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Regulatory Compliance

BY Ted Godbout | 10/6/2020
In an Oct. 1 comment letter to the Department of Labor, the American Retirement Association raised several concerns with the proposed Pooled Plan Provider registration requirements under... Read More
BY Nevin E. Adams, JD | 9/9/2020
The Labor Department has been probing ESG investment decisions, both by plan sponsors and those who counsel them—and now a recipient of those inquiries has stepped up to not only share those... Read More
BY Ted Godbout | 9/4/2020
The Department of Labor heard from an array of witnesses on its proposed fiduciary advice rulemaking package—ranging from calls to withdraw the proposal altogether, to making significant changes... Read More
BY Robert Richter | 9/2/2020
The laws are changing constantly—and plan documents have to be updated to keep up. Here’s how you can help your plan sponsor clients avoid trouble.  For IRS pre-approved plans (prototype and... Read More
BY Ted Godbout | 9/1/2020
The Department of Labor proposed a proxy voting rule Aug. 31 that says fiduciaries should “refrain from spending workers’ retirement savings to research and vote on matters that are not expected to... Read More
BY John Iekel | 8/27/2020
The deadline to take advantage of certain relief provided by the IRS to plan participants and plan sponsors in the wake of the COVID-19 pandemic is approaching quickly.     ... Read More
BY Nevin E. Adams, JD | 8/21/2020
As the effective date for Pooled Employer Plans (PEPs) nears, the Labor Department has published a proposal regarding how the Pooled Plan Providers (PPPs) that administer those programs will be... Read More
BY John Iekel | 8/19/2020
The Aug. 18 proposed rules spell out procedures for rolling over qualified plan loan offset amounts under the Tax Cuts and Jobs Act (TCJA). The rules set forth regulations relating to... Read More
BY Ted Godbout | 8/18/2020
The Securities and Exchange Commission has posted several new Frequently Asked Questions addressing various scenarios concerning the use of the terms “adviser” and “advisor” by dually registered and... Read More
BY Ted Godbout | 8/17/2020
Considering that many firms have modified their normal operating procedures and moved to a company-wide telework environment, the Securities and Exchange Commission is urging firms to take extra... Read More
BY Nevin E. Adams, JD | 8/17/2020
It seems that the Labor Department is doubling down on its ESG information request campaign, now looking to the practices behind investments in, and monitoring of, ESG-themed ERISA plan investments... Read More
BY Ted Godbout | 8/13/2020
A recent IRS Private Letter Ruling finds that an amendment allowing employees to choose how much of an employer contribution to allocate between a profit-sharing plan and Health Reimbursement... Read More
BY Ted Godbout | 8/12/2020
As both a senator and a presidential candidate, Sen. Kamala Harris (D-CA) has embraced a number of positions on key retirement issues that could be campaign issues.  As the second African... Read More
BY Ted Godbout | 8/10/2020
If you thought the battles over fiduciary rulemaking were over, think again. Top Democrats from the House and Senate committees that oversee ERISA-based issues are calling on the Department of Labor... Read More
BY Ted Godbout | 8/7/2020
The Labor Department’s new fiduciary proposal gets it right on rollovers, but needs clarity on its application to PEPs and could stand a rethink on at least one of the elements of the five-part test... Read More
BY Ted Godbout | 8/6/2020
The Securities and Exchange Commission moved forward August 5 with proposing modifications to the mutual fund and exchange-traded fund (ETF) disclosure framework. The Commission is also... Read More
BY Ted Godbout | 8/5/2020
The Department of Labor’s proposed rule addressing environmental, social and governance (ESG) factors in selecting plan investments received more than 1,500 comment letters during the 30-day comment... Read More
BY Nevin E. Adams, JD | 8/4/2020
We’ve only just passed the effective date for the new e-delivery rules—but the campaign to undermine their impact is already underway. Coincident with the official effective date of the new rules... Read More
BY Ted Godbout | 7/27/2020
The American Retirement Association is urging the Department of Labor to provide a level playing field, as it considers potential new prohibited transaction exemptions (PTEs) in relation to Pooled... Read More
BY NAPA Net Staff | 7/22/2020
Pushback on the Labor Department’s ESG proposal continues—this time in a letter from about 40 Democrats in the House of Representatives. The July 20 letter to Secretary of Labor Eugene... Read More
BY Ted Godbout | 7/22/2020
Addressing the 2020 NAPA D.C. Fly-In Forum July 21, a key Department of Labor official confirmed that the DOL’s deadline relief provided in response to the Coronavirus pandemic also applies to... Read More
BY Ted Godbout | 7/16/2020
A group of Senate Democrats is calling on the Labor Department to withdraw its proposal clarifying the investment duties of ERISA plan fiduciaries in relation to environmental, social and governance... Read More
BY Ted Godbout | 7/15/2020
Noting that the Department of Labor previously held several days of hearings under the former fiduciary rule, the ranking Democrat on the Senate committee with primary jurisdiction over ERISA-related... Read More
BY NAPA Net Staff | 7/6/2020
Claiming that the 30-day comment period is “less than half of what similar proposals were granted in the past,” Democratic congressional leaders want more time to comment on the fiduciary rule.... Read More
BY John Iekel | 6/29/2020
As plans contemplate changes to safe harbor plans in the midst of the COVID-19 pandemic, the IRS has provided some guidance and relief for certain plans.  As plans contemplate changes to safe... Read More