Compliance | February 11th, 2022 DOL Seeks Public Comments on Protecting Savings From Climate Change The agency is looking to identify actions it can take under ERISA and other relevant laws to safeguard employees’ savings...
Compliance | February 4th, 2022 DOL Announces Enforcement Actions for Abandoned Plan and Missed Contributions The Department of Labor announced judgments against a pair of plan sponsors to restore employees’ retirement plan contributions after ERISA...
Compliance | January 13th, 2022 Senate Committee Advances EBSA Secretary Nominee Lisa Gomez, the candidate to serve as the DOL’s assistant secretary for the Employee Benefits Security Administration, will now face...
Compliance | January 6th, 2022 DOL Recovers Money for ESOP Participants The Department of Labor ordered the former trustee to restore $8.4 million and plan fiduciaries to restore nearly $1 million...
Investing | January 5th, 2022 Practical Implications of DOL’s Latest Private Equity Statement The Department of Labor’s supplemental statement is a tonal shift rather than a substantive change that reflects the continuing courtship...
Compliance | January 5th, 2022 ESOP Sponsor Settles Allegations of ERISA Violations With the DOL Mohawk Hospital Equipment will transfer $431,000 worth of stock to participants and pay a fine.
Compliance | December 22nd, 2021 DOL Clarifies Stance on Private Equity Investments in DC Plans The supplemental statement refines its June 2020 information letter on including private equity investments in participant-directed retirement savings plans.
Compliance | December 16th, 2021 Plan Fiduciary Sentenced for 401(k) Plan Embezzlement He pleaded guilty after the DOL found he fraudulently collected between $15,000 and $40,000 from plan participants’ accounts.
Compliance | December 15th, 2021 2022 ERISA Plan Compliance Calendar A schedule to help plan sponsors track important due dates for their plan
Compliance | December 14th, 2021 Groups Express Support for DOL’s Proposed ESG Rule They made suggestions that addressed others’ concerns that plan fiduciaries would consider the language of the rule as a mandate...
Compliance | December 13th, 2021 DOL Urged to Withdraw Proposal on ESG Investments in Retirement Plans A group of senators and the ASA issued letters saying the newly proposed rule weakens protections for retirement plan investors...
Compliance | December 2nd, 2021 Alight Ordered to Comply With DOL Subpoena Related to Cybersecurity Incidents A Department of Labor investigation was prompted, in part, by its discovery that Alight had processed unauthorized distributions from retirement...
Compliance | November 30th, 2021 Report Offers Insight on How DOL Gets Leads for Benefit Plan Enforcements The Employee Benefits Security Administration recovered $2.4 billion for plans, participants and beneficiaries in FY 2021.
Ask the Experts | November 30th, 2021 Satisfying Electronic Disclosure Requirements for SPDs to New Hires Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations.
Compliance | November 12th, 2021 2021 Best Practices Conference: Understanding ERISA and Fiduciary Fundamentals Attendees at the virtual conference learned about what it takes to operate a plan that complies with all regulatory responsibilities...
Compliance | November 5th, 2021 Service Provider Collaboration and the DOL’s Cybersecurity Guidance Retirement plan sponsors may have difficulty achieving full compliance with the DOL’s cybersecurity guidance because many of the required actions...
Compliance | November 2nd, 2021 DOL Alleges ESOP Sale Illegally Benefited Plan Fiduciaries and Their Children The Department of Labor says the plan’s ownership interest was sold for less than market value, effectively transferring the rest...
Compliance | October 26th, 2021 A Pro-ESG Framework That Could Finally Stick Now that industry experts have had some time to digest the DOL’s new proposal regarding the use of ESG investment...
Compliance | October 18th, 2021 New Financial Audit Rule Increases Requirements for Plan Sponsors Plan sponsors will be required to provide much more data, as well as certifications about plan administration and governance, and...
Compliance | October 13th, 2021 DOL Proposes New Rule on ESG Investing in Retirement Plans The agency says the proposal seeks to emphasize that climate change and other ESG factors can be financially material and...