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eRISA Update (Quarterly Current Developments Service)

eRISA Update is an electronic current developments service, providing comprehensive summaries of the important developments in the retirmeent plan area.

Below is a description of the latest issue (Issue #75; Summer 2021)

In the latest issue of eRISA Update, we provide summaries of: (1) a further extension of the physical presence relief for spousal consent to participant elections, (2) the latest update by the IRS of its Operational Compliance List, (3) informal IRS guidelines on how the partial termination relief works under section 209 of the Taxpayer Certainty and Disaster Tax Relief Act of 2020, (4) FAQs and retirement investor information from the DOL to facilitate the launch of PTE 2020-02 for investment advice fiduciaries, (5) a DOL opinion on a claimant’s right to obtain audio recordings and transcripts of conversations, (6) DOL’s extension of its comment period to modify certain class exemptions to conform to requirements under the Dodd-Frank Act, (7) the DOL’s withdrawal of the independent contractor regulations that had been issued on January 7, 2021, (8) a Fourth Circuit case on whether an insurer was a functional fiduciary because of certain billing practices, (9) fiduciary breach cases from the Ninth and Tenth Circuits, one regarding whether a named fiduciary can be liable for nonfiduciary actions taken by a service provider (Ninth Circuit), and the other regarding the failure of a fiduciary to monitor recordkeeping fees, (10) another employer securities case, this one from the Ninth Circuit, failing to meet the Dudenhoeffer pleading standards, (11) limitations adopted by the Ninth Circuit on equitable estoppel against a plan, (12) an Eighth Circuit case on regulatory application of the definition of “educational organization” to the debt-financed property exception under IRC §514(c)(9)(A) for qualified organizations, (13) a Ninth Circuit case ruling that ERISA does not preempt the CalSavers program, (14) a D.C. Circuit case upholding a PBGC regulation that allowed the PBGC to deny a lump sum payment with respect to pre-NOIT distributions, and (15) an update of the regulatory table listing regulations affected by Executive Order 13990.

Order information. To order eRISA Update, click here and follow the instructions to print out an order form. You also may order the latest issue for $125 by completing Part 1 of the newsletter order form, print out the order form and then: (1) fax it (303-265-9100) (only if paying by credit card), or (2) mail your order to the TRI Pension Services address shown above (either with check enclosed or credit card information provided on the order form).


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