
John Sullivan
Articles
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1 week ago |
napa-net.org | John Sullivan |Ted Godbout
The Employee Benefits Security Administration (EBSA) issued a release on Wednesday morning rescinding a 2022 compliance notification that previously discouraged fiduciaries from including cryptocurrency options in 401(k) retirement plans. The 2022 guidance directed plan fiduciaries to exercise “extreme care” before adding cryptocurrency to investment menus.
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2 months ago |
napa-net.org | John Sullivan |Ted Godbout
Rep. Lloyd Smucker, R-Pa., reintroduced the Retirement Savings for Americans Act (RSAA) on Monday, a bicameral, bipartisan bill that supporters said would give uncovered private-sector workers access to a federally run retirement plan. First introduced in December 2022 and then again in October 2023, the federal retirement plan would include a matching contribution for low- and middle-income workers, but only for those who participate in the plan.
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2 months ago |
napa-net.org | John Sullivan |Ted Godbout
In a letter to the newly installed Secretary of Labor, the chairman of the House Education and Workforce Committee called for the Secretary to “rescind or withdraw” the fiduciary rule finalized under the Biden administration.
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Jan 14, 2025 |
ntsa-net.org | John Sullivan
Kelsey Mayo has been named to serve as the American Retirement Association’s (ARA) Chief Regulatory Affairs Officer after having served as its long-time Director of Regulatory Affairs from the outside. Mayo will leave her role as the Lead Employee Benefits Partner at Poyner Spruill, LLP, a law firm based in North Carolina and will begin with the ARA on March 1. “Kelsey is both an outstanding ERISA attorney and a retirement policy leader,” ARA CEO Brian Graff said.
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Jan 14, 2025 |
napa-net.org | John Sullivan
The Department of Labor’s Employee Benefits Security Administration (EBSA) released its final rule on Tuesday morning regarding changes to its Voluntary Fiduciary Correction Program (VFCP). The DOL’s changes were initially proposed in November 2022. The VFCP allows fiduciaries to send certain administrative errors to DOL and receive a no-action letter. These include prohibited purchases and sales, improper loans, and late contributions.
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