News & Analysis as of

401k The United States Department of Labor

No Additional Delay on Effective Date of New Fiduciary Standards – DOL

This week, new U.S. Department of Labor Secretary Acosta announced that the final fiduciary regulations would go into effect on June 9, 2017. The Department also issued two pieces of guidance with regard to the regulations...more

Employee Benefits Developments - April 2017

by Hodgson Russ LLP on

Deadline to Provide QSEHRA Notice Suspended - IRS Notice 2017-20 - Citing the lack of published guidance, the Internal Revenue Service (IRS) suspended the employer advance notice requirement for qualified small...more

ERISA Newsletter - First Quarter 2017

by Proskauer Rose LLP on

After a brief hiatus, Proskauer's ERISA Newsletter is back with a brand new look. We hope you like it and find it is easier to navigate. In addition to implementing our new format, we have moved to a quarterly publication...more

DOL Proposes 60-Day Delay of Fiduciary Rule in Response to White House Directive

by McDermott Will & Emery on

The future of the fiduciary rule—originally set to be implemented this upcoming April—remains uncertain after the White House directed the United States Department of Labor (DOL) to reevaluate, defer implementation and...more

Employee Benefits Developments - February 2017

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of February 2017. March 31, 2020 Deadline for Amending 403(b) Plans - When the Internal Revenue Service...more

Advisors Advantage - February 2017

by Ary Rosenbaum on

Concepts That Retirement Plan Advisors Shouldn't Focus On. It would be a detriment to focus only on this stuff. Being a financial advisor isn't as easy as many people on the outside think. There are so many things you ...more

"Change in Administration Presents Opportunity to Revisit DOL Fiduciary Rule"

In 2016, regulatory developments introduced fundamental changes in the legal standards that govern the relationship of broker-dealers with their customers. Although the changes are not applicable until April 10, 2017, most in...more

Apples and Oranges: Rollovers, Qualified Plans, and The Best Interest Exemption

by Ary Rosenbaum on

One of the wrinkles of the new fiduciary rule is the requirement of a financial advisor who wants to solicit former plan participants for a rollover to review the costs involved with the plan to determine whether moving the...more

DOL puts out another Fiduciary FAQ

by Ary Rosenbaum on

With an April 2017 deadline fast approaching, the Department of Labor (DOL) issues another frequently asked questions (FAQs) concerning the fiduciary rule which is always nice to get their interpretations of the rules with...more

The Next Big Thing After The Fiduciary Rule? I have some guesses

by Ary Rosenbaum on

With the fiduciary rule coming down the pike in April, people ask me what the next big thing to shake up the retirement plan industry will be. I’m no soothsayer, but I think there will be a couple of areas that the Department...more

The U.S. Supreme Court And Workplace Class Actions

by Seyfarth Shaw LLP on

Seyfarth Synopsis: As profiled in our recent publication of the 13th Annual Workplace Class Action Litigation Report, the U.S. Supreme Court’s rulings have a profound impact on employers and the tools they may utilize to...more

Advisors Advantage - January 2017

by Ary Rosenbaum on

How An RIA Can Profit Off Of The New Fiduciary Rule. It's an opportunity. When it comes to an industry, change is often fraught with trepidation and fear. However, I always believe that change also brings...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The December 22 announcement that Deutsche Bank had settled with the DOJ over long-standing RMBS-related claims and investigations for a reported $7.2 billion prompted this Times long-read that traced the Icarus-like rise and...more

Best Practices for 401(k) Plan Administration Includes Using Forfeiture Accounts by Year-End

by Dickinson Wright on

Since at least 2010, the IRS has publicly stated that forfeitures must be used by the end of the plan year in which the forfeiture occurred, or as soon as possible thereafter. Some IRS pre-approved prototype or volume...more

Advisors Advantage - December 2016

by Ary Rosenbaum on

A "Crystal Ball" On Life After The New ERISA Fiduciary Rule. We can see the future if we look closely enough. The Department of Labor's (DOL) new fiduciary rule that is going to go in effect in April 2017 is going...more

The TPA Asset Based Fee is a dinosaur

by Ary Rosenbaum on

I have a good friend of mine that I’ve known for the last 18 years and he’s one of the most honest people in the 401(k) business and I love him even though he roots for the New York Islanders. He works for a third party...more

Employee Benefits Developments - November 2016

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of November, 2016. ACA Information Reporting – Bad News and Good News - First, the bad news: The 2016 final...more

Are HR employees ‘investment advisors’ under the DOL’s fiduciary rule?

by Thompson Coburn LLP on

In April 2016, the Department of Labor promulgated final regulations that fundamentally changed the ERISA fiduciary rules governing advisors to retirement income investors. Though the rule is final, the new provisions...more

Forfeitures can be a compliance headache

by Ary Rosenbaum on

Defined contribution plans such as 401(k) plans have a forfeiture provision if there are contribution in the plan that are not immediately vested. The problem with the forfeiture provision is that they are usually neglected...more

It's Time to Reassess Your Medicare Choices

Workers in some states will soon have another option to save for retirement. California is the latest state to pass a law that establishes state-run retirement plans for workers who do not have a plan through their employer....more

Mandatory Payroll Deduction Savings Programs Are on the Rise

by Littler on

According to the U.S. Department of Labor (DOL), one-third of American workers do not have the option to participate in a retirement savings plan through their employers. To help employees save for retirement, more states are...more

ERISA Fiduciary Issues for Plan Sponsors: What Do 401(k) Plan Fiduciaries Need to Know About Revenue Sharing?

by K&L Gates LLP on

Retirement plan revenue sharing has a bad reputation. Numerous lawsuits have been filed during the past year against employers that sponsor 401(k) plans alleging breach of fiduciary duty under the Employee Retirement Income...more

Financial Services Quarterly Report - Third Quarter 2016: The Evolving DOL Fiduciary Rule: Impact on Mutual Fund Distribution and...

by Dechert LLP on

The U.S. Department of Labor (DOL) issued the final version of its “fiduciary investment advice” regulation (Final Rule) on April 6, 2016, following a lengthy proposal and re-proposal process. Although the Final Rule reflects...more

How Secure is Your Retirement Plan?

by Robinson & Cole LLP on

Most employers are generally aware of their fiduciary status as a “plan sponsor” of an ERISA-governed retirement plan (e.g., 401(k) and 403(b) plans). In fact, the employer’s hiring of a service provider is in and of itself a...more

The ERISA Litigation Newsletter - September 2016

by Proskauer Rose LLP on

Editor's Overview - This month, we have re-published an interview of our colleague Seth Safra discussing the Department of Labor’s final regulation concerning fiduciaries and conflicts of interest. In this interview,...more

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