Workforce Bulletin

On March 30, 2026, the U.S. Department of Labor (“DOL”) proposed a new rule offering a safe harbor for fiduciaries under ERISA in connection with selecting designated investment alternatives for participant-directed defined contribution plans, such as 401(k) plans  (the “Proposed Rule”). The Proposed Rule implements Section 3(c) of President Trump’s Executive Order 143300, Democratizing Access to Alternative Assets for 401(k) Investors (such executive order, “EO 14330” was discussed in detail in a prior Epstein Becker Green Blog linked here).

“ERISA – you’ll need a lawyer for that.” Our practice group’s tagline is meant to be a shorthand for the alphabet soup of laws that apply to employee benefits, including the Employee Retirement Income Security Act (ERISA). Employee benefits compliance has many traps for the unwary and is ever evolving. Below, we have provided a primer on current issues of importance in the employee benefits area to help in-house attorneys identify potential risks, mitigate them, and know when to call an outside ERISA lawyer.

1. What Is Old Is New: Get Your Health Plan Governance in Order

Employers that sponsor self-funded health plans have a host of complicated obligations. There are greater potential legal, regulatory, and fiduciary risks than in years past with managing health plans because of increased congressional legislation, increased Department of Labor (DOL) focus on group health plan compliance, and increased group health plan litigation, often by the same plaintiffs’ firms that have been suing 401(k) plans in fee litigation the past 20 years or more.