DOL Proposes Updated Definition of Investment Advice Fiduciary
The Department of Labor (DOL) has issued a proposal to update the definition of an investment advice fiduciary under the Employee Retirement Income Security Act (ERISA). The updated definition of an investment advice fiduciary would apply when a financial service provider gives investment advice for a fee to retirement plan participants, IRA owners and others.
November 01, 2023
Fiduciary Duty and Investments in DC Plans | Three Tips for Plan Sponsors
Plan fiduciaries are charged with acting in the best interests of plan participants. What does that mean in practice, especially when it comes to selecting investments for defined contribution plans?
November 22, 2021
DOL Issues FAQs on Lifetime Income Illustrations
The Department of Labor’s Employee Benefits Security Administration (EBSA) has issued temporary implementing FAQs on the requirement to add lifetime income illustrations to pension benefit statements that was adopted under...
August 02, 2021
DOL Issues First Ever Cybersecurity Guidance
The DOL’s Employee Benefits Security Administration (EBSA) has issued its first ever cybersecurity guidance to help plan sponsors, fiduciaries, and record keepers protect plan participants and assets from both internal...
April 16, 2021
DOL Issues FAQs for Firms, Guidance for Investors on Fiduciary Exemption
Less than two months after allowing the Department of Labor’s new Fiduciary Exemption to take effect, the DOL’s Employee Benefits Security Administration (EBSA) has issued a set of frequently asked...
April 16, 2021
DOL Issues Guidance to Reduce Number of Missing Plan Participants
Calling attention to the fact that many retirement plan participants inadvertently fail to apply for their pension benefits upon retirement, the Department of Labor has issued guidance that describes best...
January 25, 2021
The DOL has adopted a prohibited transaction class exemption to allow investment advice fiduciaries, including investment advisers, to receive compensation for providing fiduciary investment advice, including advice about rollovers, and...
December 21, 2020
Regulators Release Advance Copies of Form 5500 Annual Report
The DOL and other regulators have released advance copies of the 2020 Form 5500 annual report that is filed by retirement plans, and related instructions. One of the changes noted...
December 21, 2020
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