By Kim Shaw Elliott The Department of Labor (“DOL”) issued final regulations on December 11, 2020 about fiduciary duties for proxy voting, in its attempt to clarify many prior misunderstandings. Key among the DOL’s guidance in this final rule is its express statement that fiduciaries need not vote on every proxy proposal and its pronouncement that decisions to vote proxies must be limited to ...
By Dannae Delano, Barry Salkin and Roberta Casper Watson
By Barry Salkin and Mark Poerio
By Susan Rees and Seth Gaudreau
On November 16, 2020, the U.S. Department of Labor (DOL) issued a final rule at 85 Federal Register 72934, providing an electronic filing procedure for interested entities to meet the requirements for registering as a “pooled plan provider” for “pooled employer plans” under the Employee Retirement Income Security Act of 1974 (ERISA), as amended by the Setting Every Community Up for Retirement ...
Employee benefits law often involves interaction between Congress, the Executive Branch, and the courts. That calls for an understanding of the politics of law reform and regulation. A recent presidential document illustrates the point.
The Internal Revenue Service announced cost-of-living adjustments affecting certain dollar limitations for pension plans and other retirement-related limitations for 2021 in Notice 2020-79.
Another court has decided which ERISA plan fiduciaries can be held liable in connection with a data breach of a plan participant’s account. On October 2, 2020, the Northern District of Illinois, in Bartnett v. Abbott Laboratories, et al., ruled that Alight Solutions, the TPA of the Abbott Corporate Benefits Stock Retirement Plan (the “Plan”), could be held liable for both an ERISA fiduciary ...
By Stephen Wilkes and Livia Quan Aber