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 EBS has issued temporary implementing FAQs on the requirement to add lifetime income illustrations to pension benefit statements.
August 02, 2021
DOL Issues Guidance to Reduce Number of Missing Plan Participants
The DOL has issued guidance that describes best practices for plan fiduciaries to help reduce the number of missing participants and ensure that plan participants and beneficiaries “receive promised benefits when they reach retirement age.”
January 25, 2021
The DOL has adopted a prohibited transaction class exemption to allow investment advice fiduciaries to receive compensation for providing fiduciary investment advice and to engage in certain principal transactions.
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.
December 21, 2020
IRS Makes Cost-of-Living Adjustments for Retirement Plans
The IRS has announced cost-of-living adjustments for retirement plans for the 2021 tax year.
November 24, 2020
DOL Adopts Registration Requirements for Pooled Plan Providers
The 2019 SECURE Act created a new type of multiple employer retirement plan called a pooled employer plan (PEP).
November 17, 2020
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