Benefit Plan Sponsors

News & Analysis as of

Same Sex Marriage: Effect on Benefits

The United States Supreme Court recently held in Obergefell v. Hodges http://www.supremecourt.gov/opinions/14pdf/14-556_3204.pdf that all states must recognize and allow marriages between same sex partners. Depending on an...more

US Supreme Court Rules in Favor of Same-Sex Marriage

Now that same-sex couples have the freedom to marry in every state, employers must consider whether plan amendments and administrative changes are necessary. On June 26, the US Supreme Court issued its landmark...more

Obergefell v. Hodges – Same-Sex Marriage Now Legal in All 50 States

In 2013, the Supreme Court, in United States v. Windsor, struck down Section 3 of the Defense of Marriage Act (“DOMA”) which defined marriage, for Federal purposes, as between one man and one woman. The Windsor ruling...more

U.S. Supreme Court Says “Regular Review” of ERISA Investments Required

ERISA plan fiduciaries charged with responsibility for selecting, monitoring or removing plan investment options should pay close attention to the U.S. Supreme Court’s recent ruling in Tibble v. Edison Intl., 135 S. Ct. 1823...more

Issue 93: Final Regulations Regarding SBC Requirements

This is the ninety-third issue in our series of alerts for employers on selected topics in health care reform. This series of Health Care Reform Management Alerts is designed to provide an in-depth analysis of certain aspects...more

U.S. Supreme Court Rules that States Must Permit and Recognize Same-Sex Marriage

On June 26th, the United States Supreme Court ruled in Obergefell v. Hodges that the Fourteenth Amendment of the United States Constitution requires every state to issue marriage licenses to same-sex couples. In a 5-4...more

The Rosenbaum Law Firm Review - July 2015

In This Issue: - Things in a 401(k) Plan That Don't Look Right. - Employer's Excuses About Their Retirement Plan And Why They're Wrong. - Small 401(k) Plans Have More Problems Than Larger Ones. - The One...more

Supreme Court Says Constitution Requires States to License Same-Sex Marriages

In another blockbuster 5-4 ruling authored by Justice Kennedy, in Obergefell v. Hodges, 576 U.S. ___. ____ (2015), the U.S. Supreme Court has held that the Fourteenth Amendment to the Constitution requires a state to license...more

Supreme Court Ruling on Marriage of Same-Sex Couples Has Employee Benefit Plan Implications

On Friday, the Supreme Court, overturning a Sixth Circuit Court of Appeals ruling, affirmed that the Constitution requires states to permit same-sex couples to marry and to recognize such marriages legally celebrated...more

IRS Updates Retirement Plan Correction Procedure (Part 2)

The IRS has provided significant administrative and monetary relief for plans correcting errors involving employee contributions. The changes to the IRS’s Employee Plans Compliance Resolutions System (EPCRS) are set forth in...more

The U.S. Supreme Court Finds a Constitutional Right to Same-Sex Marriage: Implications for Employee Benefit Plan Sponsors

On June 26, 2015, the U.S. Supreme Court issued a historic decision in Obergefell v. Hodges, holding that the Fourteenth Amendment’s Due Process and Equal Protection Clauses require states to allow same-sex marriage and to...more

U.S. Supreme Court Says Same-Sex Marriage Must Be Allowed Nationwide

One day before the end of its 2014-2015 term, the United States Supreme Court has issued the long-awaited decision regarding the nationwide recognition of same-sex marriage. There were two questions before the Court in...more

The skinny on narrow networks

The insurance exchanges created under Affordable Care Act have facilitated increased competition. Old version managed care models implemented cost-savings measures like pre-authorizations for medical care, hospital length of...more

Things in a 401(k) Plan That Don’t Look Right

They always say that you should never judge a book by its cover, but people do. People say you shouldn’t judge people by their appearance and they do. Just because something doesn’t look right, doesn’t mean it isn’t right....more

IRS Updates Retirement Plan Correction Procedure (Part 1)

The Internal Revenue Service (IRS) has revised its correction procedures to simplify correction of overpayments in defined benefit plans, make it cheaper to correct plan loan and minimum distribution errors, and provide more...more

Timing is everything

I was recently elected Vice President of my synagogue, Congregation B’nai Sholom-Beth David in Rockville Centre, Log Island. This isn’t a request for donations, yet. I was elected Vice President even though I have only been...more

Court Of Appeals Holds No ERISA Preemption Of Section 419(b)

The Ninth Circuit Court of Appeals’ recent holding in Sender v. Franklin Res., Inc., 2015 U.S. App. LEXIS 10113 (9th Cir. Cal. June 16, 2015) is reasonably clear and yet there is much about the case that puzzles...more

My Bias against self directed brokerage accounts in 401(k) plan

Just like the thought of traveling to Dubai with a passport that says “Ary Rosenbaum”, I have a general uneasy feeling about the use of self directed brokerage accounts within 401(k) plans. While it’s still allowed, I have...more

IRS, PBGC Issue Guidance on Multiemployer Plan Benefit Suspensions and Plan Partitions

Yesterday the Internal Revenue Service (IRS) and Pension Benefit Guaranty Corporation (PBGC) issued temporary, proposed and interim final regulations and a revenue procedure (collectively, the Guidance) under the...more

Employer’s Excuses About Their Retirement Plan And Why They’re Wrong

When dealing with my children and many adults, I hear many excuses why things don’t get done correctly. No one wants to accept re- sponsibility for their ineptness; they just cling to these excuses. Plan sponsors don’t have...more

ERISA Preemption Trumps State Insurance Law Yet Again: Ninth Circuit Declines to Apply California’s Insurance Notice-Prejudice...

In a recent decision, the Ninth Circuit Court of Appeals rejected a Plan participant’s attempt to extend California insurance law’s notice-prejudice rule to self-insured ERISA plans. Zagon v. Am. Airlines, Inc., 2015 BL...more

Sometimes it’s just words

So much of any industry is dedicated to marketing, because marketing can help a company sell a product or service just based on how it’s marketed. Whoever sold the pet rock is still probably laughing all the way to the...more

IRS Provides Helpful Updates to Retirement Plan Correction Program

The IRS has issued Revenue Procedures 2015-27 and 2015-28 (“Rev. Proc. 2015-27” and “Rev. Proc. 2015-28”), which modify the IRS’ retirement plan correction programs known as the Employee Plans Compliance Resolution System...more

DOL Report on Quality of Independent Plan Audits Shows that Plan Sponsors Must Continually Monitor Plan Compliance

The Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor (DOL) recently released “Assessing the Quality of Employee Benefit Plan Audits,” a comprehensive report reviewing the quality of audit work...more

Never let a client get that angry

Retirement plan providers can never be arrogant when it comes to the gripes raised by their clients. If clients have an issue with your service, you can’t discount because anger festers and boils over into an irreversible...more

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