News & Analysis as of

A Retirement Plan Sponsor’s Guide for Selecting Their Financial Advisor

When it comes to your role as a retirement plan sponsor, outside of hiring a TPA (third party administrator), the most important plan provider that you need to hire is a financial advisor. Unfortunately, like my favorite...more

Is There An Elephant In The Room?

401(k) Plan documents can read like Russian novels. They are often long and difficult to understand, so it’s no surprise that administrative errors in operating such plans happen frequently. Common errors include omitting or...more

The Law Firm Review - January 2014

Future Threats That a 401(k) Plan Sponsor Should Be Aware Of. What might be good today, may not be good tomorrow. What was good yesterday might not be a good today. Asbestos was a great fireproof building...more

Attention Non-Profits, Public Schools and Other 403(b) Plan Sponsors: the Deadline to Correct a Failure to Adopt a Section 403(b)...

In what seems like a lifetime ago, the IRS provided eligible plan sponsors until December 31, 2009 to adopt a written plan under which they would maintain their existing Section 403(b) arrangements. A 403(b) plan is a...more

Plan Sponsors of 401(k) Plans/Pension Plans: Must Recognize Same Sex Married Couples Effective September 16, 2013

On August 29, 2013, the Internal Revenue Service (IRS) ruled that for federal tax purposes, spouse includes an individual who is legally married to a same-sex individual under state law. This Revenue Ruling 2013-17 has a...more

It Takes Only One Participant To Sink A Retirement Plan Sponsor

I am a fan of the original Highlander movie with Christopher Lambert and Sean Connery. The subsequent sequels and television series make the cannon of the series nonsensical, but I do love the original. Maybe it’s because of...more

IRS and US Department of Labor Continue to Expand, Encourage and Simplify Correction Programs in 2013 Updates to EPCRS and DFVCP

Plan sponsors know that errors and failures in administering a retirement plan happen. All too often, changes in administrators, service providers and other staff uncover errors and compliance problems that should be...more

IRS Updates and Expands Qualification Correction Program

New provisions for correcting operational and plan document errors take effect on April 1. On December 31, 2012, the Internal Revenue Service (IRS) updated its Employee Plans Compliance Resolution System (EPCRS) through...more

2013 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 and excise taxes. To...more

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