DOL Issues
In MarketBeat, Barry Salkin writes that it has only been in the last decade or so that there have been many cases analyzing whether an employee benefit plan, particularly a tax-qualified DB plan, constitutes a church plan.
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Sen. Lamar Alexander (R-TN), Chairman of the Senate Health, Education, Labor and Pensions (HELP) Committee, has announced that the Committee will hold a hearing on Sept. 19 to consider the nomination of Eugene Scalia to serve as Secretary of Labor.
President Trump had announced in July – via...
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Oct. 1, 2019 will bring more than just a new month — it also will herald a new EBSA. According to recent reports, the Department of Labor’s Employee Benefits Security Administration will be reorganized, effective that day.
The changes will expand the number of deputy assistant secretaries of labor...
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Right on schedule, the Department of Labor (DOL) has sent a proposed rule for electronic disclosures to retirement plan participants to the White House’s Office of Management and Budget.
The proposal, “Improving Effectiveness of and Reducing the Cost of Furnishing Required Notices and...
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In MarketBeat, John Iekel discusses a recent article that looks at the DOL rules for controlling fees and what they require, as well as how to protect employees from excessive fees.
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The Dog Days of August are here. But that does not necessarily mean doldrums — like the mercury, the heat is on. American Retirement Association Chief Government Affairs Officer Will Hansen in an Aug. 15 webinar provided a look at legislative and regulatory developments in Washington, DC and the...
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When it comes to ERISA litigation, we often only get to hear one side of the story – the plaintiffs’. But one of the defendants in an excessive fee case is fighting back.
The plaintiffs in this case are five employees of the Massachusetts Institute of Technology (MIT) and participants in the MIT...
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The Department of Labor’s Employee Benefits Security Administration (EBSA) is responsible for overseeing millions of employee benefit plans, including investigating retirement plans when necessary. A recent blog entry examines what an employer should know about that.
In Thompson Coburn LLP’s blog...
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In MarketBeat, ERISA attorney Heather B. Abrigo argues that missing participants, and the problems they occasion, are becoming a more prominent problem for plan administrators and offers practical steps in handling them.
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A senior Labor Department official suggests keeping an eye out for proposed guidance addressing electronic disclosure of retirement plan information.
Jeanne Wilson, Principal Deputy Assistant Secretary with the Department of Labor’s Employee Benefits Security Administration (EBSA), said the...
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At the opening session of the 2019 NAPA D.C. Fly-in Forum on July 23, NAPA Executive Director (and American Retirement Association CEO) Brian Graff noted that it’s a “hot mess” in Washington – both literally and figuratively.
Expressing his frustration that the bipartisan Setting Every Community...
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While there’s likely a rocky confirmation road ahead, President Trump has announced (via tweet) his choice as the next Secretary of Labor.
“I am pleased to announce that it is my intention to nominate Gene Scalia as the new Secretary of Labor,” Trump tweeted Thursday evening. “Gene has led a...
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Patrick Pizzella, the current Deputy Secretary of the Department of Labor, will take over as the Acting Labor Secretary in the wake of Alexander Acosta’s July 12 resignation.
Pizzella, who has served as the Deputy Secretary since April 2018, will likely serve as the Acting Secretary until a...
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American Retirement Association Chief Government Affairs Officer Will Hansen and past ASPPA President Stephen Dobrow offered testimony concerning benefit plan audits and how they may be improved at the June 25 meeting of the Department of Labor’s Advisory Council on Employee Welfare and Pension...
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Secretary of Labor Alex Acosta has resigned in the wake of controversy regarding a plea deal he negotiated more than a decade ago with wealthy financier Jeffrey Epstein.
Acosta made the announcement to reporters while standing next to President Donald Trump outside the White House. Trump said that...
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The Department of Labor’s Employee Benefit Security Administration provides material intended to assist plan administrators in selecting a plan auditor. Tech Talk provides a quick look at some of the qualities that a plan auditor should have.
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The Department of Labor (DOL) is preparing to act on a variety of issues relevant to retirement plans and participants, according to a department official who offered an outline at a June 5 session of the SPARK national conference held in Falls Church, VA.
Jeanne Klinefelter Wilson, Deputy...
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Is there a requirement that for non-ERISA Section 403(b) or Section 457(b) loans, the interest rate on the loan must be prime plus 2%? In Tech Talk, Sue Diehl tells us.
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Former American Retirement Association President Marcy L. Supovitz has been named to the ERISA Advisory Council, which advises the Labor Department on policies and regulations regarding ERISA plans.
The 15-member council (formally titled the Advisory Council on Employee Welfare and Pension Benefit...
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Under questioning at a May 1 hearing on Capitol Hill, Secretary of Labor Alexander Acosta appeared to confirm that the Department of Labor will issue a new fiduciary rule.
Acosta appeared before the House Education and Labor Committee for a hearing to examine the policies and priorities of the...
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