As the end of the year approaches, there are important notices, deadlines and some changes that plan sponsors need to be aware of to keep their plans in compliance. As an advisor, you can rely solely... Read More
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Regulatory Compliance
BY Fred Barstein | 11/13/2013
Speaking at SIFMA’s annual conference in New York City this week, SEC Chair Mary Jo White indicated that her agency is looking to increase exams of RIAs as much as possible, budget permitting.... Read More
BY Fred Barstein | 11/7/2013
Among the many issues facing DC plans, Groom Law Group attorney Steve Saxon cites alternative and proprietary funds as possibly being on the menu for federal regulators. Though much of the DOL’s... Read More
BY Ray Harmon | 11/6/2013
A new report from the U.S. Government Accountability Office (GAO) recommends that the Labor and Treasury Departments collaborate on default electronic delivery rules for pension-related disclosures.... Read More
BY Fred Barstein | 10/28/2013
In a letter to the SEC, the lawmaker who helped create broker-check called for tightening of rules on expunging broker records and payment of arbitration awards. Sen. Edward Markey (D-MA) asked SEC... Read More
BY Fred Barstein | 10/15/2013
The DOL usually releases the annual 401(k) and other plan limits right about now, but this year delays are expected due to the government shutdown. Citing “credible sources,” 401kHelpcenter suggests... Read More
BY Fred Barstein | 9/23/2013
ERISA expert Fred Reish raises the question of who at the plan sponsor should be receiving disclosure documents. In a rush to get mass disclosure documents out last year, service providers may have... Read More
BY Fred Barstein | 9/11/2013
As IRA assets have grown larger than those in 401(k)s, it seems only natural that the same debates about fees, oversight and the roles of fiduciaries that have arisen for ERISA plans will emerge for... Read More
BY John Ortman | 9/11/2013
The IRS is focusing on top hat plans at nonprofit 501(c) organizations, a recent “compliance check” questionnaire from the agency’s Employee Plans Compliance Unit reveals. Plans include sending... Read More
BY Ray Harmon | 8/30/2013
In an IRS Revenue Ruling issued Aug. 29, Treasury Secretary Jacob Lew announced that as a result of the Supreme Court’s June 26 decision striking down Section 3 of the Defense of Marriage Act, the... Read More
BY John Ortman | 8/8/2013
Weighing in on the separate regulatory efforts underway at the SEC to establish a uniform fiduciary standard and at the DOL to redefine a fiduciary, 10 Senate Democrats urged the White House’s Office... Read More
BY Fred Barstein | 8/5/2013
The SEC and DOL recently signed a Memorandum of Understanding (MOU) designed to share information and coordinate efforts on matters of mutual interest. The MOU requires:• Regular meetings of DOL and... Read More
BY Fred Barstein | 7/26/2013
As NAPA’s 1st Annual DC Fly-in Forum approaches, many top DC Congressional leaders and policymakers have agreed to speak, with more expected. Currently the agenda for the September 17-18 meeting... Read More
BY Andrew Remo | 7/25/2013
On Tuesday, July 24, the Aspen Institute’s Initiative on Financial Security organized a briefing for congressional staff to discuss how reforming the tax code could affect the retirement security of... Read More
BY Fred Reish | 7/24/2013
The Office of Management and Budget has posted that it received a proposed regulation from the Department of Labor. Unfortunately, it is not the much-anticipated proposed regulation on fiduciary... Read More
BY Ronald J. Triche | 7/19/2013
During the 2013 ASPPA Mid-Atlantic Benefits Conference held in Philadelphia May 16-17, Marc I. Machiz, Director of the Philadelphia Region of the DOL’s Employee Benefits Security Administration,... Read More
BY Fred Barstein | 7/19/2013
As part of the deal struck by Senate Democrats with Senate Republicans to fast-track a handful of the president’s nominations, Thomas Perez was confirmed July 18 as the new Secretary of Labor. Perez... Read More
BY Fred Barstein | 7/17/2013
Time flies when you’re having fun (or perhaps when focused on other things) — the 2013 annual requirement for fee disclosure under 408(b)(2) and 404(a)(5) is fast approaching. The law firm of Howley... Read More
BY John Ortman | 7/16/2013
On July 9, the DOL issued an amendment to DOL Prohibited Transaction Exemption (PTE) 2007-5 (a.k.a. the underwriters exemptions) that replaces the current definition of "rating agency" with a... Read More
BY Fred Barstein | 7/11/2013
According to the DOL’s semiannual regulatory agenda indicating which rules the department plans to issue, the redefinition-of-fiduciary rule, which DOL’s Employee Benefits Security Administration... Read More
BY Fred Barstein | 7/11/2013
Is revenue sharing a plan asset? This issue and others were addressed in a July 3 DOL opinion letter (Advisory Opinion 2013-03A) addressed to the Groom Law Group concerning a plan administered by... Read More
BY Fred Barstein | 7/5/2013
When a former employee returns to the company, should that person be treated as a new employee and be forced to satisfy eligibility requirements? When should they be allowed into the plan? The answer... Read More
BY Fred Barstein | 7/3/2013
In the 12 months ending Oct. 1, 2012, more than 300 EBSA investigators in 10 regional offices closed 3,566 investigations, 72.1% of which resulted in a total of $1.27 billion in fines. About one-... Read More
BY John Ortman | 7/3/2013
Now that the U.S. Supreme Court has overturned Section 3 of the Defense of Marriage Act, same-gender married couples must be recognized by the federal government (at least those that were married in... Read More
BY John Ortman | 6/28/2013
The U.S. Department of Labor's Employee Benefits Security Administration has announced a one-month extension of the comment period on its advance notice of proposed rulemaking focusing on lifetime... Read More
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