The associated instructions have also been updated to reflect, among other changes, an increase to $2,194 per day in the maximum civil penalty amount assessable under ERISA Section 502(c)(2).
Both the Department of Labor and the Securities and Exchange Commission are revisiting their proxy voting rules, creating an opportunity for greater regulatory alignment.
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.
Retirement plan service providers generally support making electronic delivery of documents the default, but print communication industry organizations and some consumer groups say the paper default should remain.
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.
Experts discuss changes that will affect advisers, such as Reg BI, the new Customer Relationship Summary form and the DOL, post-Secretary Acosta.
Fiduciaries were ordered to restore $6,502,500 to the plan for an overpriced purchase.
After previously failing to get DOL approval for a target-date fund design that involves an annuity and reinsurance component, LGIMA hopes the Trump Administration will more readily allow such private sector innovations.
In a new Field Assistance Bulletin, the DOL addresses a set of common errors made by multiple employer plans as they attempt to comply with a reporting rule introduced in 2014.
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.
GAO says the two agencies do not share enough information on these exemptions, and that sharing more information would lead to greater transparency and consistency.
Expert ERISA attorneys have been eagerly awaiting the Supreme Court’s decision in a case called Kisor v. Wilkie. The complicated ruling issued Wednesday is the most significant of the term for the retirement plan audience.
By the time the 5th Circuit vacated the DOL fiduciary rule expansion last year, advisory and brokerage firms had spent many millions of dollars to comply with the rule. Congressional Democrats want to know more about what’s happened since.