A plan sponsor asserts that an audio recording of a claims inquiry was made for quality assurance purposes and was not part of the administrative record, but the Department of Labor has a different... Read More
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Regulatory Agencies
BY Ted Godbout | 6/29/2021
The Securities and Exchange Commission has named a new Director of Enforcement, after the previous director resigned after only a week in that post.
Effective July 26, 2021, Gurbir S. Grewal... Read More
BY John Iekel | 6/25/2021
The Department of Labor (DOL) announced June 23 that it is reopening the comment period for amendments to class exemptions from prohibited transaction rules set forth in ERISA and the... Read More
BY Ted Godbout | 6/16/2021
If the threat of a cybersecurity breach wasn’t enough cause for concern to take action, an inquiry by the Department of Labor might do the trick.
“We can confirm that the DOL has begun... Read More
BY Ted Godbout | 6/15/2021
The Treasury Department and the Securities and Exchange Commission offered a look at their regulatory priorities for the coming months on June 11, including proposals in the pre-rule and final stages... Read More
BY Ted Godbout | 6/14/2021
The Department of Labor’s newly released Spring 2021 regulatory agenda confirms that a fiduciary rule rewrite is in the works and provides other key insight for the department’s regulatory plans for... Read More
BY Ted Godbout | 5/11/2021
Amid ongoing questions surrounding the use of private equity investments in professionally managed funds within 401(k)s, a senior Labor Department official confirmed that the department is conducting... Read More
BY John Iekel | 5/10/2021
The IRS has announced the health savings account (HSA) limits for 2022. The announcement came in IRS Revenue Procedure 2021-25.
HSA Limits
For calendar year 2022, the annual limitation on... Read More
BY Nevin E. Adams, JD | 5/7/2021
The Chairpersons of two of the leading retirement plan committees in Congress are calling for a review of…target-date funds.
Sen. Patty Murray (D-WA), Chair of the Senate Committee on Health,... Read More
BY Nevin E. Adams, JD | 5/4/2021
When the Labor Department issued last month what it called “new guidance” that it further described as “the first time the department’s Employee Benefits Security Administration has issued... Read More
BY Ted Godbout | 4/30/2021
The Department of Labor will revisit Prohibited Transaction Exemption 2020-02 and the rules on Financial Factors in Selecting Plan Investments and proxy voting issued in the final weeks of the Trump... Read More
BY Ted Godbout | 4/27/2021
The President’s choice of a former Obama administration official to serve as the top policy director at the Department of Labor signals the advent of a progressive regulatory agenda. ... Read More
BY Ted Godbout | 4/20/2021
Just two days after being sworn in as Chair of the Securities and Exchange Commission, Gary Gensler has already named four senior staffers, one of whom could signal a pivot toward an activist... Read More
BY Ted Godbout | 4/14/2021
The Senate has now approved President Biden’s nominee to chair the Securities and Exchange Commission, setting the stage for a shift in power—but there is a minor catch.
The full Senate... Read More
BY John Iekel | 4/14/2021
The DOL's Employee Benefits Security Administration issued guidance April 14 on cybersecurity best practices for recordkeepers, plan sponsors and fiduciaries, participants and beneficiaries.... Read More
BY Ted Godbout | 4/12/2021
During examinations of investment advisers, registered investment companies and private funds engaged in ESG investing, SEC staff have observed instances of potentially misleading statements,... Read More
BY John Iekel | 3/30/2021
The IRS is delaying the deadline by which 2020 contributions to IRAs and Roth IRAs must be made until May 17, 2021. The terms of the delay are specified in IRS Notice 2021-21, issued March... Read More
BY Ted Godbout | 3/23/2021
The Senate has confirmed President Biden’s nominee to lead the Department of Labor.
Boston Mayor Marty Walsh was confirmed by the Senate March 22 by a vote of 68-29. He is the last of... Read More
BY NAPA Net Staff | 3/23/2021
Citing an increase in demand for information, the Securities and Exchange Commission has launched a new environmental, social and governance (ESG) investing resource page on its website.
According... Read More
BY Ted Godbout | 3/19/2021
A group of Senate Republicans is unhappy with the Department of Labor’s announcement regarding its enforcement position on the final ESG and proxy voting rules.
In a March 18 letter to Al... Read More
BY Ted Godbout | 3/16/2021
Citing the demand for climate change information and questions about whether current disclosures adequately inform investors, the Securities and Exchange Commission is requesting input from investors... Read More
BY Ted Godbout | 3/16/2021
Julie Su, who was nominated by President Biden to serve as Deputy Secretary of Labor, spent much of her nomination hearing defending her record as California’s labor secretary, but she did field... Read More
BY NAPA Net Staff | 3/15/2021
While it hasn’t been officially announced, published reports say that the vote to confirm Boston Mayor Martin Walsh as Secretary of Labor isn’t far off.
Citing an unnamed source, the Boston... Read More
BY Ted Godbout | 3/10/2021
A March 10 announcement by the Department of Labor’s Employee Benefits Security Administration provides a precursor to the direction it plans to take on the recently finalized rules. ... Read More
BY Ted Godbout | 3/2/2021
President Biden’s nominee to serve as chairman of the Securities and Exchange Commission heard calls from senators to address a wide range of public policy initiatives before the SEC. ... Read More
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