The Third Circuit has affirmed dismissal of all claims against the insurer in a 401(k) excessive fee suit, rejecting arguments that the insurer is an ERISA fiduciary for its product's fees, even where the service provider has...more
Keep those Plan documents and amendments.
You will always need them.
Plan sponsors aren't the greatest keeper of plan records because as a plan fiduciary, they think they get too many reports, prospectuses,...more
As baby boomer business owners begin to retire, many will want to monetize the value they have created in their businesses. An employee stock ownership plan (ESOP) is one alternative. The ESOP alternative, authorized by the...more
Los Angeles partners Fred Reish and Bruce Ashton authored a White Paper titled, “Creating Sustainable Retirement Income in 401(k) plans Using Managed Risk Funds,” for Milliman, Inc.
The White Paper discusses how 401...more
Editor's Overview -
As the summer draws to a close, no one would fault you if you missed the Fourth Circuit's decision in Tatum v. RJR Pension Investment Committee, which was published on August 4th. However, plan...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
The U.S. Department of Labor (DOL) has issued updated guidance on locating missing participants in a terminated defined contribution plan. The guidance reflects the discontinuance of the IRS and SSA letter forwarding...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
The IRS is seeking comments on rules that permit sponsors of 401(k) plans to reduce or suspend safe harbor contributions in the middle of the plan year. As we wrote in a previous alert, under rules issued in November of 2013,...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
The U.S. Department of Labor recently released Field Assistance Bulletin 2014-01 (the “FAB”), which updates DOL’s guidance on locating missing participants when a defined contribution plan, such as a 401(k) plan, is...more
The U.S. Department of Labor (“DOL”) published a request for information (the “RFI”) regarding the use of brokerage windows, self-directed brokerage accounts, and similar arrangements (collectively referred to in this article...more
Same-Sex Spouses are Spouses for Qualified Plan Purposes -
On July 26, 2013, in United States v. Windsor, the United States Supreme Court held that the prohibition against recognizing a same-sex spouse as a spouse for...more
A request for information ("RFI") by the U.S. Department of Labor ("DOL") was published on August 21, 2014 regarding the use of so-called "brokerage windows" under retirement plans, such as many Section 401(k) plans, that...more
We are a nation of over abundance and we should be grateful for that. The problem is that over abundance can lead to a life of excess. We are often told that more is more and the problem is that there are many times where...more
“For Want of a Nail” is a proverbial rhyme that shows that the smallest of action can have huge consequences later down the line, just like a snowball effect “For want of a nail the shoe was lost. For want of a shoe the horse...more
Last week, in a complaint dated August 8, 2014, plaintiffs commenced a lawsuit in the US District Court for the Eastern District of Texas against Financial Engines, Inc. and Financial Engines Advisors L.L.C. asserting a...more
In the latest ruling in a long-running battle arising from company stock fund divestments, the U. S. Court of Appeals for the Fourth Circuit has underscored the importance of procedural prudence in the management of plan...more
I would say that if that if you ask a retirement plan expert for their opinion, 3,000 experts will yield 5,000 opinions. It’s great to be opinionated, but for the plan sponsor, it can be a bit confusing....more
In the Fifth Third Bancorp v. Dudenhoeffer decision issued June 25, 2014, the Supreme Court unanimously rejected the “Moench presumption”, a presumption of prudence for employer stock held in an ESOP or a 401(k) plan company...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
For the ESOP fiduciary of a publicly traded employer, the Supreme Court has made clear that non-public insider information is not required to be used in reaching a decision to buy, hold or sell employer securities....more
Senator Ron Wyden (D-OR) has been a strong advocate for comprehensive tax reform since he joined the Senate Finance Committee in 2005. During his tenure on the Committee, he has introduced a series of comprehensive tax reform...more
The following is a summary of the most important tax developments that have occurred in the past several months that may affect you, your family, your investments, and your livelihood. Please call us for more information...more
Back to Top