News & Analysis as of

Retirement Plan

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The thing about experience

Manute Bol and Gheorghe Mureșan were 7’6” and 7’7”, but were pretty bad players in the NBA. It takes more than height to play basketball....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The affiliated service group issue

I own a piece of a business and provide services to it, through my sole proprietorship. Pretty much all of that business for the sole proprietorship is performing services for that business I own a piece of....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Surely, You Have To Do These Things As A Retirement Plan Sponsor

Since I first saw Airplane! When I was 9, it was my favorite movie. I didn’t understand all the jokes at first, but my love for the film has only increased over time. The beauty of the movie is that it’s played as a straight...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Forfeitures cases will continue until they get thrown out

Federal court cases are a game, like chess. You file a complaint, you fight the inevitable motion to dismiss, and once you survive that, you either settle or take the chances with the case and see if the defendants settle...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

State mandates will spur private plans

I don’t need studies to tell me that States with mandated SIMPLE IRA programs for employers who don’t have a plan will spur the adoption of private retirement plans. There is no crowd in effect, the fact is that people are...more

Kelley Drye & Warren LLP

Colgate-Palmolive 401(k) Theft Case Settles on Undisclosed Terms, Leaving Open Questions

Many who work with defined contribution plan administrators and consult plan sponsors on their ERISA fiduciary duties have been carefully monitoring Disberry v. Employee Relations Committee of the Colgate-Palmolive Company...more

Husch Blackwell LLP

Planning for Retirement Benefits Post-Secure Act

Husch Blackwell LLP on

On July 18, 2024, the Internal Revenue Service (IRS) issued final regulations updating the required minimum distribution (RMD) rules. The final regulations reflect changes made by the Setting Every Community Up for Retirement...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

If you’re consistently losing clients, you should look in the mirror

There is always that line that you’re hired to be fired. No matter how great you are as a plan provider, you will certainly get fired by a client if you haven’t already....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

You should have the plan and valuation at your finger tips

I’m old enough to remember when they would do ads for the Yellow Pages and they told you should let your finger do the walking....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Supreme Court to Determine Whether Retirees Can Claim Disability Discrimination in Benefits

The Supreme Court of the United States has agreed to hear a case that will decide whether retirees can sue for disability discrimination because of changes to retiree benefit plans....more

Tannenbaum Helpern Syracuse & Hirschtritt LLP

New Jersey Employers Must Act Soon: Are you Ready for RetireReady NJ?

Most employers with at least 25 employees in New Jersey that do not already offer a qualified retirement plan must soon take action to enroll their employees in the state’s “RetireReady NJ” retirement savings program. This...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (48): Recommendations to Transfer IRAs (DOL)

The stay of the effective dates of the amended fiduciary regulation and amended exemptions means that the “old” DOL fiduciary regulation (the 5-part test) and the existing exemptions continue in effect indefinitely....more

Verrill

A Brief Guide to Qualified Disclaimers for Retirement Plan Administrators

Verrill on

A “qualified disclaimer” is a tax-effective way to refuse a transfer of property that would otherwise occur on someone’s death. From time to time, retirement plan administrators may be contacted by a beneficiary who wants a...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The end of forfeitures to reduce contributions is inevitable

Recently had a client going through an Internal Revenue Service (IRS) audit and while talking to an agent, they didn’t disagree with my theory that the idea of being able to reduce employer contributions through forfeitures...more

Proskauer - Labor Relations Update

President Biden Signs Executive Order Directing Agencies to Prioritize Pro-Union and Union Neutrality Policies

On September 6, 2024, President Biden signed an Executive Order on Investing in America and Investing in American Workers (the “Order”), that, among other things, aims to provide “incentives for federally assisted projects...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Predictions In The 401(k) Space

Whether it’s a presentation or an article, predictions over the fu- ture don’t usually add up. Sure, then the 1964 World’s Fair predicted video phone calls, we all still don’t have our jet- packs, and an article on the Mets...more

McDermott Will & Emery

Weekly IRS Roundup September 2 – September 6, 2024

McDermott Will & Emery on

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 2, 2024 – September 6, 2024. September 2, 2024: The IRS released Internal Revenue Bulletin...more

Morgan Lewis - ML Benefits

DOL Reiterates Its Focus on Cybersecurity with Updated Guidance

The US Department of Labor (DOL) issued a press release on September 6, 2024 reminding ERISA plan fiduciaries that it considers cybersecurity to be an area of “great concern” and emphasizing that it continues to investigate...more

Faegre Drinker Biddle & Reath LLP

Rollover Recommendations: PTE 2020-02 Compliance Considerations Following the DOL Fiduciary Rule Stay

The effective date of the DOL’s new expansive fiduciary rule and the amendments to Prohibited Transaction Exemption (PTE) 2020-02 has been stayed pending the outcome of the lawsuits challenging the rule and the amended PTE....more

Troutman Pepper

9th Circ. Clarifies ERISA Preemption for Healthcare Industry

Troutman Pepper on

On May 31, the U.S. Court of Appeals for the Ninth Circuit published an opinion in Bristol SL Holdings Inc. v. Cigna Health and Life Insurance Co., which has significant implications for the healthcare industry. Originally...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Lincoln to offer lifetime income solutions

Lincoln Financial Group announced the addition to its in-plan guaranteed income investment offerings for defined contribution retirement plans....more

Carlton Fields

Second Circuit Rejects Enforcement of Class Waiver and Arbitration Agreement Under FAA, Finds That Provisions Impermissibly...

Carlton Fields on

The plaintiff sued the trustee of his retirement plan, his former employer, and others for breach of fiduciary duties in connection with the plan’s purchase of shares of the employer’s parent company for more than fair market...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Prime Pension expands with another TPA purchase

Third Party Administrator Prime Pensions Inc. has purchased third-party administrator Valley Forge Pension Management....more

Holland & Hart - The Benefits Dial

Both Sides Now… Must Be Alert to Cybersecurity

by Becky Achten New guidance from the Employee Benefits Security Administration (EBSA) affirms that both sides—retirement plans and welfare plans—must take steps to secure participant data from cybercrime. In 2021 the...more

Morgan Lewis - ML Benefits

DOL QPAM Notification Deadline of September 15 Fast Approaching

The amendments to the QPAM Exemption include a September 15, 2024 notification deadline that will apply to many asset managers. This blog post includes a brief summary of the US Department of Labor’s (DOL’s) recent technical...more

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