Letters to Agencies – 401(k) Plans

2011 2012 2013 2014 2015 2016 2017 2018 2019

ERIC joins other trades in push for electronic delivery

Last week, ERIC joined several other trade associations in urging the Department of Labor (DOL) to issue proposed regulations on electronic delivery as directed by the President’s Executive Order on Strengthening Retirement Security in America… More

ERIC Continues Push for Change in Missing Participant Audits

ERIC continues to seek changes in the missing participant audit process by requesting an end to closing letters that contain a fiduciary breach finding… More

protected content ERIC Comments on Maine State Retirement Savings Plan

ERIC has submitted a letter to Maine state legislators addressing concerns with proposed legislation currently under consideration regarding the state's retirement savings plan… More

ERIC Weighs in on Guidance Related to Missing Retirement Plan Participants

ERIC submitted suggestions to the U.S. Department of Labor Assistant Secretary of Labor Preston Rutledge on guidance related to the challenge of employers locating missing retirement plan participants… More

protected content Alert: ERIC Submits Comment Letters on Washington and Oklahoma State Retirement Savings Program Bill

This week ERIC submitted letters in two different states reminding them of the preemption provisions for employers that currently sponsor retirement plans under ERISA. Both Washington state and Oklahoma are considering the implementation of mandatory state-administered IRA programs which would contravene ERISA’s preemption provisions… More

ERIC Submits Comments on Oklahoma State Retirement Plan Bill

The ERISA Industry Committee is writing regarding Oklahoma Senate Bill 934 (“SB 934”) to urge the legislators to acknowledge the preemption provisions under federal law—The Employee Retirement Income Security Act of 1974 (“ERISA”)—by exempting employers that already provide access to a retirement savings plan from the requirements of SB 934… More

ERIC Comments on Proposed Regulations Relating to Hardship Distribution Provisions

ERIC submitted comments to the Internal Revenue Service on proposed regulations relating to hardship distribution provisions for 401(k) plans… More

ERIC Encourages IRS to Provide Guidance on Student Loan Relief

ERIC worked with a coalition of companies and business groups to encourage the IRS to provide guidance that all employers could use when considering student loan relief in their retirement plans… More

protected content Illinois Secure Choice Update

In a prior email I mentioned that the Illinois Secure Choice Retirement Plan was sending emails to large companies requesting that the company either commence the enrollment process into the Secure Choice Plan or report that the company provides a retirement plan to employees and is exempt from the Secure Choice mandate… More

ERIC Offers IRS a Helping Hand on Student Loan Debt

ERIC today sent the Internal Revenue Service (IRS) a letter regarding retirement savings programs for individuals repaying student loans. In the letter, ERIC praised the IRS for issuing Private Letter Ruling-131066-17, which permits the 401(k) plan sponsor that requested the PLR to contribute to the company’s 401(k) plan on behalf of plan participants who pay down student loan debt but do not necessarily contribute to the company’s 401(k) plan … More

ERIC Submits Comments on Proposed New York City Retirement Program

ERIC submitted comments with the New York City Council regarding proposed bill Int. 0888-2018, that would establish a retirement savings program for private-sector employees. ERIC supports proposals and programs run by states and localities designed to promote and facilitate retirement saving by those employed by an employer that does not provide a retirement plan, but has concerns about how the proposed program overlaps and connects with the Employee Retirement Income Security Act of 1974 (ERISA), the federal law that already governs the administration of private-sector retirement plans … More

ERIC Offers Guidance on Missing Plan Participants

ERIC sent a letter to Assistant Secretary of Labor Preston Rutledge encouraging the Department of Labor (DOL) to focus its efforts on developing guidance related to the challenge of employers locating missing retirement plan participants. The letter also asks that until guidance is provided, the DOL should stop issuing letters that allege an employer has committed a breach of fiduciary duty with respect to the practices utilized to locate missing retirement plan participants… More

ERIC Sends Comment Letter on the Determination Letter Program to the IRS

The ERISA Industry Committee (“ERIC”) and the In-House Benefits Counsel Network (the “IBCN”) are pleased to respond to the request of the U.S. Treasury Department and the Internal Revenue Service (collectively, the “Agencies”) for comments regarding Notice 2018-24, relating to their “Request for Comments on Scope of Determination Letter Program for Individually Designed Plans during Calendar Year 2019” (the “Notice”)… More

California State Retirement Plan Has Opportunity to Protect Employer-Sponsored Plans

The ERISA Industry Committee (ERIC) today submitted comments to the California Secure Choice Retirement Investment Savings Board regarding the state’s Secure Choice Program’s reporting requirements included in the draft emergency regulations… More

ERIC Comments to AICPA

The ERISA Industry Committee (ERIC) and the U.S. Chamber of Commerce (Chamber) are pleased to respond to the request by the American Institute of Certified Public Accountants (AICPA) for comments regarding the Proposed Statement on Auditing Standards, Forming an Opinion and Reporting on Financial Statements of Employee Benefits Plans Subject to ERISA (Proposal)… More

ERIC Comments on Nevada Fiduciary Rule

The ERISA Industry Committee (“ERIC”) is pleased to submit comments to the Nevada Securities Division on Senate Bill 383 (“S.B. 383”), the law imposing a statutory fiduciary duty on brokers- dealers and investment advisers, and the effect proposed regulations, if adopted, would have on small business as defined under Nevada law… More

U.S. Senate Protects Employer-Sponsored Retirement Benefits

The ERISA Industry Committee (ERIC) is pleased that the United States Senate has passed a resolution fully repealing the Department of Labor rules that have allowed state governments to enact mandatory retirement plans that do not comply with the Employee Retirement Income Security Act… More

ERIC’s Letter to Sec. Acosta Asking to Protect Emoployer-Sponsored Retirement Plans

The ERISA Industry Committee (“ERIC”) writes to share our concerns about potential state activity that interferes with the ability of employers to provide voluntary retirement benefits under the Employee Retirement Income Security Act of 1974 (“ERISA”), and urges your support to protect plan sponsors and the retirement security of millions of Americans… More

protected content Hardship Update and Minimum Present Value Comment Letter

ERIC successfully filed three comment letters on your behalf this week! In addition, below is an overview of changes to hardship distribution audit procedures. This information is hot off the presses – just released within the past hour… More

ERIC Comments on Oregon Retirement Savings Plan

The ERISA Industry Committee (“ERIC”) is pleased to respond to the request of the Oregon State Treasury for comments regarding rules on the Oregon State Retirement Savings Plan (“Proposed Rule”)… More

protected content Two Comment Letters Filed - PEP & Oregon

It has been a busy few days with the filing of two comment letters - and one more to file tomorrow… More

ERIC Submits Comments to IRS and Treasury on Pension Equity Plans

The ERISA Industry Committee (“ERIC”) is pleased to respond to the request of the U.S. Treasury Department and the Internal Revenue Service (collectively, the “Agencies”) for comments regarding Notice 2016-67 (the “Notice”), which addresses the applicability of Code § 411(b)(5)(B)(i) to “implicit interest” pension equity plans… More

protected content ERIC Files Letter with IRS Regarding Hardship Distributions

ERIC has filed a letter with the IRS in response to a request for input on hardship distributions… More

NEW EEOC Rule Puts Wage Data at Risk

The ERISA Industry Committee (ERIC) submitted comments to the U.S. Equal Employment Opportunity Commission (EEOC) on proposed revisions to the EEO-1 Report… More

ERIC asks IRS to extend deadline for Cycle E on cycle determination letter submissions

The ERISA Industry Committee (ERIC) has asked the IRS to clarify the deadline for on-cycle determination letter submissions for Cycle E filers… More

2011 2012 2013 2014 2015 2016 2017 2018 2019