Retirement plans store extensive personal data on each participant and beneficiary, ranging from Social Security numbers and addresses to dates of birth, bank account information, and other sensitive financial information.
In the 10 years since the adoption of the Pension Protection Act of 2006 and the “qualified default investment alternative” (QDIA) rules, the defined contribution plan industry has encouraged plan fiduciaries to rely on the QDIA’s safe harbor protections to use participant inertia to drive better participant savings.
Potential fallout from the US Department of Labor’s (DOL’s) fiduciary rule affects the status of Individual Retirement Account (IRA) custodians and trustees that have been approved by the IRS to act as nonbank custodians and trustees.
We have all heard about the significant effect that the US Department of Labor’s (DOL’s) final fiduciary rule will have on the Individual Retirement Account (IRA) business and investment advice structure.
Morgan Lewis partners Amy Pocino Kelly and Julie Stapel recently sat down with Robert Capone, Head of Defined Contribution and Sub Advisory at AQR Capital Management LLC, to discuss fiduciary due diligence considerations for defined contribution plans when including alternative asset classes.
Health plan administrators are (or certainly should be) well-versed in their obligations under the Health Insurance Portability and Accountability Act (HIPAA), as amended by the Health Information Technology for Economic and Clinical Health Act (HITECH).
Marla Kreindler , a partner in our Chicago office, has been reappointed to serve on the Operating Committee of the Defined Contribution Institutional Investment Association (DCIIA).
Bloomberg BNA has just released the 2015 Cumulative Supplement to the fourth edition of the book “ERISA Class Exemptions,” co-authored by Employee Benefits partner Michael B. Richman and retired partner Donald J. Myers.
As the Department of Labor (the DOL) considers comments on its proposed changes to the definition of an “investment advice” fiduciary under ERISA, an open question has been whether Congress would take action to delay or block the rule.