Resource Tag: Regulation
Proposed Rule on Conflicts of Interest in Investment Advice (November 2015)
The Pension Rights Center submitted comments to the Department of Labor (DOL) and testified at a hearing in support of the department’s proposed revision of the definition of “fiduciary.” The proposed definition describes the circumstances under which a financial adviser becomes a fiduciary and must give advice in the best interest of the customer, avoiding […]
Proposed IRS regulations that could undermine workers’ legal rights without public input (September 24, 2012)
The Pension Rights Center submitted comments to the Internal Revenue Service, objecting to a proposed delegation of authority to the IRS Commissioner to issue certain rules without public notice and comment. The Center expressed concern that such a broad delegation could result in the loss of important statutory rights without input by participants and cited […]
Electronic Disclosure by Employee Benefit Plans (June 6, 2011)
The U.S. Department of Labor issued a Request for Information regarding electronic disclosure by employee benefit plans. Read the Center’s comments.
Definition of the Term ‘‘Fiduciary’’ (February 3, 2011)
The Department of Labor has proposed a regulation expanding the definition of the term “fiduciary”. These regulations define when someone giving investment advice to participants in a 401(k) (or to the people running the plan) must act only in the interests of the participants in the plan, and not in their own self-interest. Read the […]
Proposed Regulations on Target Date Funds (January 14, 2011)
The Department of Labor has proposed regulations on “target date” funds. If adopted, the proposed regulations would require 401(k) plans to give employees more information about a type of mutual fund that changes the percentage of stocks and bonds held in the fund as people grow older. The proposed regulations will enable sophisticated participants to […]
Final 401(k) Fee Disclosure Regulations
On October 20, 2010, the Department of Labor issued final regulations that require private retirement savings plans, such as 401(k)s, to tell employees how much they are being charged in record-keeping, investment management and other fees. The regulations also include rules for disclosing information about the plan’s investment options. These rules apply only to plans where […]
U.S. Supreme Court Lets IBM Cash Balance Ruling Stand
The U.S. Supreme Court has decided not to hear an appeal of a court of appeals’ ruling that IBM’s cash balance pension plan did not discriminate against older workers. While this decision ends litigation in the IBM case, it does not end litigation brought against other companies that have converted to cash balance plans. By […]
Proposed Rule on Investment Advice
The Department of Labor has proposed regulations for 401(k) plans wishing to provide investment advice to workers and their families. Read the Pension Rights Center’s comments.
Proposed Regulations and Class Exemption on Investment Advice
The Department of Labor has proposed regulations for 401(k) plans wishing to provide investment advice to workers and their families. Norman Stein submitted comments on behalf of the Pension Rights Center.
Proposed Model Cutback Notice
The U.S. Department of Labor’s Employee Benefits Security Administration has proposed a model notice [PDF] that will be sent to workers in multiemployer plans whose pensions may be reduced because their pension plan is severely underfunded. To shore up the health of underfunded pension plans, the Pension Protection Act of 2006 imposed several requirements that […]
Automatic Contribution Arrangements
The Internal Revenue Service has issued proposed regulations regarding automatic contribution arrangements, also known as automatic enrollment. The Pension Rights Center submitted comments.
Multi-Employer Pension Plan Information Made Available on Request
The Department of Labor issued proposed regulations regarding information available upon request from multiemployer plans. The Pension Rights Center submitted comments.
