Which Canadian jurisdictions are examining Target Benefit Plans? An update from Ian McSweeney
Status of Target Benefit Plans in Quebec
BB&K's Isabel Safie Discusses the Implications of IRS’ Definition of Governmental Plan Status
Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more
I was never part of the in crowd. Look at my picture, could I ever be in the “in crowd”? I’m always the odd one out, that’s why I dressed up as the Rodney Dangerfield character, Al Czervik from Caddyshack on Halloween. While...more
Plan Sponsors' Misconceptions About Retirement Plan Fee Disclosure.
There are many.
To me, there is no greater television show than Seinfeld because it's timeless and there is something about each episode that...more
10 years before I went on my own and started my own practice, I started The Rosenbaum Law Firm P.C. It was a side venture, kind of an attempt to see if I can start my own practice without actually having to leave my day job....more
In Golden Star Inc. v. MassMutual Life Ins. Co., 2014 WL 2117511 (D. Mass. May 20, 2014), a district court addressed two issues that have become hotly contested in 401(k) plan fee litigation: (1) whether and when a plan...more
I talk to a lot of advisors and I have many advisor clients around the country and one of the things that I keep on hearing is that even with fee disclosure regulations almost 2 years later, it is still difficult to get...more
I’m a Howard Stern fan since I was about 11. I’m sorry if you’re offended, but I love that brand of humor. One of the main producers of funny materials are guys by the name of Sal & Richard. Aside from their phony calls, they...more
I have a client who had been undergoing a Department of Labor (DOL) audit. Their mistake? Years ago, a former participant asked for a distribution from this trustee directed profit sharing plan (so no 401(k)) and my client...more
There has been much confusion and concern about the interplay between the COBRA continuation coverage rules and the new Health Insurance Marketplace established under the Affordable Care Act (the “Marketplace”). One important...more
In the movie, No Country for Old Men, the hit man Anton Chigurh (played by Javier Bardem) confronts Carson Wells (who was also trying to recover the same money Chigurh was after) in his hotel room.
Executive Summary: Administrators or sponsors of employee benefit plans subject to ERISA generally must file information regarding each benefit plan every year. This information is filed using Form 5500. For calendar year...more
The term “deer in the headlights” explains the mental state of a person who shows behavioral signs that remind us of a deer subjected to a car’s headlights where the deer is in such panic that they show no motor reaction to...more
One of my favorite movies of all time is The Deer Hunter. It’s a story about the Vietnam War and the post-traumatic stress disorder a group of friends from Western Pennsylvania who were drafted together and fought alongside...more
When it comes to your role as a retirement plan sponsor, outside of hiring a TPA (third party administrator), the most important plan provider that you need to hire is a financial advisor. Unfortunately, like my favorite...more
I have been in the retirement plan business for over 15 years and I have met too many plan sponsors who don’t care that their plan isn’t being run correctly. What makes them eventually care is when they are audited by the...more
Future Threats That a 401(k) Plan Sponsor Should Be Aware Of.
What might be good today, may not be good tomorrow.
What was good yesterday might not be a good today. Asbestos was a great fireproof building...more
Although using the revenue generated by the Plan’s investment funds to pay investment, advisory or recordkeeping fees may seem at first a “no-brainer”, this decision requires financial analysis, assessment of fiduciary...more
The United States Supreme Court's landmark Windsor decision in June of this year invalidated certain key provisions of the Defense of Marriage Act by holding that the disparate tax treatment of validly married same sex...more
Unless they are involved in the retirement plan industry a plan sponsor must delegate much of their duties to retirement plan providers that may include third party administrators (TPAs), financial advisors, and ERISA...more
Editor's Overview -
Health care issues make the headlines once again in this month's ERISA Litigation Newsletter. Tzvia Feiertag first provides practical and timely tips for insured ERISA health plan sponsors on...more
On July 22, the Department of Labor (DOL) issued Field Assistance Bulletin No. 2013-02 (FAB 2013-02) that extended the deadline for plan sponsors to provide 2013 annual participant fee disclosures by six months. ...more
The United States Department of Labor (DOL) recently issued guidance that gives administrators of defined contribution plans a one-time opportunity to reset their deadline for providing participants with the plan’s required...more
Some mutual funds (and possibly other funds) that are made available by a 401k plan for investment by its participants may make payments to the plan's record-keeper (and perhaps other service providers) for certain services...more
Guidance provides temporary relief from the August deadline for annual disclosures by participant-directed plans.
On July 22, the U.S. Department of Labor (DOL) issued Field Assistance Bulletin 2013-02 (the Bulletin),...more
On July 22, 2013, the U.S. Department of Labor (DOL) issued Field Assistance Bulletin Number 2013-02, which offers sponsors of ERISA-covered retirement plans temporary relief from the participant fee disclosure deadline...more
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