingly and willingly failed to file a required annual...
DOL Enforcement Efforts Are Wide-Ranging
While the DOL’s Employee Benefit Security Administration is diligent in protecting employees’ benefits, plan sponsors can also turn to it...
E-Delivery Proposal Could be Improved, Stakeholders Say
While the retirement plan industry has reacted positively to a DOL proposal to make default e-delivery of plan documents the...
Criticism of DOL E-Delivery Proposal Misses the Mark, Experts Say
“We think there will be cost savings from e-delivery and that these cost savings will be passed on to individual...
Investment Adviser Sentenced for Defrauding Pension Plan
The Department of Labor found the investment adviser made 63 fraudulent requests to Transamerica for lump sum benefit checks for...
DOL Invites Correction for Failure to Timely Remit Contributions
An update from law firm Masuda, Funai, Eifert & Mitchell, Ltd. says that based on reviews of Form 5500s, the...
Failure to Remit Contributions Cost Retirement Plan Fiduciaries Over $500,000
In addition, a federal district court has ordered the trustee of the plans not to serve in a fiduciary capacity...