DOL Issues

One of the most active ERISA litigation firms has now turned its attention to a mammoth 403(b) plan. The suit (Garnick v. Wake Forest Univ. Baptist Med. Ctr., M.D.N.C., No. 1:21-cv-00454, complaint 6/4/21) was filed in the in the U.S. District Court for the Middle District of North Carolina by... READ MORE

Last fall the nation’s highest court sought the federal government’s input on a case that the law firm of Schlichter Bogard & Denton says is having a “chilling effect” on excessive fee litigation—and now the federal government has weighed in. Simply stated, “in the view of the United States,... READ MORE

Bipartisan legislation creating a national lost-and-found database to help plan participants keep track of their retirement accounts has been introduced once again, but the bill’s prospects may be different this year.  Sens. Elizabeth Warren (D-MA) and Steve Daines (R-MT) reintroduced the... READ MORE

In MarketBeat, John Iekel writes about the take of Kelsey Mayo, ASEA Director of Regulatory Policy and Partner at Poyner & Spruill LLP, on missing participants and what to do about them in her recent discussion of plan freezes and terminations. READ MORE

The Department of Labor’s Employee Benefits Security Administration (EBSA) on April 14 issued comprehensive guidance on cybersecurity from a variety of perspectives. Cybersecurity is the goal, and now even more of an imperative since in that guidance, the DOL says that “responsible plan... READ MORE

The 9th U.S. Circuit Court of Appeals on May 6 affirmed a district court ruling that CalSavers, the state-run retirement program that provides coverage for employees whose employers do not offer a retirement plan, is not preempted by ERISA.  The 9th Circuit in Howard Jarvis Taxpayers Association v... READ MORE

Editor’s Note: This is the first in a series about the guidance the Department of Labor’s Employee Benefits Security Administration (EBSA) issued on April 14 concerning cybersecurity.  The Department of Labor’s Employee Benefits Security Administration (EBSA) on April 14 issued comprehensive... READ MORE

New DOL guidance on fiduciary investment advice provides important insights on the agency’s perspective on the new rule, particularly as it relates to rollover advice—and a reminder that other changes may well lie ahead. The guidance, released April 13, relates to the department’s “Improving... READ MORE

The Department of Labor’s (DOL) fiduciary rule still generates discussion. That’s staying power—it was first proposed more than a decade ago. A March 31 NTSA webcast took a look at the rule and current developments involving it.  In “How the Fiduciary Rule Affects Advisors and Other Retirement... READ MORE