On April 14th, 2021, the Department of Labor (“DOL“) issued cybersecurity guidance to plan sponsor and fiduciaries, recordkeepers and other service providers and participants and beneficiaries of plans regulated by the Employee Retirement Income Security Act of 1974, as amended
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Key Takeaways From The DOL’s “Best Practices” Missing Participant Guidance
All too often, retirement plan administrators and benefits attorneys encounter situations with missing participants or uncashed checks that result in head scratching and exasperation. It is difficult to believe that trying to deliver money to someone could produce such frustration,
Multiemployer and Single Employer Plan Provisions of the American Rescue Plan Act: Help is on the way!
This is the second of two installments on the American Rescue Plan Act of 2021 (ARPA). Mayer Brown’s first installment describes provisions of ARPA relating to COBRA premium subsidies, changes to the cap on pre-tax dependent care assistance benefits, changes
ARPA to the Rescue: COBRA Subsidies, DCAP Relief and More!
DOL Announces Non-Enforcement Policy of Recent ESG and Proxy Voting Rules
On March 10, 2021 the U.S. Department of Labor (“DOL”) released a policy statement that it will not enforce or otherwise pursue enforcement actions against a fiduciary for failing to comply with the “Financial Factors in Selecting Plan Investments” regulation
Court Rejects Plaintiffs’ Claims that Private Equity is Imprudent for 401(k) Plan
On January 21, 2021, the United States District Court for the Northern District of California granted a motion by the Intel Corporation Investment Policy Committee to dismiss all ERISA claims brought against it by two plan participants representing a class
After One Year, the Outbreak Period is Ongoing – What’s a Plan Sponsor to Do?
Last year, the Department of Labor (working in concert with other agencies) issued two notices extending a variety of benefit plan deadlines as a result of the COVID-19 national emergency, as discussed in detail in our May 2020 blog.
2021 Plan Sponsor/Fiduciary Compliance Checklist
Plan sponsors and fiduciaries may have spent 2020 scrambling to amend their plans and operating procedures to accommodate breaking COVID-19 guidance, but the Department of Labor’s (“DOL”) and federal courts’ wheels continued to turn, churning out decisions and guidance on
The First 100 Days: Changes Afoot for Health and Welfare Plans
IRS Makes Cost-of-Living Adjustments for 2021
This post has been updated as of March 25, 2021 to reflect changes made under the American Rescue Plan Act of 2021, as further described here.
The Internal Revenue Service (IRS) capped off a busy year with its annual