Browsing: ERISA


The American Bankers Association today provided feedback to the ERISA Advisory Council (which reports to the Department of Labor) on the role of plan administrators and sponsors with respect to plan audits—including those performed under a limited scope audit engagement in which a bank custodian certifies the completeness and accuracy of investment information of plan assets held by the bank.


In a letter to Department of Labor Assistant Secretary Preston Rutledge today, ABA urged the DOL to make significant changes to its fiduciary rule in order to provide a finished, measured and functional regulation on investment advice.


In a comment letter to the American Institute of CPAs on its proposal to modify audits of Employee Retirement Income Security Act-based employee benefit plans, ABA warned of unintended consequences regarding the requirement for auditors to post findings on specific benefit plan provisions.

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