Settlement Reached with Couple that Lost Millions in Profit-Sharing Plan
The pair will pay more than $2 million to settle claims they invested assets in companies in which they had...
Tag: Department of Labor (DOL)
Wells Fargo Is Targeted in ERISA Lawsuit Alleging Self-Dealing
The Wells Fargo retirement plan fiduciaries are accused of engaging in prohibited transactions and breaching their fiduciary duty to participants.
Gomez Confirmed as New Head of EBSA
The full Senate voted, 49-36, to confirm Lisa Gomez as the new assistant secretary of labor for the Employee Benefits...
What Is the DOL’s Plan If the Government Shuts Down?
Like most organs of the federal government, the Labor Department maintains an explicit policy for government shutdowns as a consequence...
Senator Calls for Confirmation Vote on Assistant Secretary of Labor Nominee
Senator Patty Murray takes the 48th anniversary of ERISA to emphasize the importance of having a proper secretary to oversee...
DOL to Host Webinar on Women’s Retirement Security
The webinar will provide steps women can take that will have a positive impact on their financial future.
DOL Extends Comment Period, Sets Hearing on QPAM Exemption Amendment
The complexity of the proposed reforms to the qualified professional asset manager exemption has given some experts pause.
DOL Sues Couple, Alleges They Lost Millions in Profit-Sharing Plan
A prominent New Jersey couple faces allegations that they invested plan assets in companies in which they had significant financial...
DOL Updates Guidance on Audit Independence Rules
Labor Department leadership says the update is designed to expand retirement plans’ access to highly qualified auditors and audit firms.
Union Pension in Puerto Rico Latest to Receive PBGC Relief
With its latest relief payment, the Pension Benefit Guaranty Corporation has now distributed more than $7.5 billion to stressed union...
DOL Announces Fiduciary Responsibilities Seminar in Dallas
The agency says compliance can be challenging for small and medium-sized employers who have limited time, resources and access to professional help.
Is the Qualified Professional Asset Manager Exemption in Jeopardy?
One expert attorney says that while a recent regulatory proposal issued by the DOL seems sensible, as it seeks to...
Senators Raise Concerns About Bitcoin in Retirement Plans
Several U.S. Senators have sent a letter requesting answers from Fidelity on their decision to allow plan sponsors to offer...
DOL Proposes Qualified Professional Asset Manager Exemption Changes
The Labor Department’s proposed amendment to a widely utilized prohibited transaction exemption is meant to ensure the exemption continues to...
PBGC Issues Final Rule for Stressed Union Pension Payments
To date, the Pension Benefit Guaranty Corporation’s multiemployer pension support program has operated on an interim rule and has protected nearly 130,000 individuals’ pension benefits across some 560...
ERISA vista
Cryptocurrency in DC Plans
The DOL explains the digital investment products’ risks and challenges.
MODERN INVESTMENT MENU / CRYPTOCURRENCY
Fool’s Gold for 401(k)s?
The DOL’s guidance on cryptocurrency causes much confusion.
Ready for PTE 2020-02 July 1 Enforcement?
The July 1 enforcement date for the Department of Labor’s new best-interest rollover documentation requirements has been widely publicized, but...
Labor Secretary Walsh Talks Crypto, DOL Budget
Labor Secretary Marty Walsh testified to Congress that DOL is open to a rule that would regulate cryptocurrency in retirement...
Cybersecurity Is Everyone’s Responsibility
Retirement benefit plans have deep pockets—filled with both assets and sensitive information—so it only makes sense that they are a...