In a comment letter to the Department of Labor today, ABA expressed support for a recent proposal that would modernize retirement disclosures by facilitating the use of electronic delivery for participant notices and disclosures.
The Labor Department has issued its much-awaited proposal that would modernize retirement disclosures by providing a new safe harbor for employee benefit plan administrators to use electronic delivery for participant notices and disclosures.
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.
The Department of Labor today announced a temporary enforcement policy on prohibited transaction rules applicable to investment advice fiduciaries.
The Fifth Circuit Court of Appeals today blocked third-party efforts to appeal its March ruling that vacated the Department of Labor’s fiduciary rule in its entirety.
A panel of federal judges today vacated the Department of Labor’s fiduciary rule in its entirety, overturning a lower court ruling.
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 advance of the House Financial Services Committee’s plans to vote on several regulatory reform bills tomorrow and Friday, ABA today sent a memo to committee members outlining the association’s support for 10 bills on the agenda.
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.
With the Department of Labor’s fiduciary rule now in effect, ABA today released a new members-only guide to help banks understand the rule’s implications for their marketing and sales activity.