On June 14, 2021, the U.S. Department of Labor (the “DOL”) published Information Letter 06-14-2021. This guidance addresses the question of whether ERISA’s claims and appeals provisions “require the responsible plan fiduciary to provide, upon a claimant’s request, a copy of an audio recording and transcript of a telephone conversation between the claimant and a […]

Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. A sample of recent cases is provided below. The most common type of ERISA case for approximately the past fifteen years has involved retirement plan participants’ allegations that plan fiduciaries caused participants to pay excessive recordkeeping and investment […]

Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. A sample of recent cases is provided below. The most common type of ERISA case for approximately the past fifteen years has involved retirement plan participants’ allegations that plan fiduciaries caused participants to pay excessive recordkeeping and investment […]

On May 24, 2021, the IRS updated its Operational Compliance List (the “List”). The IRS publishes the List to help plan sponsors and practitioners “achieve operational compliance by identifying changes in qualification requirements and Internal Revenue Code (IRC) Section 403(b) requirements effective during a calendar year.” The List does not include periodic changes that routinely […]

On April 14, 2021, the Department of Labor (“DOL”) issued guidance that has been eagerly anticipated by employers, their plans’ advisors, and other plan service providers. Part of the guidance addresses cybersecurity practices and procedures specifically for defined contribution plans (e.g., 401(k) and 403(b) plans), but its principles should apply to all ERISA plans. As background, […]

Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. A sample of recent cases is provided below. The most common type of ERISA case for approximately the past fifteen years has involved retirement plan participants’ allegations that plan fiduciaries caused participants to pay excessive recordkeeping and investment […]

On March 29, 2021, the IRS published Notice 2021-21 (the “Notice”) as a result of the COVID-19 pandemic. The Notice extends certain deadlines for “Affected Taxpayers.” That term is mainly defined as someone in either of the following categories: (1) any person with a federal income tax return filed via the Form 1040 series that, […]

Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. A sample of recent cases is provided below. The most common type of ERISA case for approximately the past fifteen years has involved retirement plan participants’ allegations that plan fiduciaries caused participants to pay excessive recordkeeping and investment […]

On February 12, 2021, the DOL published a News Release (the “Release”). The Release confirmed that a prohibited transaction exemption for plan fiduciaries who provide investment advice to ERISA plans would become effective as scheduled on February 16, 2021. That exemption was issued during the Trump administration. Many in the employee benefits community thought that […]

Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. A sample of recent cases is provided below. The most common type of ERISA case for approximately the past fifteen years has involved retirement plan participants’ allegations that plan fiduciaries caused participants to pay excessive recordkeeping and investment […]