Tag: Department of Labor

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.

DOL Clarifies Fiduciary Roles in Auto-Portability Solution

The agency says plan sponsors have fiduciary responsibility for selecting and monitoring Retirement Clearinghouse’s Auto-Portability Solution, but once assets have been transferred from a plan sponsor’s retirement plan, it is no longer a fiduciary with respect to those assets.