Angela Bohmann

Angela Bohmann

Stinson Leonard Street

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Latest Posts › 401k


A Summary Plan Description Can be a Plan Document

In a decision issued a couple of years ago, the United States Supreme Court held that a summary plan description that differed from the plan document could not be enforced as the plan document. The Court said that the summary...more

9/22/2015 - 401k Breach of Duty Employee Benefits Fiduciary Duty Plan Administrators Plan Documents Retirement Plan SCOTUS Summary Plan Description

Using Your IRA to Buy a Business: Still a Risky Strategy

I blogged in the past about decisions in which taxpayers have used assets in their IRA to finance a new business. This structure is sometimes known as a ROBS or rollover for business startups. In 2013, the tax court held that...more

6/16/2015 - 401k Business Development Employee Benefits IRA IRA Rollovers IRS Retirement Plan ROBS Startups Tax Court

Internet Posting of SPD is Insufficient

Employers know that they must prepare and distribute a summary plan description (SPD) for their ERISA benefit plans, including retirement benefits, health insurance, life insurance and disability insurance. Because of the...more

5/26/2015 - 401k Employee Benefits ERISA Health Insurance Life Insurance Popular Posting Requirements Retirement Plan Summary Plan Description

Government Publications On 401(k) Plans May Be Of Interest

The IRS and Department of Labor issue a number of publications on different topics, including 401(k) plans. The IRS has posted on its website a couple of jointly issued publications directed at small employers who sponsor or...more

5/1/2014 - 401k IRS

You Cannot Take The Embezzler’s 401(k) Plan Balance

Many employers know that with few exceptions a participant’s benefit in a tax qualified retirement plan is protected from the participant’s creditors. One exception is for court orders, known as qualified domestic relations...more

10/15/2013 - 401k Creditors Defined Contribution Plans Embezzlement Employee Benefits QDRO Retirement Plan Tax Qualified Retirement Plans

Be Careful If ROBS Is Your Business Financing Strategy

Various promoters have suggested to entrepreneurs that they use the assets in their 401(k) plans or IRAs to finance a new business. These programs are sometimes known by the acronym ROBS, or Rollovers as Business Start-ups....more

5/16/2013 - 401k IRA IRS ROBS

Long Time Separation Does Not Equal Divorce

Most employers know that a married participant in a qualified retirement plan must name a spouse as beneficiary for at least a portion of the benefit unless the spouse signs a notarized written consent or the spouse cannot be...more

3/14/2013 - 401k Divorce Separation

Target Date Retirement Funds – Tips For Plan Fiduciaries

Many plan sponsors have selected so-called “target date” funds as the default investment under the plan sponsor’s 401(k) or other qualified plan. A target date fund is one that includes investments in different asset classes...more

3/7/2013 - 401k Benefit Plan Sponsors Qualified Benefit Plans Retirement Plan

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