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Labor & Employment Finance & Banking Securities

Read need-to-know updates, commentary, and analysis on Labor & Employment issues written by leading professionals.

Stating The Obvious On Fees

by Ary Rosenbaum on

The 401k Averages Book is one of the great publications in the retirement plan business and I recommend it. I won’t recommend a report they just did because it was stating the obvious....more

The Trump threat to 401(k) and the reality of it

by Ary Rosenbaum on

When Donald Trump was elected President last November, there were quite a few people who promised gloom and doom as if it was the end of our republic. Despite the tweets and the drama, that really hasn’t panned out yet. Many...more

Get rid of the bad decision makers

by Ary Rosenbaum on

I was a Vice President of a synagogue once and the biggest problem I had is that the people who had a greater say that I did were the same people who turned a synagogue from 750 member families to 300. They were ineffective...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Fed’s Open Markets Committee will wrap up meetings tomorrow, and it’s expected [markets be ready] to avoid a rate hike but reveal the beginning of a measured shrinking of the Fed’s $4.2 trillion mortgage/Treasury bond...more

SuperVision - Labor & Employment Law Insights - September 2017

...This issue of SuperVision is dedicated to questions our friends and clients may have regarding insurance and benefit topics. While not a common part of the Labor & Employment field, Spilman prides itself on having...more

If it bleeds, it leads. If it’s thrown out, forget about it.

by Ary Rosenbaum on

I serve as the attorney for a registered investment advisor out on Long Island and they forwarded me an email from a plan sponsor regarding a news article from last year of a potential class action lawsuit against a...more

401(k)/403(b) Loan Borrowers – Check Your Paystubs!

by Foley & Lardner LLP on

A recent tax court case, Louelia Salomon Frias, v. Commissioner, TC Memo 2017-139, illustrates why it is good practice to verify that employee loan repayments have been timely deducted. Plan Loan Requirements. An employer...more

Edison must pay in long running Tibble lawsuit

by Ary Rosenbaum on

A federal court ruled that Edison International must pay more than $7.5 million to compensate plan participants for its decision to include high-fee retail share mutual funds in its 401(k) plan when identical institutional...more

Retirement Plan and Leave Donation Programs During States of Emergencies

by Carlton Fields on

This article should interest employers offering retirement plan benefits or leave donation programs to employees affected by Hurricanes Harvey and Irma, in particular, and in various states of emergencies, in general. It...more

Supreme Court to Decide Whether Covered Class Actions May Be Litigated in State Court

As the beginning of the next US Supreme Court term nears, one case in particular has caught our attention, as the question presented asks whether state courts have jurisdiction over certain securities class actions. The case...more

Internal Revenue Service Provides Helpful Relief to Hurricane Victims

Announcement 2017-11 (Announcement) provides that a tax-qualified employer retirement plan may treat a distribution to a current or former employee covered by the Announcement as on account of hardship or an unforeseeable...more

IRS Issues Hurricane Harvey Relief

by Snell & Wilmer on

In Announcement 2017-11, the IRS relaxed standards for hardship distributions and loans from qualified retirement plans for those affected by Hurricane Harvey. This relief applies to employees or former employees and their...more

DOL Kicks The Fiduciary Rule Further Down The Road

by Ary Rosenbaum on

The Fiduciary Rule is like a bad soap opera where the action takes too long to happen and it’s just stretched out over time making small turns with some end game to happen later down the line....more

Hurricane Harvey Relief for Employees

by Bracewell LLP on

Following Hurricane Harvey and its resulting destruction, many employees are in need of financial assistance and/or early access to retirement funds. We will highlight how employers can make direct financial assistance...more

Funds Talk: September 2017 - Fiduciary Rule Update – September 2017

The long-anticipated and often-delayed new fiduciary rule under the Employee Retirement Income Security Act of 1974, as amended (ERISA) finally went into effect on June 9, with transition relief blunting its impact until...more

Advisors Advantage - September 2017

by Ary Rosenbaum on

Avoid Mistakes Other Plan Providers Make. Learn from the mistakes of others. Being a retirement plan provider is tough. I know because as an ERISA attorney, I am one and I play on TV. There are many mistakes to be made...more

Troubling Court Decision Sends Withdrawal Liability Warning To Employers

by Fisher Phillips on

A federal appeals court has handed multiemployer pension plans a blank check to assess increased withdrawal liability against employers exiting a plan. The 11th Circuit Court of Appeals’ recent decision in Westrock RKT...more

DOL and IRS Issue Guidance for Employee Benefit Plans Impacted by Hurricane Harvey

In the wake of massive floods caused by Hurricane Harvey, the Department of Labor (DOL), Internal Revenue Service (IRS), and Pension Benefit Guaranty Corporation (PBGC) have issued initial employee benefit plan guidance. The...more

Stick to a plan that will work

by Ary Rosenbaum on

When I first started out, I worked as an attorney affiliated with a third party administration (TPA). The problem with this TPA that it had 4 main partners and two other employees who had small ownership interests; it was a...more

IRS Provides for Expedited Loans and Hardship Distributions from Retirement Plans

by Jackson Walker on

The IRS announced last week that it will allow victims of Hurricane Harvey and their families to more easily access assets held in employer-sponsored retirement plans. Specifically, the IRS will allow certain retirement plans...more

The trouble with any new 401(k) product

by Ary Rosenbaum on

When Honda unveiled the 1986 line of Acura cars, it was one of the first entrances of the Japanese Auto industry into the luxury part of the market. While the cars were impressive, they were initially beset by factory...more

Department of Labor Proposes 18-Month Delay in Applicability Date for Portions of Fiduciary Rule

by Ropes & Gray LLP on

On August 31, 2017, the U.S. Department of Labor (the “DOL”) published proposed amendments to the Best Interest Contract Exemption and other exemptions that would delay the applicability date of many of the requirements for...more

If You’re A Plan Sponsor, A Scanner Can Be A Good Friend

by Ary Rosenbaum on

Being a plan sponsor is a tough job and the amount of paperwork that goes with it can be overwhelming. The paperwork includes plan documents, summary plan descriptions, amendment, valuations, trusts statements, and payroll....more

DOL Announces New Enforcement Policy on BIC Arbitration Limitation Class Actions

by Carlton Fields on

In order for fiduciaries to receive compensation that varies based on their investment advice (e.g., commissions) or from third parties in connection with their advice (e.g., revenue sharing), they must comply with a...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

As the scandal grows, WF’s newish CEO, Timothy Sloan, faces the unfortunate reality of being a company man (30-years at Wells) when the foundations of that company are cracking....more

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