ERISA & Employee Benefits

Participant Directed Investments Through Brokerage Windows: The Last Frontier or a Trap for the Unwary?

By Ivelisse Berio LeBeau and Stephen Wilkes

IRS Announces Cost-of-Living Adjustments Affecting Retirement Plans

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.

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 ...

The Wagner Law Group Asks DOL for Cybersecurity Guidance

By Stephen Wilkes and Livia Quan Aber

The Wagner Law Group Receives IRS Approval of its Defined Contribution Plan

The Wagner Law Group is pleased to announce that we have received IRS approval of our non-standardized defined contribution plan document, further bolstering our firm’s position at the forefront of the qualified retirement plan document and compliance realm. 

DOL Issues Proposed Regulations Regarding Electronic Disclosure of Pension Plan Information

In 2002, the DOL issued a safe harbor for electronic disclosure that is available only to those participants that have electronic media at work, and those individuals who affirmatively opt in to electronic documentation. There have been calls from many quarters for the DOL to update those regulations to reflect the advances in technology since the 2002 regulations, including an August 2018 ...

Multiple Employer Pension Plan Update

On October 22, 2018, the DOL issued a proposed regulation in response to the August 31, 2018, Executive Order by President Trump to remove regulatory burdens faced by defined contribution multiple employer pension plans ("MEPs"). On July 31, 2019, final DOL regulations on the definition of "Employer" were published in the Federal Register. While there are several possible types of MEPs, the DOL ...