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To the Moon After All? DOL Targets Cryptocurrency in Retirement Plans

In Compliance Assistance Release No. 2022-01 (the “Release”), the Department of Labor (the “Department”) signaled its intention to scrutinize inclusion of cryptocurrency assets and crypto-derivative products as investments in ERISA-covered retirement plans.  In particular, the Release articulates the Department’s view that offering exposure to this asset class – either in a plan’s investment lineup or […]

Recent Mental Health Parity Guidance — A Good Reminder to Review Your Health Plan for Compliance

The Mental Health Parity and Addiction Equity Act of 2008 (“MHPAEA”) generally requires that the financial requirements and treatment limitations that apply to mental health and substance use disorder (“MH/SUD”) benefits cannot be more restrictive than the financial requirements and treatment limitations that apply to medical and surgical (“M/S”) benefits.  Financial requirements include, for example, […]

Five Ways to Survive a Department of Labor (“DOL”) Health and Welfare Plan Investigation

DOL health and welfare plan investigations are on the rise. There are best practices for plans chosen for investigation:  1.  Get Employee Benefits Counsel Involved Early. The DOL investigation process generally starts with a letter from DOL requesting a long list of documents that range from plan documents and disclosures to financial documents (e.g., trust […]