Seyfarth Synopsis: On the heels of the Department of Labor’s June proposed regulation throwing cold water on plan fiduciaries’ selecting investments in the environment, social and governance (ESG) space, the agency has now offered their viewpoint on a fiduciary’s obligation — nay, ability — to vote proxies for its plan’s holdings. See here for our

Seyfarth Synopsis: On Tuesday, August 18, 2020, the Department of Labor’s Employee Benefits Security Administration (EBSA) released an interim final rule related to a new disclosure that will need to be provided as a part of defined contribution plan benefit statements. The new disclosure will show the participant’s plan benefit as a monthly amount calculated

Seyfarth Synopsis: A key component of the SECURE Act, passed at the end of 2019, was the expansion of opportunities to combine the 401(k) plan assets of multiple unrelated employers. The SECURE Act relaxed the rules on multiple employer plan’s (“MEP”) and created a new vehicle, the pooled employer plan (“PEP”) to allow employers to

Seyfarth Synopsis: The recently enacted SECURE Act defers the latest commencement of payment of our retirement benefits from age 70½ to age 72. Why now, why was it ever set to a half-birthday convention, and which half of the population benefits more from this change? Oh, and how is the required minimum distribution (“RMD”) rule

By Richard G. Schwartz and Nicholas J. Waddles

Seyfarth Synopsis: The SECURE Act—just signed into law late last week—includes probably the most comprehensive revisions to the law governing employer-sponsored retirement plans since the Pension Protection Act of 2006. Many of the provisions will not be effective until after 2020, but some provisions go into effect