The former president of Encore Fiduciary will head the Employee Benefits Security Administration, having pledged to streamline retirement plan oversight and end the ‘war on ESOPs.’
Plan sponsors, payroll providers and plan administrators should already be ensuring they have processes in place to comply with the requirements, according to legal experts.
The ERISA Industry Committee praised the state legislature’s efforts to amend a proposal to prevent state oversight from clashing with ERISA uniformity.
A paper from the National Institute on Retirement Security debunked the myth that younger generations’ job-hopping means they are uninterested in defined benefit plans.