DOL

Industry & Regulatory News

Washington Pulse: DOL Releases Final Investment Advice Fiduciary Rule

The Department of Labor (DOL) recently released a regulatory package that includes a final amendment (the Retirement Security Rule) to the regulations that define what constitutes an investment advice fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) Title I and Title II (codified in the Internal Revenue Code).

May 22 2024

Industry & Regulatory News

ERISA Insights: DOL Releases Interim Final Rule for Abandoned Plans

The Department of Labor (DOL) has issued a regulatory package that includes an interim final rule that amends the regulations for abandoned plans that were initially created in 2006.

May 16 2024

Industry & Regulatory News

Resolution Disapproving DOL Fiduciary Rule Announced

Senators Ted Budd (R-NC), Bill Cassidy (R-NC), Roger Marshall (R-KS), and Joe Manchin (D-WV) have announced they are introducing a resolution of congressional disapproval of the Department of Labor’s “Retirement Security Rule.”

May 15 2024

Industry & Regulatory News

Retirement Spotlight: IRS and DOL Release Guidance for PLESA Provisions

In January 2024, the Internal Revenue Service (IRS) released Notice 2024-22, providing guidance with respect to anti-abuse rules for Pension-Linked Emergency Savings Accounts (PLESAs), a new provision created by the SECURE 2.0 Act of 2022 (SECURE 2.0).

May 06 2024

Industry & Regulatory News

ERISA Insights: DOL Releases Final Fiduciary Rule for Investment Advisers

The Department of Labor (DOL) has released a final rule updating the definition of an investment advice fiduciary under ERISA.

April 23 2024

Industry & Regulatory News

DOL Releases Proposed Retirement Savings Lost and Found Information Collection

The Department of Labor (DOL) is proposing to collect information in order to establish the Retirement Savings Lost and Found online searchable database described in Section 523 of ERISA as amended by Section 303 of SECURE 2.0.

April 15 2024

Industry & Regulatory News

Agencies Extend Comment Deadline on Reporting and Disclosure RFI Under SECURE 2.0

The Department of Treasury, the Department of Labor, and the Pension Benefit Guaranty Corporation have extended the deadline for comments related to a Request for Information (RFI) released in January pursuant to Section 319 of SECURE 2.0.

April 03 2024

Industry & Regulatory News

DOL Releases Final Rule on QPAM Exemptions

The Department of Labor has issued a final rule “Amendment to Prohibited Transaction Class Exemption 84-14 (PTE 84-14) for Transactions Determined by Independent Qualified Professional Asset Managers (the QPAM Exemption)”.

April 03 2024

Industry & Regulatory News

Washington Pulse: DOL Releases Final Rule Clarifying Employee or Independent Contractor Status

The Department of Labor (DOL) issued a final rule to assist employers when determining whether a worker is considered an employee or an independent contractor under the Fair Labor Standards Act (FLSA).

March 25 2024

Industry & Regulatory News

Washington Pulse: DOL Releases Proposed Regulations for Automatic Portability Transactions

The Department of Labor (DOL) has released proposed regulations related to the implementation of section 120 of the SECURE 2.0 Act (SECURE 2.0).

March 25 2024