At the end of March 2023, the Department of Labor (DOL) published its budget proposal for fiscal year 2024. Though met with little fanfare, the DOL is seeking close to $5 Million dollars and twelve full-time employees to...more
President Biden signed The Consolidated Appropriations Act, 2023 in late December 2022. The final bill included the SECURE 2.0 Act of 2022 (“SECURE 2.0”). As we reported in a prior article, SECURE 2.0 contains a host of...more
Last Friday Congress passed its year-end omnibus spending bill avoiding a wide-spread government shutdown. We expect President Biden to sign this bill any day. The final legislation includes the SECURE 2.0 Act of 2022...more
Businesses often consider how to reward and retain top talent and incentivize productivity without offering equity, an ownership interest in the business. An executive deferred compensation plan allows an employer to...more
Last year, Congress passed the Setting Every Community Up for Retirement Enhancement Act of 2019, often called the “SECURE Act”. One of the SECURE Act’s important provisions amended ERISA Section 105 to require sponsors of...more
Signed by President Trump on March 27, 2020, the CARES Act adds a few new tools to employers’ employee benefit arsenal. Many changes – such as the increase in plan loans limits and hardship distribution conditions – expand...more
For HR offices, December is typically a time to recover from open enrollment, tie up loose ends, and look forward to 2019. Lost in the busyness of the last few months may have been some retirement plan guidance from the...more
Until recently, the Carolinas were relatively immune to litigation surrounding alleged excessiveness of 401(k) plan fees. But last month in the U.S. District Court for the Western District of North Carolina, employees of...more
As we approach the end of the year, 2017 is turning out to be significant in the ever-evolving world of litigation over 401(k) plan fees. Since 2006, plaintiffs’ firms have brought hundreds of lawsuits across the country on...more
In a much-anticipated ruling, the U.S. Supreme Court ruled on June 5 that retirement plans maintained by church-affiliated organizations can be exempt from the Employee Retirement Income Security Act (ERISA), regardless of...more