United States: End Of Comment Period Nears For Proposed Changes To Payroll Cards

On December 23, 2014, the Consumer Financial Protection Bureau (CFPB) issued a Notice of Proposed Rulemaking(NPRM) that seeks to regulate a number of prepaid products under Regulation E (a federal banking regulation), including payroll cards.  While payroll cards already are subject to Regulation E, the NPRM would impose a number of new requirements on financial institutions that issue payroll cards, including requiring proposed disclosure forms that (1) advise employees that they do not need […]

By | March 17th, 2015 ||

United States: Understanding Bonds: What Do Your Plan Participants Know?

Bonds have a place in retirement plan portfolios. However, recent research suggests that many 401(k) plan participants may have some misperceptions about what that place is and how bonds perform under various market conditions. In view of this research, taking the pulse of your 401(k) participants might be a prudent thing to do.
What the Research Says
The research, from State Street Global Advisors’ (SSgA’s) latest defined contribution plan participant survey, shows that overall, most investors […]

By | March 17th, 2015 ||

United States: OFCCP Announces Webinar On The Implementation Of New LGBT Regulations

As regular readers of our blog are well-aware, on July 21, 2014, President Obama signed an Executive Order banning workplace discrimination against lesbian, gay, bisexual, and transgender (“LGBT”) workers of federal contractors. OFCCP regulations implementing the Executive Order will go into effect on April 8, 2015. Prior posts on both the Executive Order and the regulations can be found here and here.

OFCCP has taken several steps to help government contractors come into compliance with […]

By | March 16th, 2015 ||