The Department of Labor’s (DOL) Employee Benefits Security Administration has confirmed that the Trump administration’s “Improving Investment Advice for Workers & Retirees” Prohibited... Read More
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Regulatory Compliance
BY Reish/Ashton/Pennartz | 2/3/2021
(How) could the E-Delivery Rule open the door to cyber security/participant data suits?
The Department of Labor (DOL) has simplified the delivery of retirement plan information to participants... Read More
BY Nevin E. Adams, JD | 1/19/2021
Recent DOL guidance on missing participants seems to fall short of what plan fiduciaries want/need—but may offer fiduciaries some key insights to avoid future problems.
On Jan. 12, 2021, the... Read More
BY NAPA Net Staff | 1/13/2021
The U.S. Department of Labor’s Employee Benefits Security Administration has provided some guidance related to locating and distributing benefits to “missing or nonresponsive participants.”... Read More
BY Ted Godbout | 1/11/2021
Employers which offer holistic wellness benefits that also address health goals should take note of new proposed rules by the Equal Employment Opportunity Commission.
Following an... Read More
BY Ted Godbout | 1/7/2021
Sometimes it’s best not to pick a fight with Congress, because the lawmakers will likely have the final say. Such is the case with respect to the deductibility of eligible expenses under the Paycheck... Read More
BY Ted Godbout | 1/1/2021
Newly finalized guidance by the Department of Labor could be in jeopardy when President-elect Joe Biden is sworn into office on Jan. 20.
Jen Psaki, spokesperson for the Biden transition team... Read More
BY Ted Godbout | 12/29/2020
Following an initial transition period, the Securities and Exchange Commission plans to increase its examination efforts to determine whether firms are complying with its Regulation Best Interest.... Read More
BY Ted Godbout | 12/23/2020
Noting that its guidance on the issue has not been updated in more than 40 years, the SEC voted unanimously on Dec. 22 to modernize rules governing investment adviser advertisements and solicitor... Read More
BY NAPA Net Staff | 12/23/2020
In response to the continuing public health emergency caused by the COVID-19 pandemic, the Internal Revenue Service has extended remote notarization relief issued in June.
Specifically, Notice... Read More
BY Ted Godbout | 12/18/2020
The Department of Labor’s newly finalized prohibited transaction exemption for offering investment advice was published in the Federal Register Dec. 18, yet questions remain about whether it will... Read More
BY Nevin E. Adams, JD | 12/16/2020
The Department of Labor has rolled out a new prohibited transaction exemption for offering investment advice, and some good news on rollover advice—but it may be short-lived.
Less than 24 hours... Read More
BY Ted Godbout & Nevin E. Adams, JD | 12/14/2020
Once again, the Department of Labor has taken comments on a controversial proposal to heart, and pulled back on the letter, if not the impetus, in its final rule of plan proxy voting.
As had been... Read More
BY John Iekel | 12/10/2020
The IRS issued guidance on Dec. 9 that addresses certain provisions of the SECURE Act that increase the automatic enrollment cap percentage and affect safe harbor plans, including safe harbor 401(k)... Read More
BY Ted Godbout | 12/9/2020
The Internal Revenue Service released final regulations Dec. 7 relating to amendments made by the Tax Cuts and Jobs Act (TCJA) providing an extended rollover period for a qualified plan loan offset (... Read More
BY Ted Godbout | 11/20/2020
For those interested in getting a head start in registering as a pooled plan provider, the Department of Labor has released an informational version of the form and instructions.
Unveiled by... Read More
BY Ted Godbout | 11/20/2020
For plan advisors and small businesses that may have taken advantage of forgivable loans under the Paycheck Protection Program (PPP), in new guidance the IRS digs in on its position regarding the... Read More
BY John Iekel | 11/20/2020
The IRS has issued the 2020 list of required amendments (RA) for individually designed plans qualified under Code Sections 401(a) and 403(b). The list is contained in Notice 2020-83, issued on Nov.... Read More
BY Ted Godbout | 11/13/2020
The Department of Labor’s final rule preventing plan fiduciaries from selecting investments based on non-pecuniary considerations and requiring them to base investment decisions on financial factors... Read More
BY Ted Godbout | 11/12/2020
Pooled plan providers (PPPs) are now one step closer to being able to offer pooled employer plans (PEPs) under guidance released Nov. 12 by the Department of Labor.
The final rule ... Read More
BY John Iekel | 11/11/2020
The IRS on Nov. 6 issued final regulations that update the life expectancy and distribution period tables used for purposes of determining required minimum distributions (RMDs).
These... Read More
BY Ted Godbout | 11/4/2020
While the number of cases the Securities and Exchange Commission filed was down from last year, the financial remedies ordered set a new high, according to the Commission’s annual enforcement report... Read More
BY Nevin E. Adams, JD | 10/30/2020
The final rule on ESG investing by ERISA plans steps away from the proposed rule’s focus on ESG.
Indeed, the Labor Department notes that “unlike the proposal, the final rule’s operative text... Read More
BY Ted Godbout | 10/29/2020
Total monetary recoveries by the Labor Department’s Employee Benefits Security Administration’s enforcement and oversight activity in fiscal year 2020 apparently hit a record.
According to... Read More
BY John Iekel | 10/26/2020
Following a year full of extraordinary change, there will be little of that for contribtion and benefit limits in 2021.
The IRS has announced cost-of-living adjustments affecting dollar... Read More
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