DOL Flips Script with ESG Proposal
The Department of Labor (DOL) has issued a proposed rule, “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.”
Form 5500 Changes Proposed
In September 2021, the DOL, IRS, and Pension Benefit Guaranty Corporation (PBGC), collectively referred to as the “Agencies”, released proposed changes to Form 5500, Annual Return/Report of Employee Benefit Plan.
DOL Releases Proposed Revisions to Form 5500 Reporting
The DOL’s EBSA, in conjunction with the IRS and PBGC, have released proposed forms revisions modifying requirements for Form 5500, Annual Return/Report of Employee Benefit Plan, reporting.
Gomez Nominated for EBSA Post
President Biden has nominated Lisa M. Gomez for Assistant Secretary of Labor for the Employee Benefits Security Administration (EBSA).
Women’s Retirement Protection Act Re-Introduced
Senator Patty Murray (D-WA) and Representative Lauren Underwood (D-IL) have introduced the Women’s Retirement Protection Act of 2021 in their respective chambers.
DOL Provides FAQs for Lifetime Income Illustrations
The DOL has provided FAQs addressing questions about the timing of implementation of pension benefit statement lifetime income illustrations under the SECURE Act.
Executive Order Includes Review of ESG Factors
Last week, President Biden issued an Executive Order on Climate-Related Financial Risk.
Retirement Security and Savings Act Re-Introduced
Senators Rob Portman (R-OH), and Ben Cardin (D-MD), have introduced the Retirement Security and Savings Act of 2021, legislation that was last introduced in 2019.
DOL Withdraws Independent Contractor Rule
The Department of Labor (DOL) Wage and Hour Division is withdrawing the independent contractor rule that was scheduled to take effect on May 7, 2021.
Securing a Strong Retirement Act Re-Introduced
House Ways and Means Committee Chairman Richard Neal (D-MA) and Ranking Member Kevin Brady (R-TX) have introduced the Securing a Strong Retirement Act of 2021.
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