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 … Continue reading

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An Interesting Intersection: No Surprises Act Claims and the New Fee Disclosure Requirements for Group Health Plans

As reported in our January 7, 2022 SW Benefits Blog “The DOL Asks and Answers Questions About the New Welfare Plan Fee Disclosure Rules,” group health plans must now comply with the ERISA Section 408(b)(2) disclosure requirements.  The CAA amended … Continue reading

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The DOL Asks and Answers Questions About the New Welfare Plan Fee Disclosure Rules

In Field Assistance Bulletin 2021-03 (12/31/21) (FAB), the Department of Labor (DOL) issued guidance and temporary enforcement policy to address the new 408(b)(2) disclosure requirements that apply to certain service providers to group health plans.  The Consolidated Appropriations Act of … Continue reading

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With a New Administration, Will the Department of Labor’s Fiduciary Rule Once Again be Revised?

The Department of Labor’s (the “DOL”) attempts to regulate the conduct of fiduciaries under ERISA and the Code has been mired in controversy.  In 2010, the Obama administration’s DOL proposed a fiduciary regulation that was met with so much criticism … Continue reading

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Final DOL Rule Imposes Fiduciary Limitations on Social Investing

The DOL recently issued a final rule (“Rule”) providing guidance on the long-standing issue of whether ERISA fiduciaries are permitted to consider non-pecuniary factors while making investments (or selecting investment funds) that promote one or more environmental, social or corporate … Continue reading

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Department of Labor Issues Final Electronic Disclosure Rule

On May 21, 2020, the Department of Labor (the “DOL”) announced a final rule establishing a new electronic disclosure safe harbor.  The new safe harbor permits retirement plan administrators to deliver certain plan documents by one of two methods: (1) … Continue reading

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Potential $2.4 Billion and Countless Trees Saved – Department of Labor’s Proposed Rule on Electronic Disclosure for Retirement Plans

The Department of Labor recently issued a proposed rule that allows certain retirement plan disclosures to be posted online, rather than requiring such disclosures to be printed and mailed. The Department of Labor anticipates this rule, if finalized, would save … Continue reading

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DOL Finalizes Regulations Requiring Electronic Filing of Top Hat Statements

On June 17th the Department of Labor finalized a set of proposed regulations requiring that all “top hat” plan statements be filed with the Department electronically though this website.  As brief background, a “top hat” statement is a one-time filing … Continue reading

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Authorized Representatives – Fresh Look at an Old Rule

Earlier this year, the Department of Labor issued an information letter explaining ERISA’s authorized representative requirement.  Below are some of the takeaways employers may want to consider. 1.     The Authorized Representative Requirement Under ERISA ERISA’s claims procedure regulations expressly give … Continue reading

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New Disability Claims Regulations Take Effect for All Plans April 1, 2018

As noted in our previous blog post, The New Disability Claims Regulations: They Don’t Only Apply to Disability Plans, the Department of Labor (“DOL”) issued regulations that revise the ERISA claims procedure regulations for all employee benefit plans that provide … Continue reading

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