The Department of Labor on Monday issued temporary implementing frequently asked questions in connection with an interim final rule that sets out for retirement plan administrators the method for calculating lifetime income illustrations.
The American Bankers Association urged the IRS yesterday to delay the use of new draft forms W-4P and W-4R, which are used to determine the appropriate amount of federal income tax to be withheld for various types of retirement distributions.
The Department of Labor on Tuesday released frequently asked questions for advisers and investors on fiduciary investment advice.
The Department of Labor’s Employee Benefits Security Administration today issued long-anticipated guidance on cybersecurity and best practices for protecting retirement benefits.
In response to concerns raised by industry stakeholders including the American Bankers Association, the Department of Labor will revisit its recent final rules regarding environmental, social or governance investing and a fiduciary’s proxy voting activity under the Employee Retirement Income Security Act
The American Bankers Association joined other members of the Military Family Financial Readiness Coalition in offering recommendations to the Biden-Harris administration to improve the financial readiness of military families.
The Department of Labor this week issued a field assistance bulletin to address the problem of so-called “missing participants”—participants and beneficiaries of terminating or abandoned retirement plans who fail to make an election regarding a form of plan distribution—for ERISA fiduciaries administering these plans.
The Department of Labor today issued a final rule formalizing requirements regarding a fiduciary’s proxy voting activity under the Employee Retirement Income Security Act.
The American Bankers Association today expressed support for a recently finalized Department of Labor interim final rule implementing section 203 of the bipartisan Secure Act of 2019 to require that defined contribution plans (such as 401(k) plans) include two lifetime income illustrations on a plan participant’s pension benefit statement at least once every 12 months.
The American Bankers Association today urged the Department of Labor to withdraw a recent proposal that would add significant regulatory requirements regarding a fiduciary’s proxy voting activity under the Employee Retirement Income Security Act.