DOL Issues
Another excessive fee suit has been filed against a billion dollar university 403(b) plan, though it treads familiar ground(s).
The latest (Santiago v. Univ. of Miami, S.D. Fla., No. 1:20-cv-21784, complaint filed 4/29/20) was brought by plaintiffs Augustino Santiago, Lilly Leyva, Guillermo...
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Tech Talk addresses what happens after an audit of a retirement plan is conducted, and the questions one may ask of an auditor.
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Under the Department of Labor’s 2012 final rule to improve transparency of fees and expenses to plan participants, investment-related information also must be provided. This category contains several subcategories of core information about each investment option under the plan, including the...
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The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) has issued “deadline relief and other guidance” related to the impact of the Coronavirus outbreak—including expanded “good faith” application of electronic delivery.
EBSA Disaster Relief Notice 2020-01 extends the time...
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Updated July 7, 2020
NTSA provides extensive coverage concerning a host of aspects of the pandemic and its consequences for plan sponsors, administrators, service providers and participants. This includes how developments resulting from it have affected plans and participants, and how they can...
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Under the Department of Labor’s 2012 final rule to improve transparency of fees and expenses to plan participants, if there is a change to a designated investment alternative's fee and expense information after the plan administrator has furnished the annual disclosure to participants and...
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Assistant Secretary of Labor Preston Rutledge is planning to leave his post at the end of May.
Rutledge was nominated to the post in October 2017 by President Trump. He was confirmed by voice vote of the Senate later that same year.
His tenure included a number of significant regulatory advances...
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when much of the nation is working remotely, the Labor Department’s final rule on electronic disclosures has been delivered to the White House’s Office of Management and Budget for review.
“We are going to be pushing to get this finalized as soon as possible under the circumstances,” noted Brian...
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Under the Department of Labor’s 2012 final rule to improve transparency of fees and expenses to plan participants, must a plan administrator furnish a single, unified comparative chart or may multiple charts, supplied by the plan's various service providers or investment issuers, be furnished to...
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Tech Talk addresses whether one should request references and check licenses of an auditor before engaging them to audit a plan.
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The IRS has published some good news for Form 5500 filers—well, some Form 5500 filers. And that includes some 403(b) plans.
Under Notice 2020-23, released April 9, the extensions[i] generally now apply to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and...
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Under the Department of Labor’s 2012 final rule to improve transparency of fees and expenses to plan participants, investment-related information must be furnished to participants or beneficiaries on or before the date they can first direct their investments, and then again annually thereafter. ...
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Tech Talk discusses engagement letters that auditors prepare before they conduct their review of a plan.
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In MarketBeat, Robert Richter writes that determining a participant’s employment status, more specifically whether there has been a severance of employment, must be made in order to apply a wide variety of rules that apply with qualified plans, Code Section 403(b) arrangements and 457(b) plans.
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Questions regarding the administration of the CARES Act have been pouring in—and we’ve got answers!
As part of a series of recent webcasts, we have received a large number of questions from our members regarding key operational and administrative aspects of the Coronavirus Aid, Relief and Economic...
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An ERISA preemption challenge to the CalSavers Retirement Savings Program is gearing up for another go at it.
The Howard Jarvis Taxpayers Association has filed a notice in Howard Jarvis Taxpayers Ass’n. v. Calif. Secure Choice Ret. Sav. Program, E.D. Cal., No. 2:18-cv-01584, notice of appeal 4...
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Under the Department of Labor’s 2012 final rule to improve transparency of fees and expenses to workers in 401(k)-type retirement plans, in addition to other plan-related information that must be disclosed, participants also must receive statements of actual charges or deductions.
Participants...
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n March 31, the American Retirement Association (ARA) provided an expert discussion of the key elements in the Coronavirus Aid, Relief and Economic Security (CARES) Act in a special webcast.
The ARA’s Retirement Education Counsel Robert Richter, Director of Technical Education Bob Kaplan and Marty...
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The American Retirement Association (ARA) on March 30 requested relief from the Department of Labor’s Employee Benefits Security Administration (EBSA) on certain ERISA notice and disclosure requirements. The ARA made the request in a March 30 letter to the Honorable Preston Rutledge, DOL Assistant...
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President Trump on March 27 signed into law the sweeping $2.2 trillion stimulus bill that includes retirement relief provisions supported by the American Retirement Association.
It wasn’t easy—or at least not as easy as it might have been—but the signing of the Coronavirus, Aid, Relief and...
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