DOL Compliance Notice Warns Against Crypto Risks
The DOL’s Compliance Assistance Release No. 2022-01 urges plan fiduciaries to exercise ‘extreme care’ before they consider adding a cryptocurrency option to a 401(k) plan’s investment menu.
Tag: DoL
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.
DOL to Hold Fiduciary Responsibilities Webcast Series in March
The agency says the webcasts will help employers and service providers understand provisions of ERISA and how to avoid common problems in plan management.
Understanding PRT: Fiduciary and Admin Considerations
When transferring pension risk via a full or partial buy-in or buy-out, plan sponsors have a fiduciary obligation to ensure the transaction is implemented in compliance with the Employee Retirement Income Security Act.
Analyzing Retirement Industry Cybersecurity Risks and Best Practices
A certain famous bank robber is said to have explained that he robbed banks because ‘that’s where the money is.’ As of the end of 2021, U.S. retirement plans now have a significant amount of money, with more than $37 trillion of assets.
ERISA vista
An Objectivity Lesson
The more objective the presentation, the less likely it will seem like advice.
Compliance Consult
Best Execution Standard
Professionals must meet this bar, to apply PTE 2020-02.
Compliance
Compliance
Compliance
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 to climate change.
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.
ERISA vista
Nonenforcement Policies
Some of the DOL’s prohibited transaction exemptions apply now.
Compliance Consult
‘Window’ of Opportunity
Brokerage accounts open up possibilities for service—but also for PTs.
Trends
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 in place by the prior administration.
The Greening of Proxy Voting
ESBA’s rule, making voting more transparent, will call for new adviser services.
Compliance
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 not required to consider them in their investment selection.
Compliance
Compliance
Compliance
Compliance
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 of Labor is paying special attention to these relationships.
Compliance
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 value to benefit themselves and two board member's children.