Pension Operations Advisory Content

On February 21, 2025, the White House released the "America First Investment Policy". Its stated purpose (described in Section 1 of the Policy) is to create an investment policy that will enhance America's national and economic security, including by preventing foreign adversaries...

On February 14, 2025, a judge for the US District Court in the Northern District of Texas issued its decision in the case filed by attorneys general from 26 states against the Department of Labor. The judge granted DOL's motion for summary judgment, refusing the state AGs' attempt to...

The US Department of Labor on January 14, 2025, published an update to the Voluntary Fiduciary Correction Program and a conforming final amended PTE 2002-51, the related prohibited transaction class exemption. The Amendment and final PTE 2002-51 follow proposed updates that DOL...

On January 14, 2025, the Department of Labor (DOL) issued Field Assistance Bulletin (FAB) No. 2025-01, announcing a temporary enforcement policy related to the transfer of small accounts of missing participants to state unclaimed property funds. Under the new enforcement policy, DOL...

On January 10, 2025, Judge O'Connor of the United States District Court for the Northern District of Texas issued a 70-page opinion in Spence v. American Airlines, Inc. In the lawsuit, Bryan Spence, an employee of American Airlines, Inc. and participant in one of American's defined...

On January 10, 2025, the Internal Revenue Service and Treasury Department released proposed regulations providing guidance on the new automatic enrollment requirements under section 101 of the SECURE 2.0 Act.

The Department of Treasury and the Internal Revenue Service recently issued proposed rules to implement SECURE 2.0 Act changes to Code section 414(v).

On December 13, 2024, the ERISA Advisory Council met with staff of the Department of Labor Employee Benefits Security Administration to provide recommendations regarding the topic "Qualified Default Investment Alternatives—Start to Finish, Default to Payout."