News & Analysis as of

Benefit Plan Sponsors Risk Mitigation

Holland & Hart - The Benefits Dial

The Time Has Come, A Fact’s A Fact: Consider Adding a Welfare Plan Committee

The time may have come to add a welfare plan committee to your company’s governance of employee benefit plans. New legal obligations and other developments impose fiduciary risks for welfare plans similar to what already...more

Fisher Phillips

DOL Cybersecurity Guidance: Managing Risks to Employer-Sponsored Retirement Plans

Fisher Phillips on

The Government Accountability Office recently urged the U.S. Department of Labor to release guidance on cybersecurity matters in an effort to mitigate risks to 401(k) and other retirement plans. The GAO noted that there were...more

Morgan Lewis - Tech & Sourcing

DOL Issues Cybersecurity Guidance for Plan Sponsors, Plan Fiduciaries, Recordkeepers, Plan Participants – Part 2

Last week, we posted on the guidance issued by the US Department of Labor (DOL) for plan sponsors, plan fiduciaries, recordkeepers, and plan participants on cybersecurity best practices. Last week’s post focused on the...more

Foster Swift Collins & Smith

Department of Labor Releases Employee Benefits and Cybersecurity Best Practices

On April 14, 2021, the U.S. Department of Labor’s (“DOL’s”) Employee Benefits Security Administration (“EBSA”) issued its first cybersecurity best practices guidance for retirement plans. The EBSA guidance has been highly...more

Faegre Drinker Biddle & Reath LLP

Department of Labor Guidance Addresses Cybersecurity Risk Mitigation

On April 14, 2021, the Department of Labor (“DOL”) issued three documents that provide cybersecurity guidance for plan sponsors, fiduciaries, recordkeepers, and plan participants. Cybersecurity has become an increasingly...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - COVID-19 Edition - Employee Benefits Considerations When Conducting Furloughs and...

Williams Mullen on

On the latest episode of Williams Mullen's Benefits Companion, host Brydon DeWitt discusses the differences between furloughs and layoffs and how each can impact employee benefits, such as 401(k) plans and group health plans....more

McDermott Will & Emery

[Event] Pre-Conference Lunch & Learn At The ESOP Association’s 2019 Las Vegas Conference - November 13th, Las Vegas, NV

McDermott Will & Emery on

Mark your calendar and join fellow friends of employee ownership for a series of interactive discussions concerning key issues facing ESOP companies and professionals, as we lead up to The ESOP Association’s Conference. ...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - August 2019

Things That 401(k) Plan Sponsors Are Supposed To Do, But Aren't Doing Anyway. So many things they should be doing, but aren't. There are so many things in life that we're supposed to do, but we don't. Flossing teeth and...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Sometimes, it’s the luck of the draw

As an ERISA attorney for almost 21 years (my career can get its own drink), I have seen a lot of strange things that plan sponsors have done to risk the ire of the Internal Revenue Service (IRS) and the Department of Labor...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The problem with policies

Most 401(k) plans have an investment policy statement to serve as a blueprint on how and why investment options are selected and replaced in the plan....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Plan enrollment/education meetings are more than just an exercise

As a 401(k) plan sponsor, you need to understand that an integral part of limiting your liability when participants are having plan enrollment/education meetings....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - May 2019

For 401(k) Errors, It Seems To Be All Payroll These Days That is what it feels like. In the movie Fletch, Chevy Chase played Irwin R. Fletcher ("Fletch"), an undercover newspaper reporter under the byline "Jane Doe"....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Cut through the fiduciary advertising and make sure you get what you were promised

Advertising is a great medium and it’s a medium that could often be confusing to the consumer. So when it comes to the retirement plan business, you have providers providing fiduciary services whether that’s 3(16), 3(21),...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

To be safe, read those trust statements

In light of some troubling news that a third party administrator (TPA) was shut down by the Federal Bureau of Investigation (FBI) for possible theft of plan assets, there is one pro-active step you should take as a plan...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - November 2016

Things That Won't Help A Retirement Plan Sponsor Limit Their Liability. Yup, not going to help. When I was a teenager, we were told that eating oat bran would lower cholesterol and it didn't. We're told that...more

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