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DOL

Industry & Regulatory News

DOL Weighs in on Forfeiture Case

The Department of Labor (DOL) filed an amicus (friend of the court) brief in a case (Hutchins v. HP Inc.) that claimed the employer breached its fiduciary duty to the plan by electing to use forfeitures to fund mandatory employer contributions rather than offset administrative expenses borne by participants. 

July 14 2025

Industry & Regulatory News

DOL Launches Opinion Letter Program

The Department of Labor (DOL) has announced the launch of its opinion letter program.

June 04 2025

Industry & Regulatory News

DOL Notice on Information Collection Activities Has Left OMB

A notice of availability and request for comments on DOL information collection activities has left the Office of Management and Budget.

May 28 2025

Industry & Regulatory News

DOL Requests Comments on Alternative Reporting and Disclosure Methods for ‘Top Hat’ Plans

The Department of Labor (DOL) provides an alternative method of compliance with the rules for reporting and disclosing information under Title I of ERISA for special retirement plans set up for a select group of highly compensated employees (e.g., top hat plans).

May 28 2025

Industry & Regulatory News

DOL Rescinds 2022 Guidance on Cryptocurrency in 401(k) Plans

The Secretary of Labor, Lori Chavez-DeRemer has announced that the Department of Labor (DOL) has rescinded a 2022 compliance release that discouraged fiduciaries from including cryptocurrency options in 401(k) retirement plans.

May 28 2025

Industry & Regulatory News

Proposal to Roll Back ESG Investing Introduced in House

Representative Rick Allen (R-GA) has introduced H.R. 2988, the Protecting Prudent Investment of Retirement Savings Act. According to a press release, the bill seeks to codify that those who manage other people’s retirement savings under ERISA must prioritize maximizing returns for a secure retirement rather than political or social impact using environmental, social, and governance (ESG) factors.

April 28 2025

Industry & Regulatory News

DOL Provides Guidance for Defined Benefit Annual Funding Notices

The Department of Labor has issued Field Assistance Bulletin (FAB) 2025-02 and accompanying single employer and multiemployer model notices updating notice requirements for defined benefit plans pursuant to Section 343 of SECURE 2.0. FAB 2025-02 uses a Q&A format to explain the methods that single employer defined benefit pension plans use to measure the value of assets, value of liabilities, and funding level.

April 04 2025

Industry & Regulatory News

Lori Chavez-DeRemer Confirmed as Secretary of Labor

The Senate on Monday confirmed former Representative Lori Chavez-DeRemer to lead the Department of Labor (DOL) by a vote of 67-32. Chavez-DeRemer will be responsible for overseeing the DOL and fulfilling the Trump administration’s agenda. She represented Oregon’s 5th district in the House of Representatives in the 118th Congress, developing a pro-labor record on worker’s rights and organized labor.

March 11 2025

Industry & Regulatory News

Washington Pulse: DOL Issues Final Amendments to the VFCP

The Department of Labor (DOL) recently issued a final amendment to the Voluntary Fiduciary Correction Program (VFCP), incorporating a Self-Correction Component (SCC) for eligible transactions under the program.

March 03 2025

Industry & Regulatory News

ESOP Proposed Rule on Hold

A proposed rule and class exemption issued by the Department of Labor’s Employee Benefits Security Administration providing guidance on ESOP transactions pursuant to SECURE 2.0 has been withdrawn from publication in the Federal Register pending further review pursuant to executive order. The proposal was aimed at implementing acceptable standards and procedures to establish good faith fair market value for shares to be acquired by an ESOP pursuant to SECURE 2.0. According to the order, the proposal will be reviewed by the agency in light of the change in administration.

January 21 2025
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