fiduciary duty

PEPs Gaining Ground, But One Size May Not Fit All
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Investments, Plan Operations & AdminComments are off for this post
The Department of Labor (DOL) is asking for public input on how to support small businesses that want to adopt pooled employer plans (PEPs), a signal that regulators see these arrangements as one way to help close the coverage gap. PEPs have gained significant traction since they first became effective in 2021. PEPs expand on  Read More →
Protecting Benefit Plans from Cybersecurity Threats
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
Many plan sponsors focus on external cybersecurity threats, such as hackers attempting to breach their systems, but disgruntled employees can also pose a risk. Recently, the Department of Labor (DOL) extended the scope of its cybersecurity guidelines to include all Employee Retirement Income Security Act (ERISA) plans, which include retirement, health, and welfare programs. This  Read More →
The Challenges of ESG Investing
Team SummitEmployer Resource Center, Fiduciary Governance, Plan InvestmentsComments are off for this post
New proposed rules for ESG investing were published in 2021. In November of 2022, the Department of Labor issued final regulations. Over 200 comments were submitted regarding the proposed regulations, and the majority were favorable. The new rules largely follow the proposed rule but with a few significant changes. The rule follows an executive order  Read More →

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