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
I was very lucky that when I started as an ERISA attorney in 1998, I worked as a staff attorney for third party administrators (TPAs) because it gave me insight and experience that I could never have gotten as an attorney...more
I was a fit at my old law firm sort of like how my son’s toddler clothes fit him at age 7. I wasn’t a good fit because I didn’t take myself too seriously, I tried to push for flat fee billing, and I tried to break down...more
The Issue: Companies often divide their workers into a variety of categories . . . agency employees, temporary employees, provisional employees, independent contractors, and so on. Unfortunately, many companies believe that...more
The U.S. Securities and Exchange Commission (SEC) recently amended the rules governing money market funds in an effort to increase the stability and liquidity of these funds in times of economic stress. Money market funds...more
In the Nelson Algren novel, A Walk on The Wild Side, there are 3 important rules of life to follow: “Never play cards with a man called Doc. Never eat at a place called Mom’s. Never sleep with a woman whose troubles are worse...more
Regardless of the business you’re in, one of the worst thing you can do in being the decision maker for your retirement plan is that you know better than most retirement plan professionals.
No plan sponsor likes to get...more
Starsky had Hutch, Cagney had Lacey, Fred had Ginger, Bogie had Bacall, Bonnie had Clyde, Bert had Ernie, Baskin had Robbins, and Sheriff Bart had the Waco Kid. Whether it's law enforcement, entertainment, or any type of...more
You Might Have a Problem With Your Retirement Plan When....
Things to look for.
There are so many situations when you know you have a problem like when you forget to shut off the stove before you left home or when...more
Retirement plan sponsors have a lot of headaches and liability because of their role as plan fiduciaries. They can sit back and do nothing, thereby increasing their potential liability. They can also be proactive and take...more
The administrative burden of determining the validity of rollover contributions to qualified retirement plans, and the associated risk of jeopardizing the plan’s tax-qualified status, traditionally has been a significant...more
Dealing with adversity.
It's about how you deal with it.
I'm a huge Aerosmith fan since high school and it's because the music resonates with me because it reminds me of the experiences that I have gone through...more
401(k) participants face the risk of outliving retirement assets. However, earlier this month, the Internal Revenue Service and the Treasury Department issued final regulations that make it easier for 401(k) plans, individual...more
Plan Sponsor Should Avoid These Retirement Plan Provider "Con Games".
Scams you should watch out for.
The George Clooney-Brad Pitt trilogy of heist films known as Ocean's Eleven, Ocean's Twelve, and Ocean's...more
The George Clooney-Brad Pitt trilogy of heist films known as Ocean’s Eleven, Ocean’s Twelve, and Ocean’s Thirteen were remembered for their twist endings, stylish pacing, and lightheartedness. Since the Ocean gang were...more
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
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
Animal Farm by George Orwell was a clever allegory of the Bolshevik Revolution and the Soviet Union where the oppressed animals overthrew Farmer Mr. Jones, only to start oppress- ing each other. A similar situation is when I...more
My great Uncle Jack Urbinder passed away a few weeks back at age 88. He was my Grand- mother’s only brother (out of 3) who survived the Holocaust. Much like my grandmother, Uncle Jack was genuine and he told it as he saw it....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
A major reason that employee benefits, such as employer- provided healthcare and retirement plans, exist is that they provide a tax-advantaged way for an employer to provide additional compensation to an employee, her spouse,...more
We live in politically charged times. Congress seems unable to reach a consensus on anything, including where to have the annual congressional Christmas ball! Years of political crossfire over the Affordable Care Act have...more
To me, there is no greater television show than Seinfeld because it’s timeless and there is something about each episode that reminds you of normal day life. In the reverse chronology episode set in India called “The...more
In 2006, the SEC adopted rules which created the Pension Benefits Table and Nonqualified Deferred Compensation Table to supplement the Summary Compensation Table. The tables mandate certain specific disclosures with respect...more
In December of 2013, the IRS released new final versions of the Form 5300 and the Form 5310, forms which are used by individually designed retirement plans to request a determination as to the plan’s tax qualification status....more
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