Few areas of retirement plan regulation have experienced as much turbulence – or generated as much practical uncertainty for plan sponsors, recordkeepers, and third-party administrators – as the Employee Retirement Income Security Act’s (“ERISA”) definition of an “investment advice fiduciary.” After more than a decade of competing regulatory proposals, litigation victories and defeats, and
As described in earlier Thompson Hine blog posts (here and here), Trump accounts provide a new private savings vehicle for eligible minor children. The Treasury Department and IRS recently released additional guidance related to these accounts within two coordinated notices of proposed rulemaking that address the critical threshold questions of (1) how Trump
Thanks to SECURE 2.0, paper is back, requiring increased use of the traditional mail system through the United States Postal Service (“USPS”). A recently proposed rule (“Proposed Rule”) from the Department of Labor (“DOL”) “narrowly implements” SECURE 2.0’s mandate requiring retirement plans to furnish paper pension benefit statements, effective