Retirement Regulation

The Department of Labor is seeking nominations for five, three-year vacancies on the ERISA Advisory Council, which meets four times a year to make recommendations to the Secretary regarding functions carried out under ERISA.

The Institutional Retirement Income Council has released a new paper that recommends plan sponsors provide retirement income projections to plan participants, calling it an important element of retirement preparedness.

With recent changes to the design of health care plans, there is more room for employers to violate their fiduciary obligations; however, they can take steps to ensure that they are meeting those responsibilities.

Now that the Abandoned Plan Program, which offers guidance on distributing assets from bankrupt companies' retirement plans, is in effect, the American Retirement Association offers recommendations to the DOL.

A preliminary injunction, granted Thursday by a federal judge, puts the implementation of the Labor Department's controversial new Retirement Security Rule, set to take effect September 23, on hold until further order of the court.

The Employee Benefits Security Administration's Abandoned Plan Program launches its online portal to assist in winding up individual account pension plans that have been abandoned by bankrupt companies.