401k

Labor Proposes Required Lifetime Income Estimates On 401(k) Benefit Statements

by Jeffrey P. Cairns | Leonard, Street and Deinard - Employee... on 5/23/2013

Congressional hearings on the status of the Social Security system and studies on workers’ retirement readiness have sparked interest in lifetime income solutions from defined contribution plans. ...more

401(k) Plans Are Just A Tool To Save, They’re Not Evil

by Ary Rosenbaum on 5/22/2013

Years ago B.K. (before kids), I took weekly golf lessons. While it never showed on the golf course, I was developing a nice game. I took lessons with a curmudgeon golf pro named Kenny and the lessons were at a golf store....more

Be Careful If ROBS Is Your Business Financing Strategy

by Angela Bohmann | Leonard, Street and Deinard - Employee... on 5/16/2013

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

President Obama’s Pension Cap: Who Would Really Be Affected?

by Carol Buckmann | Osler, Hoskin & Harcourt LLP on 5/8/2013

The President’s recent budget proposal would impose a new cap on tax-favored retirement benefits. Annual contributions and accruals under tax-favored plans are already limited, but this would be a complex new limit...more

“Stuff” Every 401(k) Plan Sponsor Must Keep

by Ary Rosenbaum on 5/7/2013

George Carlin said that all you need in life is a place for your stuff. Carlin said that all a house really is; is a place for your stuff. When it comes to being a retirement plan sponsor, retirement plan sponsors need a...more

How 401(k) Plan Sponsors Can Improve Their Odds In “The Retirement Gamble”

by Ary Rosenbaum on 5/3/2013

PBS’ Frontline had a scathing report on 401(k) plans called “The Retirement Gamble”. The Retirement Gamble had no roulette tables or free drinks; it was a rather sobering look at the troubles affecting 401(k) plan and...more

Say "Goodbye" to Your 401(K) Plan as You Know It?

by Baker, Donelson, Bearman, Caldwell &... on 4/24/2013

From time to time, we hear about threats to the Social Security System – even talk about eliminating it for younger workers. Some reports indicate that about half of Americans have less than $10,000 in savings, while other...more

How an Employer Can Improve Their 401(k) Plan At Little Or No Cost

by Ary Rosenbaum on 4/23/2013

Sometimes you can just rejuvenate something without have to replace it. A nice new tie can breathe life into an older suit. Instead of new kitchen cabinets, resurfacing is an option. Sanding and staining can add luster to a...more

Modification of Roth In-Plan Conversion Rules Provides Participants Greater Flexibility

by John Boyd, Deborah Bracy | BakerHostetler on 4/19/2013

Tucked in the provisions of the year-end financial cliff legislation (the "American Taxpayer Relief Act of 2012") was a provision which creates greater flexibility in the conversion of qualified plan dollars to tax-free...more

Are Your 401(k) Plan’s Target Date Funds On Target?

by Carol Buckmann | Osler, Hoskin & Harcourt LLP on 4/19/2013

Most 401(k) plans that have qualified default investment funds (QDIA’s) have chosen target date funds as their default investments. Target date funds change their mix of investments to become more conservative over time in...more

Why Retirement Plan Sponsors Need To Care About Plan Design

by Ary Rosenbaum on 4/16/2013

Would you leave money on the table for the government to take instead? Would you not maximize your retirement savings because your accountant or third party administrator (TPA) told you that you had to give the same amounts...more

Retirement Benefits And Divorce

by Bryan L. Salamone and Associates P.C. on 4/16/2013

For many couples, Pension plans, IRAs, 401ks and other retirement plans represent a significant portion of their net worth. These assets are addressed as marital property in divorce settlement agreements, to be divided...more

How "Normal" is Your 401(k) Plan?

by Baker, Donelson, Bearman, Caldwell &... on 4/12/2013

In March 2013, the Internal Revenue Service (IRS) completed a design and administration survey of 1,200 different 401(k) plans and issued a summary of its findings. The survey primarily focused on the 2006 to 2008 period and...more

The Worthlessness of The 401(k) Fiduciary Warranty

by Ary Rosenbaum on 4/9/2013

When it comes to selling products and services, marketing is everything. Marketing can help push a product or service into popularity, regardless of whether it’s good or not. Spuds MacKenzie was such great marketing; it made...more

The “Real” Role of a 401(k) Plan Financial Advisor

by Ary Rosenbaum on 4/3/2013

Over time, there are so many full time positions in the workforce that are as obsolete as the Atari 2600 in my garage. Many people remember the milkman or the diaper man who made deliveries or the woman who worked the...more

Monthly Benefits Update - March 2013

by Daniel R. Salemi | Franczek Radelet P.C. on 4/1/2013

Health Care Reform: Agencies Issue Proposed Regulations on 90-Day Waiting Period Limitation - On March 21, the IRS, DOL, and Department of Health and Human Services issued proposed regulations on the 90-day waiting...more

Ninth Circuit Rules on Breach of Fiduciary Duty Claim in Investment Options Case

by Anthony Cacace | Proskauer - ERISA Practice Center on 3/29/2013

In Tibble v. Edison Int’l, 10-cv-56406, 2013 WL 1174167 (9th Cir. Mar. 21, 2013), the Ninth Circuit Court of Appeals ruled that 401(k) plan fiduciaries breached their duty of prudence in selecting investment options for the...more

Long Time Separation Does Not Equal Divorce

by Angela Bohmann | Leonard, Street and Deinard - Employee... on 3/14/2013

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

Target Date Retirement Funds – Tips For Plan Fiduciaries

by Angela Bohmann | Leonard, Street and Deinard - Employee... on 3/7/2013

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

401(k) Plans—Potential Commodity Pool Issues in the United States

by Susan M. Camillo, Andrew L. Oringer, M. Holland West | Dechert LLP on 2/28/2013

Under the rules of the Commodity Futures Trading Commission (“CFTC”), certain collective investment vehicles and other entities that, directly or indirectly, invest in “commodity interests” may be “commodity pools” whose...more

The ERISA Litigation Newsletter - February 2013

by Anthony Cacace, Stacey Cerrone, Page W. Griffin, Jacklina Len, Kara L. Lincoln, Brian S. Neulander | Proskauer Rose LLP on 2/19/2013

In This Issue: - Editor's Overview - View from Proskauer: Are Your Conversations Privileged under ERISA? - Rulings, Filings, and Settlements of Interest ...more

Union Friendly - Using Collectively Bargained Pension Plans to Maximize Employee Benefit Plan Contributions for Closely Held...

by Gerald Nowotny on 2/13/2013

Overview - In Part I of this series, I discussed the benefits of collective bargaining agreements for small business owners and professional corporations for qualified retirement planning. The ability to unionize...more

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