On July 16, the ARA submitted comments to the Department of Labor (DOL) applauding their decision to expand the Abandoned Plan Program to provide for a more effective and efficient procedure for Chapter 7 trustees to terminate plans of bankrupt plan sponsors. While the ARA generally supports the requirements of the Rule, the ARA’s comments...
On June 17, the ARA submitted comments to the Department of Labor strongly encouraging the Department to continue its work modernizing the Retirement Savings Lost and Found. Specifically, the ARA asked the Department to provide a useful database with robust and accurate data that American workers can use to locate their retirement savings, noting that...
On May 22, the ARA submitted comments to the DOL encouraging them to simplify the reporting process so that it is less burdensome and expensive for the reporting parties. Specifically, these comments encourage reporting agencies to ensure that any reporting requirements are narrowly tailored to promote accurate reporting and generally limit the breadth of reporting...
On March 29, 2024, the American Retirement Association submitted a comment letter to the Department of Labor in support of announcing a delayed enforcement period and an interim “good faith” compliance period that would enable all service providers time to configure their systems and procedures to comply with the rule without unnecessarily delaying the implementation...
On October 10, 2023, the American Retirement Association wrote to the Department of Labor and answered questions relating to various provisions of the SECURE 2.0 Act that impact the reporting and disclosure framework of the Employee Retirement Income Security Act (ERISA). (more…)
On July 10, 2023, the American Retirement Association wrote to the Department of Labor on a matter before the ERISA Advisory Council regarding recordkeeping in the electronic age. (more…)
On April 17, 2023, the American Retirement Association wrote to the Department of Labor with eight recommendations to improve the Proposed Amended and Restated Voluntary Fiduciary Correction Program (VFCP). (more…)
On January 20, 2023, the American Retirement Association wrote to the Department of Labor to recommend further improvements to the Proposed Amended and Restated Voluntary Fiduciary Correction Program (VFCP). (more…)
On January 6, 2023, the American Retirement Association wrote to the Department of Labor to provide supplemental comments on the Proposed Amendment to Prohibited Transaction Class Exemption 84-14. (more…)
On October 11, 2022, the American Retirement Association wrote to the Department of Labor to provide recommendations to improve the Proposed Amendment to Prohibited Transaction Class Exemption 84-14. (more…)
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