On October 31, the U.S. Department of Labor (DOL) issued the proposed Retirement Security Rule (Proposed Rule), which would amend the existing rule that defines when a person is an investment advice fiduciary under the Employee Retirement Income Security Act of 1974, as amended (ERISA), and the Internal Revenue Code of 1986, as amended (Code).
DOL Greenlights Citibank’s Diverse Asset Manager Program
On September 29, 2023, the Department of Labor (DOL) issues Advisory Opinion 2023-01A (Opinion) approving Citibank’s Diverse Asset Manager Program (Program) as it relates to plans subject to the Employee Retirement Income Security Act of 1974 (ERISA). The Opinion provides a road map primarily for pension and 401(k) plan sponsors who wish to increase the
Back in Style: The Supreme Court’s Renewed Interest in ERISA
There always seem to be enough open important questions to keep ERISA practitioners operating in some uncertainty. When new legislation or regulatory guidance is not forthcoming, ERISA practitioners only have the Supreme Court and the lower federal courts to look to for assistance. Although the Supreme Court usually takes either zero or one ERISA cases
Crime Doesn’t Pay…Or Does It?
It sounds like something you might see on Dateline. A happy couple with a white picket fence in the suburbs. And then … the unthinkable happens …. one spouse murders the other. The last thing on anyone’s mind is what happens to the retirement plan assets….unless you are a plan administrator.
A principal purpose of