401k

News & Analysis as of

Avoid the next big thing in 401(k) Litigation

ERISA litigators need to eat and once they exhausted much of the fee litigation prior to the implementation of fee disclosure, they needed something else to sink their teeth in. Then we got cases regarding using the wrong...more

Advisor's Advantage - November 2014

In This Issue: - How A Plan Provider Can Lose Clients in 7 Easy Ways - Being a long term Plan Provider can be a bad thing too - Advisors should help grow Client's assets - Be accountable as a Plan...more

Qualified Plan Distributions: IRS Issues Guidance on Allocation of After-Tax and Pretax Amounts

Lack of clarity causes frustration. The topic of how to properly allocate the pretax and after-tax amounts attributable to distributions from qualified plan accounts that include Roth 401(a) accounts or after-tax accounts has...more

What Is the Difference Between a 401(k) and an IRA?

The terms 401(k) and individual retirement account (IRA) are bandied about quite a bit when discussing retirement planning, but what are the actual differences between the two? The main distinction is that a 401(k) -- named...more

Plan participation is up, but the problems remain

The percentage of workers who participate in a retirement plan increased in 2013 for the first time since 2010, according to a report by the nonpartisan Employee Benefit Research Institute. Participation rose to 40.8...more

Lights Out for a 401(k) Investment Fund? Don't Forget the Blackout Notice Rules.

One of your company’s 401(k) investment fund options is underperforming. Or, perhaps the fund is no longer appropriate for your employees. Or, perhaps a fund’s wildly successful fund manager has jumped ship to another fund...more

Impact of Supreme Court’s Recent Actions on Employee Benefits

Did the Supreme Court legalize same-sex marriage? On October 6, 2014, the Supreme Court of the United States denied review of seven petitions challenging federal court of appeal rulings in the Fourth, Seventh, and...more

2015 Cost-of-Living Adjustments for Retirement and Other Benefit Plans

Retirement Plan Limits - The following limits apply to retirement plans in 2015: - The limit on elective deferrals under 401(k) and 403(b) plans has increased to $18,000 in 2015. - The annual limit on...more

Tax Law Blog: 2015 Retirement Plan Limits Announced

Every year, about this time, the IRS calculates the cost of living increases, and determines whether the change is enough to trigger an adjustment to the statutory limit/threshold for various areas, including retirement...more

The 2015 Retirement Plan Limits are in

The Internal Revenue Service (IRS) announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. The elective deferral (contribution) limit...more

Advisors should help grow Client’s assets

If you are a financial advisor, more assets under management equal more money. So that means a financial advisor working in their 401(k) plan space should do their best to making sure that their Plans get bigger n the asset...more

Advisors Advantage - October 2014

Dumb Mistakes that 401(k) Financial Advisors Should Avoid - Stuff to think about. We all make mistakes, well except my mother. There are mistakes we make that we think are pretty good in hindsight, but end up...more

Inherited IRAs – The Golden Egg Loses Some of Its Sheen

The named beneficiary of an Individual Retirement Account (IRA) or Roth IRA inherits a golden egg —an asset with uniquely valuable characteristics. In June, however, the United States Supreme Court in Clark v. Rameker issued...more

Lies That Prospective Retirement Plan Providers May Tell You

When we were children, our mothers told us stories that we believed to be true because we always believed what our parents were telling us was the truth. Part of growing up is realizing that a good chunk of what your mom told...more

Some Limited Trouble with Tibble? – Supreme Court Agrees to Hear Excessive-Fee Case Involving 401(k) Plan

The U.S. Supreme Court granted certiorari on October 2, 2014 in the case of Tibble v. Edison International, for the narrow purpose of reviewing the holding by the Ninth Circuit Court of Appeals that the statute of limitations...more

Fourth Circuit Places Burden on Defendants to Disprove Loss Causation in Fiduciary Breach Cases

In Tatum v. RJR Pension Investment Committee, No. 13-1360 (August 4, 2014), a divided panel of the U.S. Court of Appeals for the Fourth Circuit held that, if the plaintiff in an ERISA fiduciary breach case proves that the...more

Third Circuit Affirms Dismissal of Excessive Fee Claims Against Insurer

The Third Circuit has affirmed dismissal of all claims against the insurer in a 401(k) excessive fee suit, rejecting arguments that the insurer is an ERISA fiduciary for its product's fees, even where the service provider has...more

The Rosenbaum Law Firm Review

Keep those Plan documents and amendments. You will always need them. Plan sponsors aren't the greatest keeper of plan records because as a plan fiduciary, they think they get too many reports, prospectuses,...more

ESOPs: The Tax Law Provides a Buyer for Your Business

As baby boomer business owners begin to retire, many will want to monetize the value they have created in their businesses. An employee stock ownership plan (ESOP) is one alternative. The ESOP alternative, authorized by the...more

Creating Sustainable Retirement Income in 401(k) plans Using Managed Risk Funds

Los Angeles partners Fred Reish and Bruce Ashton authored a White Paper titled, “Creating Sustainable Retirement Income in 401(k) plans Using Managed Risk Funds,” for Milliman, Inc. The White Paper discusses how 401...more

The ERISA Litigation Newsletter

Editor's Overview - As the summer draws to a close, no one would fault you if you missed the Fourth Circuit's decision in Tatum v. RJR Pension Investment Committee, which was published on August 4th. However, plan...more

Arrogance is a bad trait for a 401(k) plan decision maker

Regardless of the business you’re in, one of the worst thing you can do in being the decision maker for your retirement plan is that you know better than most retirement plan professionals. No plan sponsor likes to get...more

Where Oh Where Could They Be? Finding Missing Participants Under the New DOL Guidance

The U.S. Department of Labor (DOL) has issued updated guidance on locating missing participants in a terminated defined contribution plan. The guidance reflects the discontinuance of the IRS and SSA letter forwarding...more

The Rosenbaum Law Firm Review

You Might Have a Problem With Your Retirement Plan When.... Things to look for. There are so many situations when you know you have a problem like when you forget to shut off the stove before you left home or when...more

IRS Seeking Comments on Business Hardship Rules for Safe Harbor Defined Contribution Plans

The IRS is seeking comments on rules that permit sponsors of 401(k) plans to reduce or suspend safe harbor contributions in the middle of the plan year. As we wrote in a previous alert, under rules issued in November of 2013,...more

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