News & Analysis as of

Retirement Plan 401k Employee Retirement Income Security Act

ERISA 404(c) lineup are a much bigger headache

by Ary Rosenbaum on

When I first started in the business in 1998, daily valued, participant 401(k) plans were starting to become a big deal because the technology caught up with the idea of plan participants directed investments and that their...more

401(k) Plan Sponsor ERISA Fiduciary Litigation Update: Sequoia Fund Litigation

by K&L Gates LLP on

While much of the 401(k) fiduciary litigation in recent years has focused on investment and recordkeeping expenses, a large number of claims filed against 401(k) fiduciaries have alleged that fiduciaries simply made a bad...more

Is Your Advisor Knowledgeable About Investments, or Just a 401(k) Wonk?

by Saul Ewing LLP on

I recently had a conversation with Lee Lyon of Lyon Investment Services, based in Jacksonville, Florida. Lee’s office is near downtown Jacksonville in a quaint area of town known as San Marco. Lee advises both...more

Plan Design Features That Crimp Retirement Savings

by Ary Rosenbaum on

The Government Accounting Office (GAO) took a look at 80 401(k) plans and concentrated on the features that they believe limit an employee’s ability to save. While the Internal Revenue Code and ERISA currently allow all of...more

Advisors Advantage - December 2016

by Ary Rosenbaum on

A "Crystal Ball" On Life After The New ERISA Fiduciary Rule. We can see the future if we look closely enough. The Department of Labor's (DOL) new fiduciary rule that is going to go in effect in April 2017 is going...more

The Rosenbaum Law Firm Review - November 2016

by Ary Rosenbaum on

Things That Won't Help A Retirement Plan Sponsor Limit Their Liability. Yup, not going to help. When I was a teenager, we were told that eating oat bran would lower cholesterol and it didn't. We're told that...more

401(k) Plan Fee Litigation Update

by Miles & Stockbridge P.C. on

The wave of fee litigation is ongoing and has significantly increased the responsibility of 401(k) plan fiduciaries to follow well documented, prudent processes to monitor 401(k) plan fees and expenses....more

Employee Benefits Developments - November 2016

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of November, 2016. ACA Information Reporting – Bad News and Good News - First, the bad news: The 2016 final...more

Benefits Litigation Update – Fall 2016

by Epstein Becker & Green on

A Publication from Epstein Becker Green and The ERISA Industry Committee - Epstein Becker Green and The ERISA Industry Committee (“ERIC”) are pleased to release the current issue of the Benefits Litigation Update...more

Are HR employees ‘investment advisors’ under the DOL’s fiduciary rule?

by Thompson Coburn LLP on

In April 2016, the Department of Labor promulgated final regulations that fundamentally changed the ERISA fiduciary rules governing advisors to retirement income investors. Though the rule is final, the new provisions...more

New Retirement Requirements for California Employers

by BakerHostetler on

Starting Jan. 1, 2017, the California Secure Choice Retirement Savings Program (Senate Bill 1234) will begin the development and build-out of a program to require employers who do not already offer a tax-qualified retirement...more

My opinion on Payroll Provider TPAs

by Ary Rosenbaum on

If there is one opinion that I have that is argued about many times it is my two cents in the use of the largest payroll providers being in the Third Party Administration (TPA) business. Usually, the people who criticize my...more

ERISA Basics National Institute: Section 401(k) Plans

by McDermott Will & Emery on

A 401(k) plan has a qualified cash or deferred arrangement that is part of a profit sharing plan or stock bonus plan. Under the Internal Revenue Code Section 401(k)(2), an employee may elect to make contributions to the plan,...more

All points lead to more index funds in 401(k) plans

by Ary Rosenbaum on

Thanks to the new Fiduciary Rule, I believe that you’re going to see more index funds in 401(k) plans. However, that’s no surprise because that‘s the way we’ve been heading now for the past 15+ years....more

Advisors Advantage - November 2016

by Ary Rosenbaum on

401(k) Plan Providers' Behavior To Avoid That Loses Clients. Things to avoid. Over the past 18 years as an ERISA attorney, I have some pretty weird reasons why retirement plan providers get fired. I'll never get the...more

Mandatory Payroll Deduction Savings Programs Are on the Rise

by Littler on

According to the U.S. Department of Labor (DOL), one-third of American workers do not have the option to participate in a retirement savings plan through their employers. To help employees save for retirement, more states are...more

Do You Need to Send an Annual Notice to Plan Participants? If So, You May Need to Do So by December 1, 2016*

by Alston & Bird on

Plan sponsors of defined contribution qualified plans may need to issue one or more annual notices to participants before the end of each plan year. Failure to issue a required annual notice can have significant consequences....more

Titles mean nothing; responsibilities mean everything

by Ary Rosenbaum on

When I was younger and it involved with student organizations, there was this saying that you should give people a title and get them involved. Making someone the assistant editorial page editor at the school paper was fine...more

Employee Benefits Developments - October 2016

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of October, 2016. 2017 Benefits Limits Announced - The Internal Revenue Service and Social Security...more

ERISA Fiduciary Issues for Plan Sponsors: What Do 401(k) Plan Fiduciaries Need to Know About Revenue Sharing?

by K&L Gates LLP on

Retirement plan revenue sharing has a bad reputation. Numerous lawsuits have been filed during the past year against employers that sponsor 401(k) plans alleging breach of fiduciary duty under the Employee Retirement Income...more

Sometimes it’s about control

by Ary Rosenbaum on

As a retirement plan provider, you meet a potential client and you just do so well in the meeting that you think there should be no way that you’re going to lose this prospect. Yet you get the call that a competing provider...more

Who is the biggest 401(k) Recordkeeper and what really matters

by Ary Rosenbaum on

A few weeks back, I wrote an article about 401(k) hustlers you should watch out for and I mentioned the caveat of using a payroll provider as your 401(k)’s third party administrator (TPA). I posted it on LinkedIn and someone...more

Financial Services Quarterly Report - Third Quarter 2016: The Evolving DOL Fiduciary Rule: Impact on Mutual Fund Distribution and...

by Dechert LLP on

The U.S. Department of Labor (DOL) issued the final version of its “fiduciary investment advice” regulation (Final Rule) on April 6, 2016, following a lengthy proposal and re-proposal process. Although the Final Rule reflects...more

Owner/Trustee of 401(k) Plan Accused of Having Eyes Wide Shut on Fiduciary Duties

Last June I blogged about the trend of participant fee class actions moving down to smaller 401(k) Plans. Occasionally, class actions are brought based on other breaches of fiduciary duties, particularly those involving...more

401(k) Plan Sponsor ERISA Fiduciary Litigation Update: White v. Chevron Corporation

by K&L Gates LLP on

On August 29, 2016, the District Court for the Northern District of California dismissed the lawsuit filed against Chevron Corporation by several participants in the Chevron Employee Savings Investment Plan (the “Plan”). ...more

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