Governance and Compliance Advisory (GCA) Updates and Insights
September saw an increase in significant retirement plan regulatory activity.
In typical August fashion, legislative, regulatory and other guidance was minimal. Most of these developments relate to health and welfare plans, particularly IRS guidance on over-the-counter items for FSAs.
In July, key decisions and rulings prompted significant activity in executive compensation, retirement, welfare and other benefits.
In July, legislation introduced in the House focused on protecting participants in defined contribution plans by encouraging plans to offer (and participants to elect) lifetime annuity payments when they retire, and by introducing a fee disclosure bill.
June was an important month for same-gender partnership and economic hardship relief legislation.
The IRS has proposed new regulations, effective for amendments adopted after May 18, 2009, that allow safe harbor plan sponsors to reduce or suspend their non-elective contributions without first terminating their plans.
In April, significant legislation focused on participantsâ€™ rights in defined contribution plans.
ERISA fiduciaries are under tremendous pressure today. ERISA litigation, involving excessive-fee and stock-drop claims, continues its upward trend. While most of these cases settle, there are real dollars at stake.
After a flurry of activity in recent months, there were just a handful of significant legislative and regulatory developments in March.
February saw the enactment of the American Recovery and Reinvestment Act of 2009.