News & Analysis as of

Benefit Plan Sponsors

IRS and DOL issue retirement plan relief for hurricane victims

by Dentons on

The Internal Revenue Service (IRS) has provided welcome relief to individuals affected by Hurricanes Harvey and Irma. The relief permits plan sponsors to temporarily relax restrictions on hardship withdrawals, participant...more

Pensions Round-Up - July/August 2017 (UK)

by DLA Piper on

Welcome to the latest edition of Pensions Round-Up which provides an overview of developments in pension legislation, case law and regulatory guidance. In this edition we look at key developments from the second half of July...more

Spring Cleaning Comes Early: The Affordable Care Act and the Importance of Updating ERISA Plan Documents

The year 1974 was a watershed for employee benefits. For the first time, the federal government undertook the complicated task of providing a statutory and regulatory framework for employee benefit plans and employee pension...more

[Event] 29th Annual Employee Benefits Seminar - September 28th, Dallas TX

by Locke Lord LLP on

Please join the Locke Lord Employee Benefits and Executive Compensation Group for our 29th Annual Employee Benefits Seminar. Our attorneys will provide an overview of current developments related to employee benefit plans....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

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

School Employee Who Resigned After Her Hospitalization Coverage Was Reduced Entitled To Unemployment Compensation

by Tucker Arensberg, P.C. on

Forbes Road School District V Unemployment Compensation Board of Review, Commonwealth Court of Pennsylvania, Case No. 1814 C.D. 2016 - Claimant was hired as a paraprofessional at $10.15 an hour. She completed health...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

Hurricane Hardship and Loan Relief Also Extended to Hurricane Irma, Pension Relief and a Cybersecurity Update

by Winstead PC on

The Internal Revenue Service (the “Service”) issued and announcement providing relief from verification of the qualification of an individual’s request for a hardship withdrawal or a loan in order for a person to obtain the...more

Help for Hurricane Harvey…and Irma Too

by Bryan Cave on

Employers seeking ways to help employees and their family members affected by Hurricanes Harvey or Irma should consider the various relief made available by the Internal Revenue Service under Announcements 2017-11 and 2017-13...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

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

DOL Proposes Rule to Extend Applicability Date of BIC and Other Exemptions

by Tucker Arensberg, P.C. on

The Department of Labor published a Proposed Rule to extend from January 1, 2018 to July 1, 2019, the applicability date of the Best Interest Contract (“BIC”) Exemption, the Class Exemption for Principal Transactions in...more

The Final Rule: DOL Proposes to Extend Transition Period until July 1, 2019, and Issues Additional Non-Enforcement Policy for...

By a notice published in the Federal Register on August 31, 2017, the Department of Labor proposed to extend from January 1, 2018, until July 1, 2019, the date for compliance with the full conditions in its new “investment...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

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

An Overview of Legal, Regulatory and Plan Design Considerations for States

by K&L Gates LLP on

Americans are facing a retirement crisis. The foundation for building a secure retirement — Social Security, employer-provided pensions, and personal savings — has been weakened because most private sector companies no longer...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

The Rosenbaum Law Firm Review - August 2017

by Ary Rosenbaum on

The Plan Providers That A 401(k) Plan Sponsor Needs. A list, all of them. When an employer decides to start a 401(k) plan, one of the biggest problems out there is that they don't know who they need. They know that...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

9th Circuit — ERISA: How “Wrap Documents” Can Satisfy ERISA Plan Requirements?

You already know that ERISA imposes on employers the duty to provide a written plan document, and a Summary Plan Description (SPD) which states key plan terms....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

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