Tag: Department of Labor (DOL)
DOL Publishes RFI on Climate-Related Financial Risks to Savings
The Department of Labor wants help identifying actions it can take to safeguard employees’ savings and pensions from threats related...
Hub Expects Good Retirement Outcomes for American Workers
A solid retirement plan is essential for workers’ financial well-being and may be just as important as health benefits, the...
DOL’s EBSA Secretary Nominee Advanced by HELP Committee
The Biden administration’s nomination of Lisa Gomez to lead the DOL’s Employee Benefits Security Administration took a key step forward Thursday.
DOL Cautions Small Plan Fiduciaries Against Diving Into Private Equity Investments
The agency issued a supplemental statement in response to stakeholder concerns that private equity investments could be inappropriate for small DC plans.
Compliance Consult
‘Window’ of Opportunity
Brokerage accounts open up possibilities for service—but also for PTs.
Trends
An ESG Framework Here to Stay?
The DOL’s proposed rule on ESG investing supports broader use of green options in retirement plans and removes barriers put...
Trends
The Greening of Proxy Voting
ESBA’s rule, making voting more transparent, will call for new adviser services.
Groups Suggest DOL Take Certain Language Out of Proposed ESG Rule
While expressing support for the rule, they say removing specific references to ESG factors will help fiduciaries understand they are...
Senators and Investment Group Push Back on DOL ESG Proposal
They say the latest proposed regulations ‘dismantle important actions’ taken by the previous administration and politicize retirement savings.
DOL Seeks Information From Alight Solutions About Cybersecurity Incidents
Alight has been sued by retirement plan participants whose accounts were hacked, and the Department of Labor is investigating the provider's practices.
DOL Enforcements Result in $2.4B in Recoveries for Plans, Participants and Beneficiaries
An Employee Benefits Security Administration report offers insight on how the agency gets leads for its enforcement actions.
Provider Reviews, Contracts Emphasized in DOL Cybersecurity Guidance
Retirement plan fiduciaries often rely on their service providers to create the electronic systems used to maintain participant data and conduct electronic transactions involving plan assets—so the Department...
Fiduciaries Accused of Shortchanging Participants in ESOP Sale
A Department of Labor lawsuit says the fiduciaries allowed the ESOP's ownership shares to be sold for less than market...
Op-Ed: ERISA Prudence Demands Healthy ESG Skepticism
Neal Shikes agrees that ESG factors can be an important part of institutional investors’ methodologies, but he also says retirement...
Expect the SEC To Get Tougher on Advisers, Advocate for Retirement Savers
The change in agency leadership has driven a clear change in focus and a new sense of urgency to act...
Could This Be a DOL ESG Framework That’s Here to Stay?
In addition to the important practical takeaways of the DOL’s proposed rule on ESG investing and proxy voting, sources say...
DOL Provides Transitional Relief for Investment Advice Rules
A newly issued Field Assistance Bulletin provides that investment advice fiduciaries now have until January 31, 2022, to comply with the impartial conduct standards in the fiduciary prohibited...
Compliance News
Legislative and Judicial Actions
The SEC returns to cybersecurity enforcement pledge; Form 5500 revisions; revenue-sharing disclosure failures result in SEC action; and more.