On Tuesday, October 13, 2020, 9:00 am to 5:00 pm ET, Seyfarth attorneys Howard Pianko and Linda J. Haynes will participate in the Practicing Law Institute’s Pension Plan Investments 2020: Current Perspectives program. Howard is a co-Chair for the program and Linda will present as part of the “Plan Governance Issues” panel. In this program,
The Department of Labor Puts Limits on “Guidance” — And Employers and Fiduciaries May Get More Interpretative Flexibility
By: Mark Casciari and Joy Sellstrom
Synopsis: On August 28, 2020, the federal Department of Labor (DOL) issued a final rule entitled “Promoting Regulatory Openness Through Good Guidance” (the “PRO Rule”) that establishes a data base with far fewer “Guidance” documents, thus placing a greater focus on statutory and regulatory interpretation.
Effective September 28, 2020,
How to Minimize Judicial Review of ERISA Fiduciary Decisions
By: Mark Casciari and Ronald Kramer
Seyfarth Synopsis: The courts have stated that their review of fiduciary decisions is both exacting and deferential. A recent decision from the Court of Appeals for the Seventh Circuit offers help to ERISA benefit professionals who prefer to maximize judicial deference in favor of the fiduciaries.
One of the
Can You Invest Your Retirement Plan to Save the Planet?
Seyfarth Synopsis: On June 23, 2020, the Department of Labor (“DOL”) issued a proposed regulation amending the fiduciary regulations governing investment duties under the Employee Retirement Investment Security Act of 1974 (“ERISA”). This proposed regulation provides guidance for an ERISA fiduciary considering an investment or investment strategy based on “non-pecuniary” factors such as environmental, social
Supreme Court’s Sulyma Ruling Toughens ERISA’s “Actual Knowledge” Standard & Makes Dismissal of Fiduciary Breach Actions More Unlikely
By Namrata Kotwani and Ian H. Morrison
Seyfarth Synopsis: On February 26, 2020, the Supreme Court unanimously affirmed the Ninth Circuit’s ruling in Intel Corp. Investment Policy Committee, et al. v. Sulyma. 589 U.S. ___ (2020), holding that plan participants must read plan disclosures to have the “actual knowledge” required to trigger ERISA’s shorter 3-year