Tag: Department of Labor

DOL Secretary Announces Resignation

The editor-in-chief of the Washington Free Beacon says Democrats may end up regretting their calls for Acosta's resignation since his replacement could be more proactive in pushing the Trump labor agenda.

DOL Issues FAQs About Association Health Plans

The FAQs explain the Department of Labor’s (DOL)’s enforcement policy and ongoing administration of association health plans (AHPs) following a federal court ruling striking down the DOL’s most recent AHP guidance.

DOL Says Members of AHPs Can Keep Coverage for Now

After a federal district court overturned final regulations on association health plans (AHPs) from the Department of Labor (DOL), the agency says “employers participating in insured AHPs can generally maintain that coverage through the end of the plan year or, if later, the contract term.”

Barry’s Pickings: DOL’s Fiduciary Theory: Fundamentally Incoherent

Michael Barry, president of O3 Plan Advisory Services LLC, discusses the inconsistencies in the Department of Labor’s (DOL)’s theory of retirement plan sponsor fiduciary responsibility, especially with respect to participant choice, and the consequences of its failure to provide clear guidance.

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 participants not entitled to plan benefits, in total transferring $2 million from the pension plan to his own accounts.

Barry’s Pickings Online: Trump DOL Mid-Term Report Card

Michael Barry, president of October Three (O3) Plan Advisory Services LLC, offers his opinions about retirement plan issues addressed—and not addressed—by the Department of Labor under President Donald Trump.

DOL Urged to Expand Association Retirement Plan Proposal

Many industry groups that submitted comments to the DOL argued that the plain language of Section 3(5) of the Employee Retirement Income Security Act (ERISA) indicates non-related employers could participate in multiple employer plans (MEPs).

DOL Asked for Guidance on Retirement Plan Cybersecurity

The ERISA Advisory Council is asking the DOL to provide guidance on how plan sponsors should evaluate the cybersecurity risks they face and to require them to be familiar with the various security frameworks used to protect data as well as to build a cybersecurity process.