Publications

Final Rule on E-Disclosures: The DOL Provides Retirement Plans with an Additional Safe Harbor for Electronic Disclosure of Required Plan Notices Under ERISA

YATINDRA PANDYA, July 9, 2020   Background On May 27, 2020, the Department of Labor (DOL) published its final rule on electronic disclosures, creating an additional voluntary fiduciary safe harbor for electronically providing participant disclosures required under the Employee Retirement Income Security Act of 1974, as amended (ERISA). The effective date of this final rule […]

IRS Allows for Temporary Flexibility with Long-Awaited Guidance that Expands Mid-Year Election Change Opportunities for Cafeteria Plans

GISUE MEHDI and BRIANA B. DESCH, July 9, 2020   In response to the COVID-19 pandemic, the U.S. Department of Treasury and the Internal Revenue Service (IRS) issued Notice 2020-29 and Notice 2020-33 (the “Notices”) on May 12, 2020. Notice 2020-29 provides increased flexibility for participants to make mid-year health plan, health flexible spending account […]

DOL Proposes to Formally Regulate ESG Investing

ROBERT R. GOWER, July 9, 2020   On June 30, 2020, the United States Department of Labor (DOL) published a Proposed Rule in the Federal Register seeking to formalize guidance concerning environmental, social, and governance (ESG) considerations in selecting investments for plans subject to the Employee Retirement Income Security Act of 1974 (ERISA). Background ESG […]

The Supreme Court Limits Standing to Sue in Cases Involving Defined Benefit Plans

JOSEPH C. FAUCHER and BRIAN D. MURRAY, June 8, 2020   On June 1, 2020, the U.S. Supreme Court issued its decision in Thole v. U.S. Bank, N.A., 2020 WL 2814294 (2020). The majority opinion — written by Justice Kavanaugh — is likely to have a significant impact on ERISA litigation involving defined benefit plans. […]

IRS Issues Coronavirus-Related FAQs for Retirement Plans and IRAs

ADRINE ADJEMIAN and ROBERT R. GOWER, June 8, 2020    On May 4, 2020, the Internal Revenue Service (IRS) issued a limited set of FAQs providing administrative guidance addressing the special “coronavirus-related distribution” (CRD) and plan loan provisions under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). As anticipated, the guidance draws […]

DOL Announces Publication of Final E-Disclosure Rule

FREEMAN L. LEVINRAD and NICHOLAS J. WHITE, May 26, 2020    On May 21, 2020, the Department of Labor (DOL) announced its final rule on electronic disclosures, which is scheduled to be published on May 27th. The final rule allows employers to deliver participant disclosures primarily electronically. The DOL anticipates this will reduce plan costs by […]