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1 month ago | 
lexology.com | Martin Hamilton |Adam Scoll |Jesse T. Foley
In late October 2024, the United States Court of Appeals for the Eleventh Circuit ruled in Romano v. Hancock Life Insurance Company, F.4th 729 (11th Cir. 2024) that certain foreign tax credits that were generated as a result of 401(k) plan investments in separate accounts owned by John Hancock Life Insurance Company (“JHLIC”) were not “plan assets” for purposes of the U.S. Employee Retirement Income Security Act of 1974, as amended (“ERISA”).
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Jul 29, 2024 | 
jdsupra.com | Adam Scoll
The Department of Labor (“DOL”) recently issued final rules (the “Final Rules”) which expanded what it means to provide fiduciary “investment advice” under ERISA and Section 4975 of the Code (discussed here). The Final Rules were set to become effective on September 23, 2024, but on July 25, 2024, a federal court in Texas stayed the effective date until further order of the Court (Fed’n of Americans for Consumer Choice Inc. v. Dep’t of Labor , E.D. Tex., No. 6:24-cv-00163, 7/25/24).
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Jul 26, 2024 | 
natlawreview.com | Adam Scoll
The Department of Labor (“DOL”) recently issued final rules (the “Final Rules”) which expanded what it means to provide fiduciary “investment advice” under ERISA and Section 4975 of the Code (discussed here). The Final Rules were set to become effective on September 23, 2024, but on July 25, 2024, a federal court in Texas stayed the effective date until further order of the Court (Fed’n of Americans for Consumer Choice Inc. v. Dep’t of Labor , E.D. Tex., No. 6:24-cv-00163, 7/25/24).
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Jun 7, 2024 | 
jdsupra.com | Adam Scoll
The DOL recently finalized amendments to the QPAM exemption that will considerably alter the exemption’s conditions effective as of June 17, 2024 (for a detailed summary of the changes, please see our post here).
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Jun 6, 2024 | 
lexology.com | Adam Scoll
The DOL recently finalized amendments to the QPAM exemption that will considerably alter the exemption’s conditions effective as of June 17, 2024 (for a detailed summary of the changes, please see our post here).
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May 2, 2024 | 
mondaq.com | Adam Scoll |Jennifer Rigterink
On April 23, 2024, the Department of Labor ("DOL")
issued final rules which expand what it means to
provide fiduciary "investment advice" under the Employee
Retirement Income Security Act of 1974, as amended
("ERISA") and Section 4975 of the Internal Revenue Code
of 1986, as amended (the "Code"). Though the final rules
broaden the definition of "investment advice," the
circumstances under which advice will be covered are narrower than
in the proposed rules released last year.
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Apr 25, 2024 | 
jdsupra.com | Jennifer Rigterink |Adam Scoll
On April 23, 2024, the Department of Labor (“DOL”) issued final rules which expand what it means to provide fiduciary “investment advice” under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”). Though the final rules broaden the definition of “investment advice,” the circumstances under which advice will be covered are narrower than in the proposed rules released last year.
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Apr 24, 2024 | 
natlawreview.com | Adam Scoll
On April 23, 2024, the Department of Labor (“DOL”) issued final rules which expand what it means to provide fiduciary “investment advice” under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”). Though the final rules broaden the definition of “investment advice,” the circumstances under which advice will be covered are narrower than in the proposed rules released last year.
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Apr 24, 2024 | 
lexblog.com | Adam Scoll |Jennifer Rigterink
Jennifer Rigterink is senior counsel in the Labor Department and a member of the Employee Benefits & Executive Compensation Group. Jennifer focuses on a diverse array of tax and ERISA issues impacting employee benefits. Her wide-ranging practice encompasses qualified retirement plans and non-qualified arrangements, health and welfare benefits, and fringe benefit programs.
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Apr 23, 2024 | 
mondaq.com | Ira G. Bogner |Adam Scoll |Jennifer Rigterink
On April 3, 2024, the U.S. Department of Labor (the
"DOL") published in the federal register a final amendment to Prohibited Transaction
Class Exemption 84-14 (the "QPAM Exemption") that makes
considerable changes to the exemption's conditions (the
"Final Amendment").
