Legislative and Judicial Actions

The DOL updates auditor independence rules; the IRS extends plans’ amendment deadlines for certain CARES Act and Tax Relief Act provisions; MarylandSaves, the latest state-run plan, launches; and more.

Is the Qualified Professional Asset Manager Exemption in Jeopardy?

One expert attorney says that while a recent regulatory proposal issued by the DOL seems sensible, as it seeks to clarify when and how qualified professional asset managers can work with retirement plans and other ERISA-covered investors, the complexity of the package gives her pause.

Legislative and Judicial Actions

The DOL denies general support for private equity; the Supreme Court sends ‘Northwestern’ back to the appeals court; the PBGC funds a second failing pension; and more.