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
This update is intended as a general overview, targeted specifically at claims officers and underwriters of insurers of professionals required to comply with the Future of Financial Advice (FOFA) reforms.
In 1994. H. Wayne Huzienga sold Blockbuster Video to Viacom for $8.4 billion. At its peak, there were 9,000 stores. Dish Network who bought Blockbuster a few years ago for $320 million, just announced the closing of the last...more
On July 22, the Department of Labor (DOL) issued Field Assistance Bulletin No. 2013-02 (FAB 2013-02) that extended the deadline for plan sponsors to provide 2013 annual participant fee disclosures by six months. ...more
The United States Department of Labor (DOL) recently issued guidance that gives administrators of defined contribution plans a one-time opportunity to reset their deadline for providing participants with the plan’s required...more
Earlier this month we reminded you that plan administrators of participant-directed ERISA defined contribution retirement plans (e.g., 401(k) plans, 403(b) plans, profit sharing plans and money purchase plans) had to...more
The U.S. Department of Labor (DOL) released Field Assistance Bulletin (FAB) 2013-02 on July 22, 2013, which provides plan administrators of individual account plans with participant-directed investments (such as 401(k) and...more
Guidance provides temporary relief from the August deadline for annual disclosures by participant-directed plans.
On July 22, the U.S. Department of Labor (DOL) issued Field Assistance Bulletin 2013-02 (the Bulletin),...more
On July 22, 2013, the U.S. Department of Labor (DOL) issued Field Assistance Bulletin Number 2013-02, which offers sponsors of ERISA-covered retirement plans temporary relief from the participant fee disclosure deadline...more
The Department of Labor has provided plan administrators with a one-time opportunity to delay annual distribution of investment information to retirement plan participants for up to 6 months in 2013 or 2014....more
As an ERISA attorney with a national practice of plan sponsor and retirement plan provider clients around the country (cheap plug here), I hear many excuses as to why plan sponsors don’t want to take a look at their...more
Topics we will cover:
• Issues with Control Groups
• Issues with Prohibited Transactions
• Fee Disclosure
- Excerpt from Who is in the Control Group?
• Aggregation Rules (Section...more
Firms that manage ERISA plan assets are subject to the US Department of Labor regulations on fee disclosures. In addition to the initial fee disclosure, these regulations require disclosure of changes to fee information...more
On March 21, 2013 the Ninth Circuit Court of Appeals issued its opinion in Tibble v. Edison International, in which the Court ruled that the plan fiduciaries of the Edison 401(k) Savings Plan (the “Plan”) had breached their...more
On December 20, 2012, President Obama signed into law H.R. 4367, eliminating the requirement that ATM operators post notice of a service fee on or at their ATM equipment, while retaining the requirement that a notice be...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
As we discussed in our previous Benefits eAuthority regarding the final rules on service provider fee disclosures, the U.S. Department of Labor (DOL) issued final regulations setting forth the fee disclosure obligations for...more