DOL Amends Certain Prohibited Transaction Exemptions
The amendments remove credit rating requirements related to the evaluation of non-convertible debt securities, commercial paper and securities lending transactions.
Tag: Department of Labor
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 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.
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...
Compliance Consult
Cybersecurity and ERISA
DOL guidance should prompt clients to ask for help with compliance.
DOL Addresses Question About Providing Audio Recordings to ERISA Claimants
The requirement to produce requested documents and the definition of relevant documents addressed in a DOL information letter applies to...
Retirement Plan Clients Should Anticipate DOL Cybersecurity Inquiries
Attorneys have confirmed that the DOL has begun an audit initiative and is asking for a broad range of cybersecurity...
Executive Order Asks DOL to Consider Rescinding Last Rule on ESG Investing
President Joe Biden seems to want to pave the way for more environmental, social and governance investing in retirement plans.
Bill Would Allow Retirement Plans to Use ESG Investments
The legislation, which follows a year of back-and-forth on ESG investing, would amend ERISA to make it clear that plans...
DOL Issues Cybersecurity Guidance
The guidance, which is the first of its kind, includes best practices and tips for protecting retirement benefits.
DOL Releases Guidance on Investment Advice Exemption
This is meant to help retirement investors, employee benefit plans and investment advice providers.
GAO Turns to DOL for Additional Cybersecurity Guidance
The Government Accountability Office calls for more guidance on cybersecurity matters and lists recommendations for the DOL to implement.
DOL Says It Won’t Enforce Final Rules on ESG and Proxy Voting
The department says it will not pursue enforcement actions against any plan fiduciary for failure to comply, and it plans to release further guidance on the issues.
DOL Notifies Court It No Longer Supports Lawsuit Against CalSavers
A court filing cites the change in administration as the reason for backing out of the suit.