Retirement Plan Employee Benefits 401k

News & Analysis as of

Harvey Berman, R.I.P.

People often ask me how I got into ERISA/retirement plan law and I tell them the truth: it’s because it’s the first job I got. The person that gave me that first job was an ERISA attorney named Harvey Berman. I’m sad to...more

Small Plan Faces Excessive Fee Challenge

On May 18, 2016, a lawsuit was filed in the Federal District Court in Minnesota alleging various claims arising out of investment and record keeping fees in an employer’s 401(K) plan. The plaintiffs are seeking for the case...more

Inside Trustees for Small Minnesota 401(k) Plan Face Class Action Over Excessive Fees

A Minneapolis law firm recently filed a class action complaint against Lamettry’s Collision, Inc. and the Trustees of its 401(k) Plan, CFO Stephen Daniel and President Joan Lamettry for various breaches of fiduciary duty with...more

Employee Benefits: ERISA Spring Cleaning - Have You Properly Identified All of Your ERISA Benefits? (5/16)

Why Is It Important To Properly Identify All of Your ERISA Benefits? The Employee Retirement Income Security Act ("ERISA") imposes numerous requirements on covered employee benefit plans, including annual report...more

More DB DC Plan Design Flexibility in Maximizing Benefits for Highly Compensated Employees

Given the subject matter involved, this Alert is very technical and specialized. If your company offers both an active pension plan and a 401(k) or profit sharing plan and performs the general test to satisfy the...more

New Treasury Regulations Impose Heightened Standards for Retirement Fund Advisors

Financial advisors and financial services firms are facing new scrutiny, as indicated by a recent rule change by the U.S. Labor Department. In early April 2016, the U.S. Labor Department issued new regulations requiring that...more

DOL Finalizes The ERISA Fiduciary Regulation -- What It Means For Your Business

In the face of controversy and following thousands of comments from market participants and lawmakers, the Department of Labor (“DOL”) has finalized sweeping changes to the definition of “fiduciary” under the Employee...more

The ERISA Litigation Newsletter - April 2016

Editor's Overview - This month we feature three key developments. First, we review the U.S. Supreme Court's decision in Gobeille v. Liberty Mut. Ins. Co., 136 S. Ct. 936, 947 (2016) wherein the Supreme Court held that a...more

News Alert – Employer Action Required Following Issuance of Final Rule

On April 8, 2016, the Department of Labor (DOL) released the much anticipated final regulation to broaden the scope of fiduciary status under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal...more

Much-Anticipated Fiduciary Rule Presents New Challenges to Financial Services Industry

The U.S. Department of Labor released its long anticipated "fiduciary rule" on April 6, 2016. The rule requires brokers and financial advisers to put their clients' interests ahead of their own when recommending retirement...more

IRS Requests Comments on New Compliance Questions in Form 5500

The IRS added new compliance questions to the 2015 IRS Form 5500/5500-SF, which is the annual report filed by retirement plans with the Department of Labor and the IRS.  The Form 5500 instructions, however, specifically...more

Employee Benefits Developments - March 2016

Previously, many advisors had been concerned that the Internal Revenue Service (IRS) regulations on safe harbor plan designs covering 401(k) and 403(b) plans may have severely limited the abilities of plan sponsors to adopt...more

New Compliance Questions in IRS Form 5500 Warrant Screening Reviews of 401(K) Plans During 2016

The IRS recently added new questions to the 2015 Form 5500/5500-SF annual retirement plan returns. The Form 5500-Series returns are used by retirement plans to report the financial condition, investments, and operations of...more

March and April 2016 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. To avoid such...more

Is Your 401(k) Safe Harbor Plan Amendment Really Safe?

Finally, the IRS has made it clear that a 401(k) safe harbor plan may be amended during a plan year, with certain restrictions, and not lose its safe harbor status, in IRS Notice 2016-16 (the "Notice")....more

New Guidance From IRS Provides Mid-Year Changes To Safe Harbor 401(k) Plans

Prior to the Internal Revenue Services' (IRS) recent issuance of Notice 2016-16 (the Notice), employers that sponsored safe harbor 401(k) retirement plans were uncertain about whether any mid-year changes to their plans would...more

Good News from the IRS on 401(K) Safe Harbor Plans

Safe harbor 401(k) plans are attractive because they are not required to perform annual nondiscrimination testing. In the past, one of the biggest reasons not to offer a safe harbor 401k) plan was the prohibition on changing...more

IRS Allows Mid-Year Changes, Further Encouraging Safe Harbor Plans

The IRS has issued new guidance giving sponsors of Safe Harbor 401(k) plans much greater flexibility to amend their plans during a plan year. This is welcome relief from the previous IRS position that had hobbled such plans....more

Most Midyear Safe Harbor Plan Amendments Now Allowed

Many employers offering a retirement plan utilize a safe harbor 401(k) plan for the convenience and level of security afforded to the employer by its use. However, until recently, the IRS has not expressly permitted...more

IRS Provides Welcome Guidance on Mid-Year Amendments to Safe Harbor 401(k) Plans

The IRS recently issued Notice 2016-16 (the “Notice”), which permits most mid-year amendments to safe harbor 401(k) plans.  This is welcome news to sponsors of safe harbor 401(k) plans who, prior to the issuance of the...more

Safe! Mid-Year Changes to Safe Harbor Plans Permitted

The Internal Revenue Service recently issued long-awaited relief to sponsors of safe harbor 401(k) plans. For years, many employers have relied on various safe harbor plans designs to avoid generally applicable...more

February 2016 IRS Issues Notice on Midyear Changes to Safe Harbor Plans and Safe Harbor Notices

On January 29, 2016, the Internal Revenue Service (IRS) released Notice 2016 - 16 , which provides, effective immediately, significant relief with respect to the ability of a plan sponsor to make midyear changes to a safe...more

IRS Relaxes Rules for Mid-Year Changes

Since its availability, many 401(k) plan sponsors, particularly smaller employers have adopted a “Safe Harbor” plan design under Code Section 401(k)(12) or (13) and 401(m)(11) or (12). Safe Harbor plan designs include both a...more

ERISA Claim Knocked Off the Pedestal - Provider of 401(k) Investment Platform Held Not to Have Fiduciary Liability

Over the years, U.S. employers that sponsor “401(k)” and other retirement plans, and plan fiduciaries, have increasingly become the subject of significant and potentially expensive litigation under the Employee Retirement...more

How to Deal with Employees

I always say that the main reason that I don’t want to have employees is because I was an employee once too. The union lawyers I worked with just didn’t understand the whole dynamic of the employer-employee relationship. They...more

98 Results
|
View per page
Page: of 4
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×