Defined Contribution / 401(k) Plans

Updates

protected content DOL Issues FAQs on Participant-Level and Service Provider Disclosure Rules

The Department of Labor's Employee Benefits Security Administration on May 7 issued a series of frequently asked questions (“FAQs”) that provide follow-up guidance to the Department’s final regulations on participant-level fee disclosure rules. These rules under section 404 of ERISA were released in October 2010. The FAQs also provide guidance related to the final disclosure rules related to service provider disclosure to employers under section 408(b)(2).… More

ERIC Offers Recommendations to Improve Treasury Lifetime Income Guidance

ERIC on May 2 submitted to the Department of Treasury and Internal Revenue Service a series of three comment letters in response to their February 2012 package of proposed regulations and revenue rulings regarding lifetime-income options for participants and beneficiaries in retirement plans. … More

ERIC Calls on Congress to Preserve Employer-Provided Retirement System

Washington, D.C. -- ERIC on April 17 joined 28 other trade associations in submitting a statement for the record for a House Ways and Means… More

protected content House Ways and Means Committee Examines Retirement Tax Incentives

The House Ways and Means Committee on April 17 heard early testimony examining tax incentives for retirement saving as part of the… More

protected content SEC Extends Comment Period on Proposed Rule on Target Date Fund Marketing

The Securities and Exchange Commission recently announced that it is reopening the comment period on a proposed rule that would modify the… More

See All Updates

Letters to Congress

ERIC Calls on Congress to Preserve Employer-Provided Retirement System

Washington, D.C. -- ERIC on April 17 joined 28 other trade associations in submitting a statement for the record for a House Ways and Means… More

ERIC Urges Senate Finance Committee to Preserve Tax Incentives for Retirement Savings

ERIC along with several other trade associations submitted a joint statement for the record for a March 30th tax reform hearing before the… More

More Letters to Congress

Testimony

protected content House Ways and Means Committee Examines Retirement Tax Incentives

The House Ways and Means Committee on April 17 heard early testimony examining tax incentives for retirement saving as part of the… More

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Borzi Defends DOL’s Proposed Definition of Fiduciary at House Hearing, While Lawmakers and Witnesses Call for Withdrawal

The House Education and Workforce Subcommittee on Health, Employment, Labor and Pensions Subcommittee on July 26 held a hearing on the… More

ERIC Urges Agencies to Focus Lifetime Income Effort on Education, Genuine Safe Harbor, and Avoid Mandate of Annuities

ERIC News Release For Immediate Release: September 14, 2010 Washington, D.C. -- Allison Klausner, Assistant General Counsel (Benefits) for… More

More Testimony

Letters to Agencies

ERIC Offers Recommendations to Improve Treasury Lifetime Income Guidance

Washington, D.C. – The ERISA Industry Committee (ERIC) today submitted to the Department of Treasury and Internal Revenue Service a series of three comment letters in response to their February 2012 package of proposed regulations and revenue rulings regarding lifetime-income options for participants and beneficiaries in retirement plans. … More

ERIC Urges DOL to Permit Broader Use of Electronic Media for Participant Disclosures

Washington, D.C. -- ERIC, along with a coalition of 14 other business trade associations, strongly urged the Department of Labor… More

DOL Releases SEC No-Action Letter on Participant Disclosure

The Department of Labor on October 27 released a Securities and Exchange Commission “no-action letter” relating to the… More

ERIC Again Urges DOL to Expand Safe Harbor for Electronic Distribution of Participant-Level Disclosures

ERIC along with several other trade organizations on July 7 wrote to Labor Secretary Hilda Solis and OMB Director Jack Lew urging them to… More

ERIC Urges DOL to Extend Transition Periods for Fee Disclosure Rules, Expand Safe Harbor for Electronic Disclosure

ERIC on June 14 urged the Department of Labor (DOL) to include a transition period as part of the fiduciary-level fee disclosure rule to… More

ERIC Urges DOL to Expand Safe Harbor for Electronic Disclosure by Employee Benefit Plans

ERIC News Release For Immediate Release: June 6, 2011 Washington, D.C. -- The ERISA Industry Committee (ERIC) on June 3 urged the… More

ERIC to Treasury: Improve the Regulatory Process for Qualified Plans, Group Health Benefits, and Executive Compensation

ERIC on April 29 submitted comments to the Department of Treasury in response to a Request for Information (RFI) as part of President… More

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Key Republican Lawmakers Raise Concerns to DOL on Definition of Fiduciary Regulation

The Chairmen of the House Ways and Means Committee and Education and Workforce Committee as well as the Ranking Members of the Senate HELP… More

ERIC Submits Recommendations to DOL on Ways to Reduce the Regulatory Burden

ERIC on April 8 submitted comments to the Department of Labor (DOL) in response to a Request for Information (RFI) on ways the Department… More

ERIC Urges Balance on Proposed Target Date Fund and QDIA Disclosure Requirements

For Immediate Release: January 14, 2011 Washington, D.C. -- The ERISA Industry Committee today submitted comments to the Department of… More

ERIC, Chamber and PSCA Advise DOL to Not Regulate “Generally Accepted Investment Theories”

ERIC News Release For Immediate Release: May 5, 2010 Washington, D.C. -- The ERISA Industry Committee (ERIC), in coordination with the U.S.… More

ERIC Offers Recommendations to Government Request on Lifetime Income Options

ERIC News Release For Immediate Release: May 3, 2010 Washington, D.C. -- The ERISA Industry Committee (ERIC), the Washington, D.C.-based… More

ERIC Says No Need for Additional ERISA Regulations Aimed at Target Date Funds

Washington, D.C. -- In comments submitted today to the Department of Labor and the Securities and Exchange Commission in connection with a… More

More Letters to Agencies

Legislative Documents

protected content House Ways and Means Committee Examines Retirement Tax Incentives

The House Ways and Means Committee on April 17 heard early testimony examining tax incentives for retirement saving as part of the… More

protected content Senate HELP Committee Chairman Harkin Introduces Rebuild America Act

Senator Tom Harkin (D-IA), Chair of the Senate Health, Education, Labor and Pensions Committee, has introduced “Rebuild America… More

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California State Senators Introduce Legislation Mandating Employer Participation in Retirement Plans

Legislation has been introduced in the California Senate that would require employers with five or more employees in the State of California… More

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Amendment to Senate Transportation Bill Includes Pension Funding Stabilization Proposal

An amendment (S.A. 1633) offered during Senate consideration of legislation (S. 1813) to reauthorize surface transportation funding contains… More

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Key Senators Introduce Legislation to Reduce 401(k) “Leakage”

Senate Special Committee on Aging Chairman Herb Kohl (D-WI) and Senate Health, Education, Labor and Pensions Ranking Member Mike Enzi (R-WY)… More

Obama Signs into Law Small Business Jobs Act with Roth Conversions Language

President Obama on September 27 signed into law H.R. 5297, the Small Business Jobs Act of 2010 containing a provision to permit individuals… More

Baucus Bill Would Allow Rollover of Pretax 401(k) Balances to Roth IRAs

Senate Finance Committee Chairman Max Baucus (D-MT) recently unveiled legislation (H.R. 5297, the Small Business Jobs Act) that would… More

More Legislative Documents

Regulatory Documents

protected content DOL Issues FAQs on Participant-Level and Service Provider Disclosure Rules

The Department of Labor's Employee Benefits Security Administration on May 7 issued a series of frequently asked questions (“FAQs”) that provide follow-up guidance to the Department’s final regulations on participant-level fee disclosure rules. These rules under section 404 of ERISA were released in October 2010. The FAQs also provide guidance related to the final disclosure rules related to service provider disclosure to employers under section 408(b)(2).… More

protected content SEC Extends Comment Period on Proposed Rule on Target Date Fund Marketing

The Securities and Exchange Commission recently announced that it is reopening the comment period on a proposed rule that would modify the… More

protected content FinCEN Extends Time for Required Electronic Filing of FBAR

The Financial Crimes Enforcement Network (FinCEN) on February 24 announced a general exemption from mandatory electronic filing of the… More

protected content IRS Proposed Regulations Exempt Some Non-US Plans from FACTA

The Treasury Department and Internal Revenue Service on February 8 issued proposed regulations implementing the information reporting and… More

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Treasury and Labor Department Release Proposed Regulations on Lifetime Income Options

The Treasury Department, in consult with the Labor Department, on February 2 released proposed regulations and revenue rulings intended to… More

protected content DOL Releases Final Service Provider Plan Fee Disclosure Rules under Section 408(b)(2)

The Department of Labor on February 3 published in the Federal Register long-anticipated final rules under ERISA section 408(b)(2) requiring… More

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FINRA Issues Notice Confirming No Conflict with Securities Laws for DOL Disclosure Requirements

The Financial Industry Regulatory Authority (FINRA) on January 26 released Regulatory Notice 12-02, providing guidance on the application of… More

IRS Updates Guidance on Compensation Tables, Determination Letters, Technical Advice

The Internal Revenue Service over the past two weeks released several pieces of guidance updating various employee benefit plan procedures… More

IRS Extends Deadline to Submit Opinion and Advisory Letter Applications for Pre-approved DC Plans

The Internal Revenue Service in Announcement 2012-3 extended to April 2, 2012, the deadline to submit on-cycle applications for opinion and… More

protected content IRS Releases 2011 Cumulative List of Changes in Plan Qualification Requirements

The Internal Revenue Service on December 12 released the 2011 Cumulative List of Changes in Plan Qualification Requirements (2011 Cumulative… More

protected content EBSA Clarifies Interim Guidance on Electronic Disclosures

The Department of Labor’s Employee Benefits Security Administration on December 8 issued Technical Release 2011-03R, which revises its… More

DOL Releases SEC No-Action Letter on Participant Disclosure

The Department of Labor on October 27 released a Securities and Exchange Commission “no-action letter” relating to the… More

protected content DOL Releases Final Rule on Investment Advice under PPA

The Department of Labor’s Employee Benefits Security Administration on October 25, 2011, published in the Federal Register a final… More

DOL Releases Technical Bulletin on Interim e-Delivery Under Section 404(a)

The Department of Labor has released Technical Release 2011-03 Interim Policy on Electronic Disclosure under Section 404(a). As part of… More

protected content IRS, PBGC, and SSA Announce 2012 Pension Plan Limits and Other Retirement-Related Items

The Internal Revenue Service, Pension Benefit Guaranty Corporation, and Social Security Administration recently announced the 2012 cost of… More

DOL Announces It Will Re-Propose Definition of Fiduciary Rule

The Department of Labor has announced that it will re-propose the rule on definition of fiduciary.   The decision to re-propose is… More

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Obama Administration Releases Agencies’ Final Plans for Regulatory Review

The Obama Administration on August 23 released the final regulatory review plans for the various federal agencies as part of President… More

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DOL Proposes Extension of Fee Disclosure Applicability Dates

The Department of Labor's Employee Benefits Security Administration (EBSA) on June 1 published in the Federal Register a notice… More

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Agencies Request Input on Regulatory Burden Issues

In response to President Obama's Executive Order 13563 instructing federal agencies to detail their methods for reviewing existing… More

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DOL Highlights Key Health and Retirement Regulatory Agenda Items

Following the December 20 release its Fall 2010 Regulatory Agenda, the Department of Labor has been holding a series of web chats on the… More

FASB to Clarify How Loans to Participants Should Be Accounted for by DC Plans

The Financial Accounting Standards Board on August 18 issued an Exposure Draft that would require defined contribution plans to classify… More

DOL Releases Interim Final Rule on Service Provider Disclosures

The Department of Labor on July 16 published in the Federal Register a long-awaited interim final rule under section 408(b)(2) of ERISA… More

SEC Releases Proposed Target Date Fund Rule

The Securities and Exchange Commission on June 18 released a proposed rule that would modify the rules that apply to advertising and… More

IRS Issues Final Rules on Diversification Rules for DC Plans Holding Employer Stock

The Internal Revenue Service on May 19 published in the Federal Register final rules under Internal Revenue Code section 401(a)(35)… More

Labor Department and SEC Issue Bulletin on Target Date Funds

The Department of Labor's Employee Benefits Security Administration (EBSA) and the Securities and Exchange Commission (SEC) on May 6… More

Labor Department’s Spring Regulatory Agenda Features Key Employee Benefit Issues

The Department of Labor's recently released its spring regulatory agenda, which lists guidance projects covering a wide variety of… More

DOL and Treasury Release RFI on Lifetime Income Options for Retirement Plans

The Departments of Labor and Treasury on February 2 jointly published in the Federal Register a Request for Information (RFI) seeking… More

More Regulatory Documents

Judicial Documents

protected content Second Circuit Court of Appeals Affirms Dismissal of Citigroup Stock Drop Claims

The U.S. Court of Appeals for the Second Circuit on October 19 decided the Citigroup stock drop case, affirming the dismissal of the claims… More

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Seventh Circuit Denies Rehearing of Ruling on Alleged Fiduciary Breach Concerning Unitized Fund and Recordkeeping Fees

The U.S. Court of Appeals for the Seventh Circuit on May 26 announced it would not rehear a divided three-judge panel ruling, which held… More

ERIC Urges Appeals Court to Uphold District Court’s Dismissal of “Stock Drop” Case (Gray v. Citigroup Inc. In re: Citigroup ERISA Litigation)

Washington, D.C. -- The ERISA Industry Committee (ERIC), the Washington, D.C.-based trade association representing America's major… More

ERIC Urges Appeals Court to Uphold District Court Ruling Against Alleged 401(k) Fiduciary Breach Claims

Washington, D.C. -- The ERISA Industry Committee (ERIC), the Washington, D.C.-based trade association representing America's major… More

More Judicial Documents

Government Reports

protected content President Obama Releases Fiscal-Year 2013 Budget Proposal

President Obama on February 13 unveiled a $3.8 trillion budget proposal for fiscal year 2013 that seeks to continue with the economic… More

protected content IRS Releases 2011 Cumulative List of Changes in Plan Qualification Requirements

The Internal Revenue Service on December 12 released the 2011 Cumulative List of Changes in Plan Qualification Requirements (2011 Cumulative… More

protected content IRS, PBGC, and SSA Announce 2012 Pension Plan Limits and Other Retirement-Related Items

The Internal Revenue Service, Pension Benefit Guaranty Corporation, and Social Security Administration recently announced the 2012 cost of… More

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GAO Reviews Policy Options Available to Ensure Income Throughout Retirement

A recent Government Accountability Office report prepared for Senate Special Committee on Aging Chairman Herb Kohl (D-WI) suggests that… More

Deficit Reduction Commission Fails to Reach Supermajority, but Proposals Are Not Going Away

The Deficit Reduction Commission, aka "The National Commission on Fiscal Responsibility and Reform," on December 3 held its final meeting to… More

More Government Reports

Additional Resources

EBRI Study Finds Curtailing Tax Treatment of 401(k)s Could Reduce Balances

According to research by the Employee Benefit Research Institute, a proposal to change the tax preferences for employment-based 401(k)… More

CRR Analysis Challenges Assumptions Regarding Low-Income Wage Reduction for 401(k) Benefits

A recent report by the Center for Retirement Research written by Eric Toder and Karen E. Smith examines the distributional benefits of… More

EBRI/ICI Report Finds 401(k) Investors Seeking Greater Balance

A new report by the Employee Benefit Research Institute (EBRI) and Investment Company Institute (ICI) finds that 401(k) plan participants… More

protected content EBRI Analysis Finds Tax Reform Proposals Likely to Reduce 401(k) Account Balances

  According to a new analysis by the Employee Benefit Research Institute, two proposals under consideration by Congress to change the… More

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EBRI: Capping 401(k) Contributions Would Hurt Both High and Low-Income Workers

A new analysis by the Employee Benefit Research Institute finds that capping the annual tax preferred contributions to the lower of $20,000… More

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Towers Watson Finds Employers to Spend More Time on Retirement Plan Governance

With benefit costs rising and increased regulatory complexity, four out of 10 U.S. employers expect to spend more time governing their… More

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ASPPA Study Says Bad Budget Math Targets Taxing 401(K) Plans

A new study by the American Society of Pension Professionals & Actuaries (ASPPA) finds that proposals to scale back or eliminate… More

More Additional Resources

Press Releases

ERIC Offers Recommendations to Improve Treasury Lifetime Income Guidance

Washington, D.C. – The ERISA Industry Committee (ERIC) today submitted to the Department of Treasury and Internal Revenue Service a series of three comment letters in response to their February 2012 package of proposed regulations and revenue rulings regarding lifetime-income options for participants and beneficiaries in retirement plans. … More

ERIC Urges DOL to Permit Broader Use of Electronic Media for Participant Disclosures

Washington, D.C. -- ERIC, along with a coalition of 14 other business trade associations, strongly urged the Department of Labor… More

ERIC Urges DOL to Expand Safe Harbor for Electronic Disclosure by Employee Benefit Plans

ERIC News Release For Immediate Release: June 6, 2011 Washington, D.C. -- The ERISA Industry Committee (ERIC) on June 3 urged the… More

ERIC Urges En Banc Review of Ruling on Alleged Fiduciary Breach Concerning Unitized Fund and Recordkeeping Fees (George v. Kraft Foods Global)

ERIC News Release For Immediate Release: May 18, 2011 Washington, D.C. -- The ERISA Industry Committee (ERIC) on May 13 filed with the U.S.… More

ERIC Urges Balance on Proposed Target Date Fund and QDIA Disclosure Requirements

For Immediate Release: January 14, 2011 Washington, D.C. -- The ERISA Industry Committee today submitted comments to the Department of… More

ERIC Urges Agencies to Focus Lifetime-Income Effort on Education, Genuine Safe Harbor, and Avoid Mandate of Annuities

For Immediate Release: September 14, 2010 Washington, D.C. -- Allison Klausner, Assistant General Counsel (Benefits) for Honeywell… More

ERIC, Chamber and PSCA Advise DOL to Not Regulate “Generally Accepted Investment Theories”

ERIC News Release For Immediate Release: May 5, 2010 Washington, D.C. -- The ERISA Industry Committee (ERIC), in coordination with the U.S.… More

ERIC Offers Recommendations to Government Request on Lifetime Income Options

ERIC News Release For Immediate Release: May 3, 2010 Washington, D.C. -- The ERISA Industry Committee (ERIC), the Washington, D.C.-based… More

ERIC Urges Appeals Court to Uphold District Court Ruling Against Alleged 401(k) Fiduciary Breach Claims

Washington, D.C. -- The ERISA Industry Committee (ERIC), the Washington, D.C.-based trade association representing America's major… More

ERIC Says No Need for Additional ERISA Regulations Aimed at Target Date Funds

Washington, D.C. -- In comments submitted today to the Department of Labor and the Securities and Exchange Commission in connection with a… More

More Press Releases

Amicus Briefs

ERIC Urges En Banc Review of Ruling on Alleged Fiduciary Breach Concerning Unitized Fund and Recordkeeping Fees (George v. Kraft Foods Global)

ERIC News Release For Immediate Release: May 18, 2011 Washington, D.C. -- The ERISA Industry Committee (ERIC) on May 13 filed with the U.S.… More

ERIC Urges Appeals Court to Uphold District Court’s Dismissal of “Stock Drop” Case (Gray v. Citigroup Inc. In re: Citigroup ERISA Litigation)

Washington, D.C. -- The ERISA Industry Committee (ERIC), the Washington, D.C.-based trade association representing America's major… More

ERIC Urges Appeals Court to Uphold District Court Ruling Against Alleged 401(k) Fiduciary Breach Claims

Washington, D.C. -- The ERISA Industry Committee (ERIC), the Washington, D.C.-based trade association representing America's major… More

More Amicus Briefs

Court Rulings

protected content Second Circuit Court of Appeals Affirms Dismissal of Citigroup Stock Drop Claims

The U.S. Court of Appeals for the Second Circuit on October 19 decided the Citigroup stock drop case, affirming the dismissal of the claims… More

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Seventh Circuit Denies Rehearing of Ruling on Alleged Fiduciary Breach Concerning Unitized Fund and Recordkeeping Fees

The U.S. Court of Appeals for the Seventh Circuit on May 26 announced it would not rehear a divided three-judge panel ruling, which held… More

More Court Rulings