Correcting Problems With Your Retirement Plan
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
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
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
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
Supreme Court: Plan Fiduciaries Have a Continuing Duty to Monitor Plan Investments. In 2007, participants and beneficiaries under a 401(k) plan sued the plan fiduciaries and the plan sponsor to recover damages for alleged...more
In This Issue:
- How Retirement Plan Advisors Can Benefit From Any New DOL Fiduciary Rule
- Avoid Other Providers Who Are The Sticks in the Wheels of Progress
- Sometimes It's Just Words
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
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
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
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
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
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
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
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
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
The Supreme Court holds that ERISA’s limitations period does not bar an alleged breach for failure to monitor a plan’s investments.
On May 18, the Supreme Court issued a unanimous decision in Tibble v....more
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
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
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
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
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
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
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
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
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
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