As we reported in the November 22 Benefits Byte, the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) recently issued final regulations addressing environmental, social and governance (ESG) investment standards for retirement plans.
WASHINGTON, DC – "At a time when trust in institutions is at historic lows, the American Benefits Council is proud of new polling data demonstrating that employers continue to be the most trusted source for voters' valued benefits," said American Benefits Council President James A. Klein today.
In a November 8 letter to congressional leadership, the American Benefits Council once again urged passage of bipartisan, bicameral retirement policy legislation before the end of the year. In light of the recent election results, there is still a reasonably good chance that a measure could be enacted as part of a year-end spending bill.
In an unusual step, the U.S. Department of Labor (DOL) has directly responded to a recent letter from employer and financial industry groups concerns with the agency's use of subpoena power to collect retirement plan participants' confidential, personally identifiable information (PII). In its reply, DOL affirmed its intention to continue collecting PII in its cybersecurity investigations.
The American Benefits Council recently provided comments on proposed regulations released by the U.S. Department of Health and Human Services (HHS) Office for Civil Rights (OCR) addressing the prohibition on discrimination in health programs and activities under Affordable Care Act (ACA) Section 1557.