DOL Rescinds 2022 Cryptocurrency Guidance for 401(k) Plans
The 2022 compliance assistance bulletin told plan fiduciaries to exercise ‘extreme care’ before adding a cryptocurrency option to a 401(k)...
Tag: Department of Labor (DOL)
DOL Stops Enforcing Biden-Era Independent Contractor Rule
Though the agency has not fully rescinded the 2024 rule, it indicated it will return to a simpler standard to...
DOL Funding Cut by 26% in Trump Budget Proposal
Trump’s proposed cuts would slash about $3.63 billion from the DOL.
GOP House Bills Target DOL Audit Process
The legislation would require the Department of Labor to submit annual reports on the status of its investigations, including those...
DOL Reconsidering Biden-Era ESG Considerations Rule
Although the rule survived several court challenges during the Biden administration, it is in jeopardy once again.
DOL Gets 60 More Days to Decide Next Steps in Fiduciary Rule Lawsuit
The Department of Labor will have an additional 60 days, to June 16, 2025, to decide its next steps in...
Former Acting Labor Secretary Su Outlines “Risks” From a Weakened DOL Under Trump
In a commentary last week, Julie Su opined about “nightmares that could become the norm in a country without a...
DOL Provides Guidance About DB Funding Notice Requirements
In Field Assistance Bulletin 2025-02, the regulator addressed confusion resulting from ERISA-related questions that arose after passage of the SECURE...
Voluntary Fiduciary Correction Program Improvements Take Effect
The Employee Benefits Security Administration’s updated self-correction tool launched this week.
Chavez-DeRemer Confirmed as Secretary of Labor
The full Senate vote came after President Donald Trump’s pick to head the Department of Labor was cleared by the...
Fired Probationary Workers Reinstated at EBSA
The probationary employees and head of the Department of Labor’s Division of Employee Ownership, who were recently terminated, reportedly received...
What DOL Layoffs Could Portend for EBSA’s Future
Probationary employees and the head of the agency’s division of employee ownership were recently terminated amid President Donald Trump’s efforts...
ERISA Advisory Council Status Unclear
The ERISA Advisory Council has not yet set a date for the year’s first meeting, and the DOL has also...
Daniel Aronowitz Nominated to Head EBSA
President Donald Trump’s nomination of Aronowitz, an expert on fiduciary liability insurance, was received in the Senate on Tuesday.
Unions’ Motion for Restraining Order Against DOL Blocked
A judge blocked an attempt from several union groups and a think tank to prevent the Department of Labor from...
Will Trump DOL Move Away From Biden Independent Contractor Classification Rule?
Oral arguments in Frisard’s Transportation LLC v. United States DOL were scheduled to begin early this month, but under the...
Department of Labor Secretary Nominee Gets Confirmation Hearing Date
While she has not been publicly outspoken about retirement policy, Chavez-DeRemer has been more active on the employer health plan...
Education and Workforce Committee Renews Call to Probe EBSA for Alleged ‘Power Abuse’
The committee has once again urged the Department of Labor’s Office of Inspector General to investigate claims that the Employee...
Proposed ESOP Rules Scrapped Following Trump’s Regulatory Freeze
A presidential executive order issued Monday led to the withdrawal of rules that had not yet been published in the...
DOL’s Retirement Savings Lost and Found Database Goes Live
The database centralizes information for lost retirement accounts and provides guidance to claim funds.