Tag: Department of Labor

An Information Letter addresses private equity investments as a component of a professionally managed asset allocation fund and outlines what plan fiduciaries should consider.

The DOL alleged Wilmington Trust caused losses to ESOPs when it authorized them to pay more than fair market value for privately held employer stock.

An executive order requires each agency to establish on its website a single, searchable indexed database that contains, or links to, all the agency’s guidance documents and provides certain information about them.

Failure to find missing participants could disqualify a retirement plan under the tax code and lead to breaches of the ERISA fiduciary duty.

The Democratic presidential candidate tells Department of Labor Secretary Scalia she fears the DOL is considering standards of conduct that would permit advisers providing advice on retirement savings to engage in conflicts of interest.

The DOL is aiming to "modernize fiduciary practices related to the voting rights associated with ERISA plan investments and harmonize those regulations with the requirements of other regulators.”

Two executive orders could lead to more formal guidance and a halt on enforcement without proper guidance in place, attorneys from Groom Law Group explain.

Industry sources speculate that the DOL's new structure for its Employee Benefits Security Administration will result in more guidance and fairer enforcement.

Eugene Scalia is known for having worked in the trenches of a number of labor issues for many years, and experts suggest he could have a big influence on the DOL’s agenda.

Fiduciaries were ordered to restore $6,502,500 to the plan for an overpriced purchase.

In addition to the final ruling, the department has also released a 16-page request for information (RFI) on open MEPs. 

Eugene Scalia, son of late Assistant Supreme Court Justice Antonin Scalia, was part of the team that defended the Chamber of Commerce in its lawsuit against the previous DOL fiduciary rule.

President Donald Trump announced Deputy Labor Secretary Patrick Pizzella will replace Acosta's role in an acting capacity. 

During a House committee hearing in early May, Secretary of Labor Alexander Acosta said the Department of Labor (DOL) is working with the Securities and Exchange Commission (SEC) to propose a rule that will protect investors.

The one in Detroit will take place on June 5 and in Wilmington, Delaware, June 25

The Department says it recognizes that severe storms may impede efforts by plan fiduciaries in Nebraska, Iowa and Alabama to comply with the Employee Retirement Income Security Act (ERISA) over the next few months.