401k

News & Analysis as of

The ERISA Litigation Newsletter - August 2015

Editor's Overview - As the summer draws to a close, this month's Newsletter previews three cases that the U.S. Supreme Court already has agreed to hear that ought to be of particular interest to ERISA plan sponsors and...more

Falling Markets= Heat on 401(k) Plans

The market correction this week is going to do what all market corrections and crashes do, put a light and heat on the 401(k) industry. I’ve already seen articles calling the 401(k) a 101(k)....more

Domestic Partnership Agreements: Financial Disclosures and Privacy

To reduce risk of later attack on the domestic partnership agreement, domestic partners should make fair and reasonable financial disclosures to each other prior to signing the agreement. Each partner should disclose to the...more

Stating the obvious about Mutual Fund Company TPAs

David Letterman once joked that there was a graph in USA Today that showed that 3 out of 4 Americans made up 75% of the population. Stating the obvious can be a waste of time. Speaking of stating the obvious, a study in the...more

High Net Worth Family Tax Report, Vol. 10, No. 2

Borrowing Against Art Collections - Your art collection may not be as illiquid as you think. It is possible to raise cash by borrowing against works of art. Although some banks do not offer art-secured loans because of...more

DOL Hearings Debate “Fiduciary Duty” not “Suitability” Standard for Retirement Accounts

The U.S. Department of Labor (“DOL“) recently heard public comment to its proposed regulatory changes implementing a fiduciary duty on any individual receiving compensation for advice tailored to a plan sponsor, participant...more

IRS Reduces Cost to Fix Some Missed Deferral Errors

The Internal Revenue Service has issued new guidelines that should be advantageous for employers that sponsor 401(k) and 403(b) plans. The new rules reduce and, in some cases, completely eliminate the windfall in favor of...more

One-Time Anomaly Or Potential Turning Of The Tides? A Review Of The Supreme Court's 2014-2015 Term

In a marked departure from the overwhelming success employers experienced before the Supreme Court in recent years, the less successful recently wrapped 2014-2015 term could be an indication that the judicial tides may be...more

IRS Significantly Curtails Determination Letter Program for 401(k) and Other Tax-Qualified Retirement Plans

On July 21, 2015, the Internal Revenue Service (IRS) issued IRS Announcement 2015-19 stating that the determination letter program for individually designed tax-qualified retirement plans (plans that are not based on...more

2015 Mid-Year Securities Litigation and Enforcement Highlights

Welcome to the 2015 Mid-Year Report from the BakerHostetler Securities Litigation and Regulatory Enforcement Practice Team. The purpose is to provide a periodic survey, apart from our team Executive Alerts, on matters we...more

Advisors Advantage - August 2015

How Retirement Plan Providers Can Avoid Communication Problems. It's all about relationships and communication. Life is all about relationships, whether it's family, friends, or business. Whether it's starting a...more

No Damages Awarded for ERISA Plan Fund Mapping Claims

Mapping in a 401(k) plan occurs when an investment option is removed and the participant’s investment in that option is transferred to a different investment option (absent direction from the participant). On remand from the...more

What Does the Supreme Court's Same-Sex Marriage Ruling Mean for Employee Benefit Plans?

On June 26, 2015, the U.S. Supreme Court ruled in Obergefell v. Hodges that states must license and recognize a marriage between two people of the same sex. Despite being a landmark decision affecting same sex couples whose...more

Employee Benefits Developments - July 2015

Second Circuit Holds That Posthumous QDROs Are Valid. Yale-New Haven Hospital brought an action in federal court to resolve competing claims by a former spouse of a deceased participant and the deceased participant’s...more

Employee Benefits After Obergefell

In a historic decision, the United States Supreme Court in Obergefell v. Hodges recently held that the Fourteenth Amendment of the United States Constitution requires all jurisdictions in all fifty states to: (1) license a...more

Multiemployer Pension Plans - Withdrawal Liability is Mounting

There are approximately 1,400 multiemployer pension plans and nearly 10 percent are projected to become insolvent within the next 15 years. Plan insolvency will trigger a termination and the assessment of withdrawal...more

The Rosenbaum Law Firm Review - August 2015

Good Bets by a 401(k) Plan Sponsor to Avoid Liability. As close to a sure thing you'll get. I don't gamble because I don't like to lose and that's a big problem about gambling because people do lose. I stopped playing...more

Benefits Litigation Update – July 2015

Welcome to the new, rejuvenated version of the Benefits Litigation Update, which we bring you jointly with the law firm of Epstein Becker Green. Our goal is to provide a concise and, we hope, insightful glimpse into recent...more

Three Simple QDRO Tips to Make Your Agreements More Enforceable

The purpose of a settlement agreement is to resolve some or all of the outstanding issues in a pending case. In the divorce context, it is common for attorneys to use broad language in their agreements related to the...more

Major Changes in IRS Qualified Retirement Plan Determination Letter Procedure Announced

The Internal Revenue Service (IRS) has announced that, effective January 1, 2017, the existing procedure for issuance of favorable IRS determination letters for qualified pension, profit-sharing and 401(k) plans will be...more

Tips to Reduce Adverse Effects of DOL's New Independent Contractor Status - Employers Must Carefully Select Status with...

Administrator David Weil issued an Administrator's Interpretation (Interpretation) on July 15, 2015, on behalf of the United States Department of Labor (DOL) regarding the appropriate classification of workers as independent...more

Focus on Private Equity - July 2015

What Private Equity Funds Should Know About ERISA: Basics of ERISA Coverage - The Employee Retirement Income Security Act of 1974, as amended (ERISA) imposes numerous duties on fiduciaries holding employee benefit...more

Health and Welfare Benefits for Same-Sex Spouses after Obergefell: A New Mandate for Employers?

After last month’s decision by the U.S. Supreme Court in Obergefell v. Hodges, employee benefit plan sponsors may wonder whether Obergefell affirmatively imposes an obligation for employers to provide health, life,...more

For 401(k) plans, the best of times is now

I always tell this story because it’s funny: I went to a Jewish day school that didn’t provide lunch, so I had to brown bag it everyday. On one day, my mother forgot to put in my can of Coca Cola in the bag and instead put in...more

Reversing the Trend: Will Congress Act to Except College Tuition Payments from Clawback in Bankruptcy? - Congress Weighs...

A trend emerging in consumer bankruptcy cases around the U.S. is causing concern for many parents, students and undergraduate schools. As was reported by The Wall Street Journal in an article published on May 5, 2015, an...more

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