Compliance | April 17th, 2024 DOL Asks for Budget Increase to Implement SECURE 2.0 The anticipated final retirement security proposal did not feature anywhere in the budget proposal.
Compliance | April 2nd, 2024 DOL Finalizes QPAM Rule Qualified professional asset managers can now be disqualified for foreign convictions and domestic non-prosecution agreements.
Compliance | March 25th, 2024 DOL Answers Appeal in ESG Rule Litigation The ESG rule was upheld in a Texas district court, but was appealed to the 5th Circuit in October 2023.
Compliance | March 19th, 2024 Advocates for DOL Fiduciary Proposal Say Existing Insurance Regulations Fall Short The proposal would add a private right of action and tighter conflict of interest rules.
Compliance | March 15th, 2024 DOL Says Central States Must Repay $127M SFA Overpayment Central States was granted $127 million that it was not entitled to because the PBGC counted over 3,000 deceased participants...
Compliance | March 11th, 2024 DOL Sends Final Fiduciary Rule to OIRA For Review The final draft has been written and now will undergo a review expected to take about 60 days.
Compliance | February 27th, 2024 Senate to Hold Julie Su Re-Nomination Hearing Wednesday The same Senate committee will also host a panel to discuss methods of expanding access to defined benefit plans.
Compliance | February 13th, 2024 DOL’s EBSA Recovered $1.4B for Retirement, Health Plans in 2023 Regulator cites growth of outreach and education programs along with monetary recoveries among last year's accomplishments.
Compliance | January 23rd, 2024 DOL Modifies PTE Application Process The changes include more explicit criteria and modified definitions of what it means to be an independent fiduciary and appraiser.
Compliance | January 22nd, 2024 How the DOL’s Auto-Portability Proposal Works Service providers could charge a fee directly to an IRA owner for executing a transfer to their new qualified plan.
Benefits | January 22nd, 2024 Will Plan Sponsors Adopt PLESAs in 2024? With new guidance from the DOL and IRS, employers have an opportunity to hit the ground running and adopt pension-linked...
Compliance | January 19th, 2024 Fiduciary Proposal May Be Extremely Expensive to Implement, Oxford Survey Finds The biggest costs would come from disclosure requirements related to rollover decisions, according to a survey commissioned by a financial...
Compliance | January 12th, 2024 American Securities Association Wants DOL Employees Recused From Work on Fiduciary Proposal The ASA requested that Congress identify and consider removing from the project certain DOL staff involved with the proposal.
Compliance | January 10th, 2024 House Committee Hears Expert Testimony on Fiduciary Proposal Members of Congress and their invited experts discussed the pros and cons of the Department of Labor’s retirement security proposal.
Compliance | January 9th, 2024 Julie Su Nomination Returns to the Senate The uncertainty atop the Department of Labor is especially relevant amid the financial industry’s response to the controversial retirement security...
Compliance | January 8th, 2024 House Members Join Calls to Withdraw DOL Fiduciary Proposal A letter, signed by representatives from both sides of the political aisle, argues the proposed DOL rule changes are unnecessary...
Compliance | January 3rd, 2024 Fiduciary Proposal Comment Period Closes, Receives Both Praise and Criticism Morningstar argued that the DOL proposal would lower fees for smaller plans, while ACLI argued it would reduce access to...
Compliance | December 29th, 2023 ASA Calls Fiduciary Proposal Unlawful, Anticipates Litigation Group questions authority of Acting Labor Secretary Julie Su to approve any final rulemaking.
Compliance | December 22nd, 2023 DOL Proposes to Rescind 2018 Association Health Plan Rule The original rule, had it not been vacated by a federal court, would have significantly relaxed the parameters for creating...
Compliance | December 21st, 2023 Empower Calls on DOL to Withdraw Fiduciary Proposal According to the recordkeeping giant, the proposal would reduce plan and participant access to sales conversations and recordkeeping services.