ERISA & Employee Benefits

Further Thoughts on the DOL’s Informal Guidance on Cybersecurity

by Jon Schultze, Susan Rees and Barry Salkin

Department of Labor Issues Proposed Changes to Investment Duties Rule Under ERISA

by Ivelisse Berio LeBeau

The DOL’s New Cybersecurity Audits and Informal Guidance

by Jon Schultze, Susan Rees and Barry Salkin

Cybersecurity Guidance Welcome, but Unanswered Questions Remain

By Stephen Wilkes and Barry Salkin

Department of Labor Issues Cybersecurity Guidance

By Barry Salkin

Do You Have Questions About How to Comply with the New DOL fiduciary “Investment Advice” Prohibited Transaction Exemption?

By Stephen Wilkes and Susan Rees

Does the Recently Amended Investment Duties Regulation Change How Fiduciaries Are Expected to Make Investment Decisions for Employee Benefit Plans?

Introduction

DOL’s Proxy Voting Regs Confirm Fiduciaries Need Not Vote on Every Proxy Proposal but Must Limit Voting Decisions to Economic Interests

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 ...

IRS New Guidance on State Unclaimed Property Laws and IRS Helpful Reminders on Missing Participants

By Susan Rees and Seth Gaudreau

Court Says Third Party Administrator May Be Held Liable for ERISA Fiduciary Breach and Consumer Fraud in Connection With Abbott Plan Data Breach

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 ...