Angela Bohmann

Angela Bohmann

Stinson Leonard Street

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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

Are Top Hat Plans Entitled to a Discretionary Standard of Review?

Many years ago the Supreme Court decided that qualified retirement plans that gave their fiduciaries discretion to determine plan benefits were entitled to have their decisions, reviewed by a court under a generous “abuse of...more

5/26/2015 - Employee Benefits ERISA Fiduciary Duty Fiduciary Standard Plan Administrators Retirement Plan SCOTUS Severance Agreements Standard of Review

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

Another Way To Become Personally Liable To A Multiemployer Plan

I have blogged in the past about individuals and businesses that are not signatories to a collective bargaining agreement being found liable for withdrawal liability imposed by multiemployer pension plans (plans jointly...more

3/26/2014 - Breach of Duty Delinquent Contributions Employer Liability Issues ERISA Fiduciary Duty Multi-Employer Pensions Retirement Plan

Best To Save Plan Documents Until All Retirees And Beneficiaries Are Dead

As a result of industry consolidation over the years, employers can find themselves responsible for pension plans of companies long out of existence. A recent federal district court decision imposed a penalty of $4,470 on a...more

11/14/2013 - Beneficiaries Documentation Employee Benefits Employer Liability Issues Pensions Retirement Plan

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

Company Owners Can Be Personally Responsible For Contributions To Multiemployer Plans

I have blogged in the past about the reach of obligations to multiemployer plans and how other businesses owned by a participating employer can be held responsible for withdrawal liability based upon the common ownership. If...more

7/9/2013 - Business Ownership Commercial Bankruptcy Employer Contributions Liability Liability Insurance Multiemployer Plan Pensions Retirement Plan Withdrawal Liability

The Retirement Toolkit

My colleague Jeff Cairns recently blogged about a proposed regulation of the Department of Labor (DOL) that will require employers to include on plan statements estimates of the lifetime annuity amount that a participant’s...more

6/13/2013 - DOL Retirement Retirement Plan

Do Not Delay Getting Your QDRO

Employers know that benefits under a retirement plan can be split between a participant and a former spouse in the event of a divorce under the terms of a qualified domestic relations order (QDRO). A domestic relations order...more

5/1/2013 - Divorce Employee Benefits Multiemployer Plan Pensions QDRO Retirement Plan

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

Be Careful How You Word Your Claims Procedure

In a recent decision of the United States District Court for the Eastern District of Oklahoma, a retiree who had begun work as a union employee and who during his employment was promoted to a salaried position, sued his...more

12/26/2012 - Administrative Appeals Appeals ERISA Patent Exhaustion Pensions Retirement Plan Wages

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