On April 6, 2015, the U.S. Department of Labor (Department) issued its final rule defining who is a fiduciary of an employee benefit plan under the
On October 14, 2010, the U.S. Department of Labor ("DOL") issued a final regulation under the Employee Retirement Income Security Act of 1974 ("ERISA") setting forth the fiduciary requirements for disclosure in participant-directed individual account plans, e.g., 401(k) plans.
On October 21, 2010, the U.S. Department of Labor (the “DOL”) issued a proposed rule addressing when a person providing investment advice with respect to an employee benefit plan is considered a fiduciary under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).
The U.S. Department of Labor (“DOL”) recently published interim final regulations (the “Interim Final Regulations”) under Section 408(b)(2) of the U.S. Employee Retirement Income Security Act of 1974, as amended (“ERISA”), which will require certain service providers to employee pension benefit plans and entities holding “plan assets” to disclose information regarding their compensation so as to assist plan fiduciaries in assessing the reasonableness of the service provider’s contract with the plan and the potential for conflicts of interest.