Retirement Plan 401k Benefit Plan Sponsors

News & Analysis as of

U.S. Supreme Court Says “Regular Review” of ERISA Investments Required

ERISA plan fiduciaries charged with responsibility for selecting, monitoring or removing plan investment options should pay close attention to the U.S. Supreme Court’s recent ruling in Tibble v. Edison Intl., 135 S. Ct. 1823...more

The Rosenbaum Law Firm Review - July 2015

In This Issue: - Things in a 401(k) Plan That Don't Look Right. - Employer's Excuses About Their Retirement Plan And Why They're Wrong. - Small 401(k) Plans Have More Problems Than Larger Ones. - The One...more

Things in a 401(k) Plan That Don’t Look Right

They always say that you should never judge a book by its cover, but people do. People say you shouldn’t judge people by their appearance and they do. Just because something doesn’t look right, doesn’t mean it isn’t right....more

Small 401(k) Plans Have More Problems Than Larger Ones

Bigger does not mean better, that’s what mom and pop stores say all the time. Sometimes they are right, sometimes they are wrong. When it comes to 401(k) plans, most people would assume that larger 401(k) plans would have...more

June and July 2015 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

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. To avoid such...more

Fiduciary Risks Involved in Transferring Assets from a Seller’s 401(k) Plan to the Buyer’s Plan

In many transactions, particularly those where the buyer is a portfolio company of a private equity fund, the buyer agrees to cause its 401(k) plan to accept a transfer of assets from the seller’s 401(k) plan. The asset...more

U.S. Department of Labor Re-Proposes Rules Governing the Definition of “Fiduciary”—Part 4: The Impact on 401(k) Plan Consultants...

This post highlights the significant impact the proposed regulations may have on advisers to mid-sized and small 401(k) retirement plans if adopted. Previously, Part 1, Part 2 and Part 3 of this series described the...more

The Rosenbaum Law Firm Review - June 2015

In This Issue: - Plan Sponsors Should Avoid The Dark Side of the Retirement Plan Business - It Takes Only One Retirement Plan Participant To Sink An Employer - A Plan Sponsor's Foolproof Way To Getting In...more

Concerns Mount over Department of Labor’s Proposed Fiduciary Rule

The Department of Labor (“DOL”) released a controversial proposed rule on April 20, 2015, that seeks to expand fiduciary duties in the context of retirement-investment advice. Specifically, the proposed rule would rework a...more

Tibble v. Edison International Decision Finds Ongoing Duty to Monitor Investments in 401(k) Plans

The Supreme Court holds that ERISA’s limitations period does not bar an alleged breach for failure to monitor a plan’s investments. Background - On May 18, the Supreme Court issued a unanimous decision in Tibble v....more

The One Mutual Fund Family Lineup

You must know about the shoemakers’ children and how they go barefoot and have no shoes. In the retirement plan industry, we have retirement plan providers and their employees’ retirement plan. I know, I have been there....more

Supreme Court Ruling Heightens Pressure on Fiduciaries to Monitor 401(k) Plan Investments

On May 18th, the U.S. Supreme Court unanimously held in Tibble et al. v. Edison International et al., No. 13-550 (S. Ct. May 18, 2015) that ordinary principles of trust law impose on ERISA fiduciaries a duty to continually...more

401(k) Fee Litigation to Increase Following Tibble Decision

As a result of the U.S. Supreme Court’s decision in Tibble v. Edison Int'l, it will now be easier for participants in 401(k) and other participant-directed plans to bring lawsuits challenging investment options added to the...more

Locke Lord QuickStudy: The Supreme Court Opines In Tibble v. Edison That The Duty to Monitor Investments Is Ongoing

In a highly anticipated decision, the United States Supreme Court recently held that a 401(k) fiduciary breach lawsuit may proceed even when the claim is based on an imprudent selection of investment funds that occurred more...more

Continuing Duty To Monitor? Yes. Scope of That Duty? Wait And See…

In a case we have blogged about before, the Supreme Court in Tibble v. Edison International unanimously has concluded that an ERISA fiduciary has a continuing duty to monitor investments made in an ERISA governed savings...more

Supreme Court: ERISA Imposes Continuing Fiduciary Duty to Monitor Plan Investment Options

Section 409 of ERISA imposes personal liability on a plan fiduciary to make good to the plan any losses resulting from the fiduciary’s breach of any duties imposed by Title I of that statute. Section 413 provides generally...more

Supreme Court Decides Tibble v. Edison International

On May 18, 2015, the United States Supreme Court decided Tibble v. Edison International, No. 13-550, holding that under the Employment Retirement Income Securities Act (ERISA), a plaintiff may timely commence a claim for...more

SCOTUS: Timeliness of Fiduciary Breach Claim May Depend on Alleged Failure to Monitor Selection of Investment Options

On May 18, 2015, the U.S. Supreme Court unanimously concluded that the timeliness of an Employee Retirement Income Security Act (ERISA) breach of fiduciary claim regarding the selection of investments in a 401(k) plan is not...more

Set it and Forget it? Not so Fast, Says the Supreme Court in Tibble

On May 18, 2015, the Supreme Court of the United States rendered a much anticipated (by ERISA attorneys, at least) decision in Tibble v. Edison International, clarifying a relatively narrow but still significant issue...more

ERISA Fiduciaries Must Continuously Monitor 401(k) Investment Choices

The U.S. Supreme Court has held unanimously that a plan fiduciary has a continuing duty to monitor investments offered under a 401(k) plan, a duty that is separate and apart from the duty to exercise prudence in selecting...more

Correcting Problems With Your Retirement Plan [Video]

Presented by Caryn McNeill, Craig Wheaton and Jamie Hinkle The rules that apply to qualified retirement plans are complex. Not surprisingly, plan sponsors determine with some regularity that their plans have a compliance...more

Retirement Plan Sponsors Need To Care About Plan Design

If you had your eyes set on a car and one model gave you 25 miles to the gallon and the other model gave you 45 with no difference in features or price, what would you choose? If you can find a coupon for items you were...more

Plan Sponsor Agrees to $62 Million Settlement in ERISA Case Challenging 401(k) Plan Fees

Lockheed Martin Corp. has settled the 401(k) excessive fee litigation pending against it in federal court in Illinois....more

DOL Provides Flexibility in Timing of Annual Participant Fee Disclosures for Retirement Plans That Provide for Participant...

On March 18, 2015, the Department of Labor (DOL) issued a direct final rule that revises the annual disclosure requirement in the participant-level fee disclosure regulations under ERISA Section 404(a). The guidance provides...more

DOL Gives Retirement Plan Sponsors of Participant Directed Retirement Plans Additional Time to Provide Employee Fee Disclosures

U.S. Department of Labor (DOL) regulations require 401(k) plan fiduciaries to provide plan participants with a detailed disclosure statement about the plan’s designated investment alternatives, prior to initial enrollment and...more

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