Browsing Tag
ERISA
296 posts
ERISA (Employee Retirement Income Security Act) is a 1974 U.S. federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry. It aims to protect plan participants by requiring plans to provide information, establish fiduciary responsibilities, and give participants the right to sue for benefits and breaches of duty. ERISA also guarantees payment of certain benefits through the Pension Benefit Guaranty Corporation if a defined plan is terminated.
DOL Takes Strong ERISA 401(k), ESG Fiduciary Stance
It might be harder to “invest in your values” if a proposed rule form the Department of Labor…
DOL to Seek Comments on PEP and Open MEP Prohibited Transactions
Want to let the DOL know what you think of Open MEPs and PEPs under the SECURE Act?…
DOL Allowing Private Equity in 401ks Draws Mixed Reaction
The Department of Labor’s June 3 Information Letter that opens the door for 401ks to include private equity…
Once and For All: IRC and ERISA Say Cannabis 401(k) Plans Can Exist
I write to clarify and educate about the legal authority regarding how and why cannabis 401(k) plans are…
Schlichter Wins Again, University to Pay $16.75 Million
Famed fiduciary tort lawyer Jerry Schlichter has done it again—winning settlement concessions from Emory University. His firm, Schlichter…
Supreme Court Limits Fiduciary Breach Lawsuits
The U. S. Supreme Court ruled 5-4 Monday that workers can’t accuse pension plan administrators of mismanaging their…
7 Essential 401(k) Fiduciary Hacks
We’ve always recommended that retirement professionals follow the letter of the law. But, in the case of new…
6 Key COVID-19 Considerations for DC Plan Fiduciaries
ERISA fiduciary COVID-19 process steps include reviewing investments, fraud safeguards, and participant education for compliance.
Which 401(k) Plans Get Sued and Why?
It used to be reserved for major 401(k) plans with deep pockets, but fiduciary lawsuits against plan sponsors…
7 Sensible Cybersecurity Steps for 401(k) Plan Sponsors
Cybersecurity breaches of retirement plan participant accounts have occurred with increasing frequency in recent years. Just this past…