The ERISA Fiduciary Advice Exemption
Compliance with the DOL fiduciary advice exemption is now required if making a recommendation to roll assets out of an ERISA plan.
June 23, 2022
IAA Comments to DOL on Addressing Climate-Related Financial Risks in Retirement Plans
In response to a DOL request for information on climate-related financial risks in retirement plans, we recommend that rulemaking be principles-based and not favor any type of investment strategy — and that the DOL should coordinate with the SEC.
May 25, 2022
DOL Provides Guidance on the Use of Cryptocurrencies in ERISA Plans
The DOL cautions plan fiduciaries to exercise extreme care before they consider adding a cryptocurrency option to a 401(k) plan’s investment menu for plan participants.
March 11, 2022
Tags: Digital Assets, ERISA
Supreme Court Reaffirms Duties of ERISA Fiduciaries to Monitor and Update Plan Options
The Supreme Court held that an ERISA fiduciary must continually monitor and remove imprudent investments, even where investors are offered other options.
January 26, 2022
Tags: ERISA
Lawsuit on Use of Private Funds in Retirement Plan Dismissed
The claims alleged that plan fiduciaries of two defined contribution plans violated their ERISA duties by offering alternative investments that were expensive and performed poorly.
January 19, 2022
Tags: ERISA, Private Funds
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 has issued a set of FAQs on the exemption.
April 16, 2021
Tags: DOL, ERISA, IRAs, Retirement Plans
DOL Will Not Enforce ESG and Proxy Rules, Pending Agency Review
In a welcome development, the Department of Labor has announced that it intends to revisit the recently adopted ESG rule and proxy rule.
March 10, 2021
Tags: DOL, ERISA, ESG, Fiduciary, Proxy Voting
Following Weeks of Speculation, DOL Confirms February 16 Effective Date for Fiduciary Exemption
The DOL has issued a press release in which it confirmed that the fiduciary exemption, titled “Improving Investment Advice for Workers and Retirees,” will go effective as scheduled on Tuesday, February 16, 2021.
February 16, 2021
Biden Administration Acts Aggressively on Day 1 Regarding Regulatory Process
President Joe Biden was sworn into office on January 20, 2021, and right out of the gate issued several executive orders and presidential actions that in many cases overturned actions and policies of the Trump Administration.
January 26, 2021
Tags: Compliance, DOL, ERISA, ESG, Executive Order, Fiduciary, Marketing Rule, Proxy Voting
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
Tags: DOL, ERISA, Retirement Plans