Retirement Plan 401k Benefit Plan Sponsors

News & Analysis as of

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

Rosenbaum Law Firm Review - January 2015

In This Issue: - Stuff That Prospective 401(k) Plan Providers Tell You That's True - The Conduct Code for Retirement Plan Sponsors - Stuff That Won't Help A Retirement Plan Sponsor Limit Their...more

End of Year Tips for The 401(k) Plan Sponsor

With Thanksgiving done, we look to the holidays and the New Year. While many of us are busy shopping for loved ones, many businesses and individuals have their eye geared to- wards next year. As a retirement plan sponsor, you...more

The Rosenbaum Law Firm Review - December 2014

In This Issue: - Stuff That Prospective 401(k) Plan Providers Tell You That's True. - An Employer's "Recipe" for having a Great Retirement Plan. - Why An Employer Can And Should Set Up A Retirement Plan...more

Avoid the next big thing in 401(k) Litigation

ERISA litigators need to eat and once they exhausted much of the fee litigation prior to the implementation of fee disclosure, they needed something else to sink their teeth in. Then we got cases regarding using the wrong...more

Plan participation is up, but the problems remain

The percentage of workers who participate in a retirement plan increased in 2013 for the first time since 2010, according to a report by the nonpartisan Employee Benefit Research Institute. Participation rose to 40.8...more

Advisors Advantage - October 2014

Dumb Mistakes that 401(k) Financial Advisors Should Avoid - Stuff to think about. We all make mistakes, well except my mother. There are mistakes we make that we think are pretty good in hindsight, but end up...more

Lies That Prospective Retirement Plan Providers May Tell You

When we were children, our mothers told us stories that we believed to be true because we always believed what our parents were telling us was the truth. Part of growing up is realizing that a good chunk of what your mom told...more

Arrogance is a bad trait for a 401(k) plan decision maker

Regardless of the business you’re in, one of the worst thing you can do in being the decision maker for your retirement plan is that you know better than most retirement plan professionals. No plan sponsor likes to get...more

The Rosenbaum Law Firm Review

You Might Have a Problem With Your Retirement Plan When.... Things to look for. There are so many situations when you know you have a problem like when you forget to shut off the stove before you left home or when...more

Advisors Advantage - August 2014

Dealing with adversity. It's about how you deal with it. I'm a huge Aerosmith fan since high school and it's because the music resonates with me because it reminds me of the experiences that I have gone through...more

Mitigating Longevity Risk in DC Plans

401(k) participants face the risk of outliving retirement assets. However, earlier this month, the Internal Revenue Service and the Treasury Department issued final regulations that make it easier for 401(k) plans, individual...more

Fees are only part of a 401(k) Plan’s problem

10 years before I went on my own and started my own practice, I started The Rosenbaum Law Firm P.C. It was a side venture, kind of an attempt to see if I can start my own practice without actually having to leave my day job....more

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