News & Analysis as of

401k Retirement Plan

Leveraging – A Hidden Advantage Of Roth 401(k) Accounts

by Fox Rothschild LLP on

There have been numerous articles published about the advantages of Roth IRAs and Roth 401(k) accounts. While no tax deduction is available for contributions to Roths, in general, distributions of both principal and earnings...more

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

Special Rules for Plans due to Hurricane Irma

by Robinson & Cole LLP on

On September 12, 2017, the Internal Revenue Service (IRS) issued Announcement 2017-13, which provides guidance on the ability of qualified plans to provide plan loans and hardship distributions to people in Florida affected...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

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

The Trouble With 401(k) Investment Policies

by SmithAmundsen LLC on

The most common area in which 401(k) plans are being scrutinized these days is in their selection and design of investment offerings. While participants often get to direct how their funds are invested, that direction is...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

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

Time to Prepare for the End of the Year - Part One

by Poyner Spruill LLP on

The end of the year is rapidly approaching! To avoid costly penalties that can arise from inadvertent errors in the year-end rush, plan sponsors should begin talking with their service providers now about what must be done by...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

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

IRS announces special relief to help victims of Hurricane Harvey

by McAfee & Taft on

Last week the IRS announced that 401(k) plans and certain similar employer-sponsored retirement plans can make loans and hardship distributions to help victims of Hurricane Harvey....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

IRS Allows Employees to Donate the Value of PTO for Hurricane Harvey Victims

by Seyfarth Shaw LLP on

Seyfarth Synopsis: The IRS has announced a program that allows employees to donate the value of their vacation, sick time, or other paid time off (“PTO”) for the relief of victims of Hurricane or Tropical Storm Harvey. ...more

IRS and DOL Provide Relief for Plan Sponsors and Participants Affected by Hurricane Harvey

by Seyfarth Shaw LLP on

The Internal Revenue Service (IRS) and Department of Labor (DOL) issued temporary relief on deadlines and procedural requirements applicable to employee benefit plans for employers impacted by Hurricane Harvey. ...more

IRS Allows Easier Access to Retirement Funds for Hurricane Harvey Victims

The IRS issued an announcement that may allow participants and beneficiaries of 401(k) plans or 403(b) plans that have been affected by Hurricane Harvey easier access to their retirement funds until January 31,...more

IRS Eases Rules for Plan Loans and Hardship Distributions After Hurricane Harvey

by Ballard Spahr LLP on

The IRS has released Announcement 2017-11 to provide relief to taxpayers from requirements for loans and hardship distributions for participants of qualified retirement plans who have been adversely affected by Hurricane...more

401(k) Plan Sponsor Steals Assets To Support Country Club Life

by Ary Rosenbaum on

One of my favorite lines from Seinfeld is when George Costanza gets a job where Elaine works at Pendant Publishing. He’s fired for having sex in the office with the cleaning woman. George pardons ignorance, asking whether it...more

Can Financial Institutions Use In-House Funds for Their Own Retirement Plans?

by Burns & Levinson LLP on

Financial institutions that sell mutual funds to the public often maintain 401(k) and other retirement plans for their own employees. In these plans, many financial institutions make their own mutual funds available to...more

Plan Design Consultants try to Kickstart 401(k) plans for employers

by Ary Rosenbaum on

My friends at Plan Design Consultants have created a new program called KIC(k)START, which is an approach for them to garner more plans and help out the advisors they work with....more

Back to School for ERISA Fiduciary Claims: How to Prepare for This Trend in University Litigation

In the past 10 years, there have been an increasing number of lawsuits asserting Employee Retirement Income Security Act of 1974 (ERISA) fiduciary claims. These have been accompanied by an increased focus by the Department of...more

The Department of Labor’s Fiduciary Rule – Three Issues for Retirement Plan Sponsors

by K&L Gates LLP on

The DOL’s fiduciary rule re-defines when a party is acting as a “fiduciary” under ERISA as a result of providing investment advice to a retirement plan and has the effect of greatly expanding the types of services that are...more

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