News & Analysis as of

Retirement Plan › Benefit Plan Sponsors › Profit Sharing

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Bessemer Trust Company is latest proprietary fund/ 401(k) plan sponsors defendant

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

When you’re a plan sponsor and you run your own proprietary mutual fund business and have your 401(k) plan invest in said funds, expect to be sued....more

McAfee & Taft

Defined contribution plan restatement period begins

McAfee & Taft on

The IRS has recently issued to document vendors opinion letter approvals for updated pre-approved defined contribution plan documents. This starts the next cycle of required defined contribution plan document restatements. If...more

Burr & Forman

The Countdown Begins for Lifetime Income Disclosures

Burr & Forman on

The SECURE Act of 2019 made three statutory changes to ERISA regarding lifetime income benefit payments from defined contribution plans (e.g., 401(k), 403(b), profit sharing, and money purchase pension plans). This blog will...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Adoption of some 401(k) plan features are leveling off

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

There are many choices in developing options for a 401(k) plan and certain features such as automatic enrollment and Roth 401(k) have only been law since 2006. 14 years later, it would not be surprising that the percentage of...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Some random thoughts on the retirement plan business

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

1. Cost is an overused consideration for picking plan providers, value and quality are underused. 2. Target benefit plans are the Boo Berry Cereal of retirement plans. You know they exist, but you rarely see them....more

Hutchison PLLC

Qualified Retirement Plans Utilized by Startups and Early Stage Companies

Hutchison PLLC on

Many employers feel it is necessary, as part of a competitive recruitment process, to adopt a tax qualified retirement-savings plan for employees. Here are some forms of tax qualified retirement plans early stage companies...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Problem of the inefficient plan design

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

When you start fixing up the house (for me, a never-ending battle) and replacing appliances or items like the front door or the roof (I think I’ve replaced 4 front doors in 13 years), you realize that the replacements are...more

Benesch

IRS Retirement Plan Guidance Simplifies Pre-Approved Plans and Provides Roadmap for Individually Design Plan Conversion

Benesch on

In Revenue Procedure 2017-41, the IRS makes significant changes to the procedures that it will use in reviewing and approving “pre-approved” retirement plans. The revenue procedure applies to almost all types qualified...more

Morrison & Foerster LLP

Important Changes to the IRS Determination Letter Program for Retirement Plans

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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The DOL script Plan Sponsors don’t want to hear

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

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

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