Mandatory arbitration of ERISA claims could curb class action litigation, but open issues remain. Careful drafting is a must.
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Plan sponsors may receive a letter inviting them to participate in a pre-audit compliance pilot program.
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The pushback against the DOL’s position on cryptocurrency investments intensifies as a lawsuit is filed by ForUsAll to invalidate the DOL guidance. Has the DOL exceeded its statutory authority?
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We still have no final word from the courts on the enforceability of ERISA mandatory arbitration provisions, but plan sponsors can increase the chances that their mandatory arbitration policies will be upheld by reviewing the reasoning in recent cases. That’s assuming that Congress doesn’t act.
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Individual states are stepping up to provide a vehicle for those not covered by employer-sponsored retirement plans to save for retirement. However, employers who would be covered by these programs may not be aware of alternative options that can accept higher contributions. This article discusses the issues.
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Cryptocurrency is here to stay. There are many different types of cryptocurrency and cryptocurrency-related investments and they have different risk profiles. Regardless of whether you think cyptocurrency belongs in 401(k) plans, it is in everyone’s interest for the DOL to clarify its new guidance and for there to be an improved process for issuing further guidance. Stakeholders can help the DOL understand more about the market and how it is evolving.
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Carol Buckmann is quoted in this 401ktv article on private equity investments through 401(k) plans.
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Does private equity belong in 401(k) plans? The Department of Labor has issued new guidance cautioning fiduciaries about the risks. Carol Buckmann discusses the issues in this article for Investment News.
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The Department of Labor has cautioned plan fiduciaries to “exercise extreme care” in deciding whether to permit cryptocurrency investments.
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The decision has implications for both 401(k) and 403(b) plan fiduciaries.
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On the hunt for good fiduciary processes when selecting and monitoring investment funds for 401(k) plans after Hughes v. Northwestern University? Ben Josselsohn has some thoughts about how plan sponsors and fiduciaries can demonstrate appropriate procedural prudence as they make difficult tradeoffs when reviewing plan investments and service providers.
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Carol Buckmann authored an article “Settlement Holds ERISA Lessons for Private Co Directors” which has been published by Law360.
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Another court grapples with arbitration of ERISA fiduciary breach claims.
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Pooled Employer Plans (PEPs) are a new way for employers to outsource their fiduciary responsibility to a team of professionals.
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There will be many challenges for benefits professionals in 2022. Here are some of the issues.
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