Posts Tagged ‘guidance’

DOL rescinds prior guidance on interns, adopts primary beneficiary test

On Friday, January 5, 2018, the Department of Labor rescinded prior agency guidance from 2010 regarding internship programs for “for-profit” employers. The prior guidance had been criticized by courts as “too rigid” and inconsistent with the Fair Labor Standards Act. The 2010 guidance required employers to apply a rigid six-factor test. Under the 2010 guidance,…

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401(k) Compliance and Enforcement Update

Brandon P. Long Judy Burdg Melissa J. Cottle Within the past year, the Internal Revenue Service and the U.S. Department of Labor have issued new guidance impacting 401(k) retirement plans. At the same time, new lawsuits have been filed against plan fiduciaries. The list of rules that plan administrators must keep track of is longer…

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