Regulatory and Legislative

DOL Clarifies Cybersecurity Guidance

The Department of Labor has issued a compliance assistance release clarifying that cybersecurity guidance issued in April 2021 applies to all types of ERISA plans, including health and welfare plans and all employee pension benefit plans. The guidance package includes tips for hiring a service provider, cybersecurity program best practices, and online security tips.

DOL Defined Benefit Plan Defined Contribution Plan

Regulatory and Legislative

DOL Final Rule Updating VFCP Has Left OMB

Department of Labor guidance titled “Adoption of Amended and Restated Voluntary Fiduciary Correction Program” has left the Office of Management and Budget.

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available for North Dakota Wildfires and Straight-line Winds

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on December 24, 2024, for North Dakota.

Regulatory and Legislative

IRS Provides 2025 Covered Compensation Tables Used in DB Plans

The Internal Revenue Service issued Revenue Ruling 2025-2, containing the covered compensation tables for the 2025 plan year.