News & Analysis as of

Retirement Plan Benefit Plan Sponsors Defined Benefit Plans

An Overview of Legal, Regulatory and Plan Design Considerations for States

by K&L Gates LLP on

Americans are facing a retirement crisis. The foundation for building a secure retirement — Social Security, employer-provided pensions, and personal savings — has been weakened because most private sector companies no longer...more

Beware of Insurance Brokers Masked as TPAs

by Ary Rosenbaum on

A friend of mine who is a financial advisor asked me about a third party administration (TPA) firm that is actually about a village over from where I live in Long Island. My friend has this prospect with a defined benefit...more

We Have A Mistake In Our Retirement Plan - What Do We Do?

by Kiesewetter Law Firm on

Plan Sponsors often make mistakes, many of which are inadvertent, regarding employees’ defined benefits and contribution plans. Once the Internal Revenue Service (“IRS”) discovers these mistakes, it could audit the plan...more

Important Changes to the IRS Determination Letter Program for Retirement Plans

by Morrison & Foerster LLP on

The Internal Revenue Service (“IRS”) has modified procedures governing favorable determination letters for individually designed qualified retirement plans, including 401(k), profit sharing, defined benefit, and cash balance...more

Don’t blame the 401(k)

by Ary Rosenbaum on

I’ve seen the articles that pop up about how 401(k) plans are somehow to blame for the lack of retirement savings or their replacement of defined benefit plans as the savings vehicle for private employers. I don’t like to...more

IRS Releases Benefits and Contribution Limits for 2017

by Robinson & Cole LLP on

The Internal Revenue Service (IRS) recently issued its annual update regarding dollar limitations on contributions and benefits applicable to tax-qualified retirement and welfare plans for 2017. Please see full...more

IRS Proposes Nondiscrimination Testing Relief for Closed Pension Plans

by McGuireWoods LLP on

In order for its participants to receive favorable tax treatment, a “qualified” retirement plan must satisfy various requirements, including ensuring that it benefits a nondiscriminatory cross-section of employees rather than...more

The Rosenbaum Law Firm Review - October 2015

by Ary Rosenbaum on

Bundled vs. Unbundled 401(k) Plan Providers: The Choice Is Not Clear. Not an easy choice. In our lives, there are times when we have two important choices. It's Coke vs. Pepsi, Mac vs. PC, Xbox vs. PlayStation...more

Looking Beyond the 401(k) for Advisors

by Ary Rosenbaum on

Too often brokers and financial advisors think about their client’s retirement plan needs and only think about the 401(k) plan. It’s understandable based on their lack of understanding retirement plan basics, but it’s not...more

401(k) Plans Don’t Have To Be That Dangerous

by Ary Rosenbaum on

Thalidomide was supposed to be the wonder drug that helped women manage morning sickness until they discovered it caused birth defects. Asbestos was supposed to be the ultimate fire resistant material that was later found out...more

September and October 2015 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

by King & Spalding on

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

IRS Announces Major Changes to its Determination Letter Program for Individually Designed Retirement Plans

by McDermott Will & Emery on

On July 21, 2015, the Internal Revenue Service (IRS) issued Announcement 2015-19 (the Announcement), which ends the five year remedial amendment cycles for individually designed plans effective January 1, 2017. For remedial...more

Monthly Benefits Update - December 2014

by Franczek Radelet P.C. on

Illinois Becomes the First State to Require Automatic Retirement Savings Program for Workers Without Access to a Workplace Retirement Plan - On January 5, 2015, outgoing Governor Quinn signed landmark legislation that...more

Considerations for Employee Benefit Programs That Benefit Employers and Employees

by Epstein Becker & Green on

Employers must compete in the marketplace for talented employees at every level—both in recruitment and retention. It is thus in employers’ best interests to provide employee benefit plans that are attractive to employees and...more

Advisors Advantage - August 2014

by Ary Rosenbaum on

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

by King & Spalding on

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

Discriminatory Defined Benefit Plans: Finding Retirement Gold in the Least Likely of Places

by Gerald Nowotny on

We live in politically charged times. Congress seems unable to reach a consensus on anything, including where to have the annual congressional Christmas ball! Years of political crossfire over the Affordable Care Act have...more

Full disclosure: A practical guide for the HR professional when preparing the retirement plan portions of a proxy statement

by Thompson Coburn LLP on

In 2006, the SEC adopted rules which created the Pension Benefits Table and Nonqualified Deferred Compensation Table to supplement the Summary Compensation Table. The tables mandate certain specific disclosures with respect...more

10 Concepts That Every Retirement Plan Sponsor Should Know

by Ary Rosenbaum on

Unless they are involved in the retirement plan industry a plan sponsor must delegate much of their duties to retirement plan providers that may include third party administrators (TPAs), financial advisors, and ERISA...more

2013 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

by King & Spalding on

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 and excise taxes. To...more

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