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
How many times as a retirement plan provider that you contact a retirement plan that is paying too much money and getting too little back in plan services? If you’re a registered investment advisor offering 3(38) service and...more
A Practice or Policy without Clear Legislative Intent Does Not Create Implied Contractual Right to Retiree Health Benefits -
A federal appellate court has affirmed a U.S. District Court’s decision to grant Orange...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
401(k) Plan documents can read like Russian novels. They are often long and difficult to understand, so it’s no surprise that administrative errors in operating such plans happen frequently. Common errors include omitting or...more
When I was an associate at a semi-prestigious Long Island law firm, the goal was that I would start a national single employer retirement plan practice. I couldn’t have my articles published because the marketing department...more
The Plan Checklist That Every Retirement Plan Sponsor Needs.
Question that plan sponsors should have answers for.
While they don't have a book called Retirement Plan Sponsorship for Dummies, they should....more
Part I -
Scott Peck’s bestseller the Road less Traveled begins with the understatement of understatements – “Life is difficult”. Trouble in life comes from so many different directions. For the small...more
While they don’t have a book called Retirement Plan Sponsorship for Dummies, they should. So in the interim, here is a checklist that plan sponsors should review that can help them develop good practices and avoid unnecessary...more
Whoever said that there is no such thing as a dumb question obviously wasn’t in attendance at my Global History class in high school when someone asked whether it was true that if you take a picture of an Amish person, 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
What was good yesterday might not be a good today. Asbestos was a great fireproof building material until it was found to cause asbestosis and malignant mesothelioma Thalidomide was a great drug for morning sickness until it...more
2013 brought many changes to employee benefit plans, and several more are coming in 2014. Dinsmore’s Compensation and Benefits Group wants you to be prepared for year-end and upcoming changes. ...more
When my wife and I bought our house, there were quite a few things that the previous owner forgot to tell us such as the fact they never bothered to pull the pipes from the dental office run by a previous owner 20 years...more
I didn’t have such a wonderful time at law school because I felt the administration and much of the faculty weren’t honest when it came to the study of law and more importantly, our job opportunities. There was one law...more
Seven Deadly Sins Every Retirement Plan Provider Should Avoid.
Stuff plan providers should avoid.
The movie Seven taught me that the seven deadly sins are wrath, greed, sloth, pride, lust, envy, and gluttony. It...more
With the Holiday season about to start, we know that the end of the year will soon follow. While plan participants maybe more concerned about holiday shopping or the firm’s annual holiday party, it’s a great and necessary...more
Effective January 1, 2014, The dollar limitation that apply to qualified retirement and other benefits are as follows...
Please see full Chart below for more information....more
In what seems like a lifetime ago, the IRS provided eligible plan sponsors until December 31, 2009 to adopt a written plan under which they would maintain their existing Section 403(b) arrangements. A 403(b) plan is a...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
The focus of U.S. litigation challenging plan investments has been 401(k) plans, but that may be changing. Defined benefit plan sponsors may have felt that they were immune to these types of claims because the funding rules...more
Unlike other languages, English is full of deceptive words that entice people to purchase products and services they think they are getting when they are not. It happens a lot with food. Lemon flavored products have no lemons...more
George Carlin once said that the whole meaning of life is not dying, unfortunately, my favorite comedian died from a bad heart. As an ERISA attorney, I believe that the whole purpose of an employer starting and maintaining a...more
On August 29, 2013, the Internal Revenue Service (IRS) ruled that for federal tax purposes, spouse includes an individual who is legally married to a same-sex individual under state law. This Revenue Ruling 2013-17 has a...more
On June 26, 2013, in United States v. Windsor, 133 S. Ct. 2675 (2013), the United States Supreme Court ruled that Section 3 of the Defense of Marriage Act of 1996 (“DOMA”) violated the Fifth Amendment’s equal protection...more
When a company decides that they want to put a retirement plan in place, it’s almost like trying to buy a new car because there are so many choices to make. A company needs to look at several factors to determine what type of...more
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