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
Retirement plan sponsors have a lot of headaches and liability because of their role as plan fiduciaries. They can sit back and do nothing, thereby increasing their potential liability. They can also be proactive and take...more
The administrative burden of determining the validity of rollover contributions to qualified retirement plans, and the associated risk of jeopardizing the plan’s tax-qualified status, traditionally has been a significant...more
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
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
Plan Sponsor Should Avoid These Retirement Plan Provider "Con Games".
Scams you should watch out for.
The George Clooney-Brad Pitt trilogy of heist films known as Ocean's Eleven, Ocean's Twelve, and Ocean's...more
The George Clooney-Brad Pitt trilogy of heist films known as Ocean’s Eleven, Ocean’s Twelve, and Ocean’s Thirteen were remembered for their twist endings, stylish pacing, and lightheartedness. Since the Ocean gang were...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 and excise taxes. To...more
Plan Sponsors' Misconceptions About Retirement Plan Fee Disclosure.
There are many.
To me, there is no greater television show than Seinfeld because it's timeless and there is something about each episode that...more
Animal Farm by George Orwell was a clever allegory of the Bolshevik Revolution and the Soviet Union where the oppressed animals overthrew Farmer Mr. Jones, only to start oppress- ing each other. A similar situation is when I...more
My great Uncle Jack Urbinder passed away a few weeks back at age 88. He was my Grand- mother’s only brother (out of 3) who survived the Holocaust. Much like my grandmother, Uncle Jack was genuine and he told it as he saw it....more
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
A major reason that employee benefits, such as employer- provided healthcare and retirement plans, exist is that they provide a tax-advantaged way for an employer to provide additional compensation to an employee, her spouse,...more
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
To me, there is no greater television show than Seinfeld because it’s timeless and there is something about each episode that reminds you of normal day life. In the reverse chronology episode set in India called “The...more
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
In December of 2013, the IRS released new final versions of the Form 5300 and the Form 5310, forms which are used by individually designed retirement plans to request a determination as to the plan’s tax qualification status....more
On May 9, 2014, the Internal Revenue Service finalized regulations that govern the tax treatment of payments made by retirement plans to pay accident or health insurance premiums. Under the final regulations, accident or...more
In Golden Star Inc. v. MassMutual Life Ins. Co., 2014 WL 2117511 (D. Mass. May 20, 2014), a district court addressed two issues that have become hotly contested in 401(k) plan fee litigation: (1) whether and when a plan...more
I’m a Howard Stern fan since I was about 11. I’m sorry if you’re offended, but I love that brand of humor. One of the main producers of funny materials are guys by the name of Sal & Richard. Aside from their phony calls, they...more
One of the major things that plan sponsors forget about their retire- ment plans is the plan document. ERISA (the Employee Retirement Income Security Act of 1974 for those scoring at home) requires all retirement plans to...more
I always believe that regardless of whether it’s business or in regular day-to-day life, that you can’t be everything for everybody. Being honest with that is only half the battle.
A lot of times, I met folks who are...more
I have a client who had been undergoing a Department of Labor (DOL) audit. Their mistake? Years ago, a former participant asked for a distribution from this trustee directed profit sharing plan (so no 401(k)) and my client...more
In the movie, No Country for Old Men, the hit man Anton Chigurh (played by Javier Bardem) confronts Carson Wells (who was also trying to recover the same money Chigurh was after) in his hotel room.
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