Regulatory and Legislative

Biden Vetoes Resolution Disapproving DOL ESG Rule

As expected, President Biden has vetoed H.J. 30, a resolution for congressional disapproval of the Department of Labor’s rule “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.” The resolution was passed by the House and Senate earlier this month. The final rule, which generally became effective January 30, 2023, will continue to stand as a result of the veto.

DOL Legislative updates

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available for Missouri, Oregon, Alaska

The Federal Emergency Management Agency issued a Major Disaster Declaration on January 1, 2025, for the following disasters for the period indicated.

Regulatory and Legislative

DOL Announces 2025 Inflation Adjustments for Civil Penalties

The Department of Labor has published in the Federal Register several inflation-adjusted penalty amounts for certain failures associated with qualified retirement plans.

Regulatory and Legislative

PBGC Announces 2025 Inflation Adjustments for Civil Penalties

The Pension Benefit Guaranty Corporation has published in the Federal Register inflation-adjusted penalty amounts for failure to provide certain notices or other material information and for failure to provide certain multiemployer notices.