Information Copies of the 2019 Form 5500 Published
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).
Tag: DoL
DOL and SEC Weigh New Proxy Voting Standards
Both the Department of Labor and the Securities and Exchange Commission are revisiting their proxy voting rules, creating an opportunity for greater regulatory alignment.
DOL, IRS Guidance and Enforcement May Change Under Executive Orders
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.
EBSA Reorganization May Bring Positive Changes
Industry sources speculate that the DOL's new structure for its Employee Benefits Security Administration will result in more guidance and fairer enforcement.
While Popular, Default Electronic Delivery of Plan Documents Irks Some
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.
Senate Confirms Eugene Scalia as Labor Secretary
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.
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PANC 2019: Washington Update
Experts discuss changes that will affect advisers, such as Reg BI, the new Customer Relationship Summary form and the DOL, post-Secretary Acosta.
State AGs’ Lawsuit Just One Part of Broader Fiduciary Fight
There is an all-out regulatory tug of war going on between consumer groups, the brokerage industry, the states and the SEC.
Court Finds Red Flags Ignored in ESOP Valuation
Fiduciaries were ordered to restore $6,502,500 to the plan for an overpriced purchase.
Will Trump Administration Prove Friendlier to Retirement Plan Innovators?
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.
The DOL’s Fiduciary Race Ahead of 2021
There is precious little time remaining for the proposal and adoption of any new advisory industry conflict of interest rules that the DOL hopes to make effective during this presidential administration.
A DOL Secretary Scalia Would Quickly Find Direction
Having served as the DOL Solicitor General under the Bush Administration, experts suggest, Eugene Scalia would likely hit the ground running as a Labor Secretary with a conservative agenda.
For a Limited Time, MEPs Can Fix This Form 5500 Mistake
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.
DOL Issues Final Association Retirement Plans Rule
In addition to the final ruling, the department has also released a 16-page request for information (RFI) on open MEPs.
Trump Announces Nomination for Secretary of Labor
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.
Labor Secretary Acosta Resigns Amid Controversy
President Donald Trump announced Deputy Labor Secretary Patrick Pizzella will replace Acosta's role in an acting capacity.
GAO Calls for DOL-IRS Collaboration on Prohibited IRA Transaction Exemptions
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.
The Case That Almost Demolished the Retirement Plan Regulatory System
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.
Self-Correction and Compliance Tips from Former IRS Attorney
There are many fiduciaries out there who are not educated on the voluntary corrections programs run by DOL and IRS. Former IRS staffer Lisa Tavares says they are taking unnecessary risk.
Fog Still Hangs Over Defunct DOL Fiduciary Rule’s Influence
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.