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Decisions, Decisions
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Tag: Department of Labor (DOL)
Survey Finds Changes among Plans Sponsored by Health Care Organizations
Regulatory changes and the recent economic downturn have led to changes in retirement plans sponsored by health care employers.
Lifetime Income Hearing Witnesses Demand Fiduciary Shield
A strong theme in testimony from witnesses at this week’s hearing into providing lifetime income options in retirement plans was a warning of how much sponsors fear incurring...
Clear Messages Given at DoL/Treasury Hearings
Forty-five companies and interest groups representing the retirement industry testified before the Department of Labor (DoL) and the U.S. Treasury yesterday and today to discuss lifetime income...
Comments Endorse Fee Disclosure Flexibility, Additional Compliance Time
A selection of the 44 comments received by the U.S. Department of Labor (DoL) about its pending fee-disclosure rule shows broad support for the rule’s intent, but continued...
EBSA to Issue Proposed Rule on ERISA Prohibited Transaction Exemption Procedures
The Department of Labor’s Employee Benefit Security Administration is issuing a proposed rule that would supersede the existing procedure governing the filing and processing of applications for administrative...
DoL Announces Agenda, Speakers for Lifetime Income Hearing
The U. S. Department of Labor’s Employee Benefits Security Administration (EBSA) has released the agenda for the upcoming joint hearing with the Department of the Treasury on lifetime...
EBSA Schedules VFCP Seminar for the Big Apple
The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will hold a free New York City workshop on September 1 about its Voluntary Fiduciary Correction Program (VFCP)....
DoL Issues New Fee Disclosure Rules
After months of anticipation, the Department of Labor (DoL) has released its interim final rule on fee disclosure.
MA Business Owner Misused Retirement Plan Money
A business owner in Holyoke, Massachusetts, has pleaded guilty to embezzling $45,000 from his employees' retirement plan.
EBSA Schedules Florida Benefits Seminar
The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) is offering a free workshop for employee benefit plan professionals, including clients of plan service providers.
Court Moves Forward Claims of Defaulted Participant
A federal court judge has refused to dismiss claims by a 401(k) participant that plan fiduciaries breached their duties when they transferred his accounts into a new default...
Perspective: Insights into Automatic Enrollment
Is it automatically the right strategy for your clients?
DoL Announces Two More Fiduciary Seminars
The Department of Labor’s Employee Benefits Security Administration has announced two upcoming dates for its “Getting It Right…Know Your Fiduciary Responsibilities” seminar.
EBSA Schedules June EFAST2 Webcast
Sponsors and plan service providers with questions about the U.S. Department of Labor’s ERISA Filing Acceptance System (EFAST2) can listen to an upcoming Webcast to get some answers.
DoL Repeats Safe Harbor Protection Argument
Secretary of Labor Hilda L. Solis has once again contended that safe harbor status does not shield fiduciaries from liability for imprudent plan investments.
Washington Prepares to Push through Fee Disclosure Regs, Financial Reform Legislation
While there are many legislative and regulatory proposals that could affect retirement plans, the financial reform bill and fee disclosure regulations are two actions to watch for next.
EFAST2 Adds Signature Option
The Employee Benefits Security Administration (EBSA) has announced that the EFAST2 electronic filing system for Forms 5500 and 5500-SF employee benefit plan annual reports has a new e-signature...
Nationwide Hosts Regulatory Conference Call for Retirement Plan Advisers
Nationwide Financial is hosting a conference call Monday to help retirement plan advisers get ahead of upcoming retirement plan regulation and legislative changes, such as fee disclosure.