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
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
ERISA §3(38) investment managers has been a hot topic in the marketing of retirement plan providers and for the most part, it’s a good thing because plan sponsors who have no time to handle the fiduciary process of their plan...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
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
Editor's Overview -
This month our authors explore two important areas of ERISA's fiduciary duties applicable to single employer and multiemployer plans. First, Neal Schelberg and Aaron Feuer comment on a growing trend...more
The Sixth Circuit (in a 2-1 decision) recently held that ERISA Section 510 does not protect unsolicited employee complaints. See Sexton v. Panel Processing, Inc., 2014 U.S. App. LEXIS 8752 (6th Cir. May 9, 2014). Plaintiff...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
It is well known that in enacting the Employee Retirement Income Security Act of 1974 ("ERISA"), 29 U.S.C. § 1001 et. seq., Congress set forth a requirement that a Summary Plan Description ("SPD") be furnished to participants...more
There are few sure things in life, and although it is probably safe to say that ERISA disclosure regulations would not be considered one of them, there has certainly been a steady stream of new ERISA-related disclosure and...more
Plaintiffs in most class and collective actions try to plead their claims in such a way as to exert the maximum pressure against the employer. In some instances, that raises the issue of whether the plaintiff should assert...more
Do you have it?
It will determine whether you'll be a big hit or not.
When it comes to being a retirement plan provider and selling your services, you have to have it. Those who have it, succeed. Those who don't,...more
For most professionals who sit on 401(k) or 403(b) plan administrative or investment committees, there is a fair amount of routine. The committee probably adopted an investment policy that dates back to the time the plan’s...more
When it comes to being a retirement plan provider and selling your services, you have to have it. Those who have it, succeed. Those who don’t, don’t. You can’t get it from a bottle, a book, or course....more
The term “deer in the headlights” explains the mental state of a person who shows behavioral signs that remind us of a deer subjected to a car’s headlights where the deer is in such panic that they show no motor reaction to...more
We lived in politically charged times. Congress seems unable to reach any consensus on anything including where to have the annual Congressional Christmas Ball! Years of political crossfire over the Affordable Care Act have...more
About a dozen or so year ago, there was a medical report that dental plaque could cause heart disease. The cynic in me tells me that this was some sort of dental conspiracy to increase revenue as fluoridated water and other...more
Last week, the Internal Revenue Service (“IRS”) issued additional guidance on amendments to qualified retirement plans required by the U.S. Supreme Court’s ruling in United States v. Windsor, in which the Court held certain...more
When the great Bill Parcells (go Big Blue!) was the head coach of the New England Patriots, he got into a tiff with owner Robert Kraft because Parcells wanted more of a say in the personnel decision-making process. Parcells...more
I have blogged in the past about individuals and businesses that are not signatories to a collective bargaining agreement being found liable for withdrawal liability imposed by multiemployer pension plans (plans jointly...more
In a recent Eleventh Circuit case challenging, under ERISA, the use of proprietary funds in a financial services company’s own retirement plan, the court affirmed dismissal of the claims. It held, in Fuller v. SunTrust...more
On March 12, 2014, the Department of Labor (DOL) published in the Federal Register a proposed amendment to its disclosure requirements for “covered service providers” to retirement plans under ERISA § 408(b)(2) that would...more
Under the Employee Retirement Income Security Act, retirement plans generally come in two flavors – (i) retirement plans qualified under Section 401 of the Internal Revenue Code (the Code) and (ii) executive retirement plans,...more
A city administrator-turned-elected city council member believed his retirement benefits would be based on his highest salary multiplied by all his years of service, including his years on the city council; however CalPERS...more
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