News & Analysis as of

Proactive Steps Retirement Plan Sponsors Should Take

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 Law Firm Review

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

Fees are only part of a 401(k) Plan’s problem

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

The Debate Continues Over The Fiduciary Status of 401(k) Plan Service Providers

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

The proposed Fiduciary Rule and the selling of Fear

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

No Country for Lousy Retirement Plans

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. Before killing...more

Advisors Advantage

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

Things They Never Tell You as a 401(k) Plan Sponsor

When my wife and I bought our house, there were quite a few things that the previous owner forgot to tell us such as the fact they never bothered to pull the pipes from the dental office run by a previous owner 20 years...more

End of Year Tips For Retirement Plan Sponsors

With the Holiday season about to start, we know that the end of the year will soon follow. While plan participants maybe more concerned about holiday shopping or the firm’s annual holiday party, it’s a great and necessary...more

10 Concepts That Every Retirement Plan Sponsor Should Know

Unless they are involved in the retirement plan industry a plan sponsor must delegate much of their duties to retirement plan providers that may include third party administrators (TPAs), financial advisors, and ERISA...more

The Sixth Circuit Reminds Claim Administrators Of The Dangers Of A Breach of Fiduciary Duty When Handling Plan Assets

The Employee Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C. § 1001, et seq., was passed with the goal of protecting plan assets so that those assets would be available for plan participants and beneficiaries. See...more

Retirement Plan Sponsors: This is Your Wake Up Call

Anytime I travel, I ask for a wake up call even though my IPhone will blare “The Godfather Waltz” around the same time because you can never be too careful in getting up in the morning. When I travel around the country to...more

Employer’s Excuses Why They Don’t Look At Their Retirement Plan And Why They’re Wrong

As an ERISA attorney with a national practice of plan sponsor and retirement plan provider clients around the country (cheap plug here), I hear many excuses as to why plan sponsors don’t want to take a look at their...more

Another 10 Major Misconceptions Plan Sponsors Have About Their Retirement Plans

Throughout history, there have been misconceptions that people believe in (even until this day) despite the evidence to the contrary. Mrs. O’Leary’s cow didn’t start the Great Chicago Fire of 1871 and Benito Mussolini didn’t...more

End of Year Tips for Retirement Plan Sponsors

With Thanksgiving done, we look to the holidays and the New Year. While many of us are busy shopping for loved ones, many businesses and individuals have their eye geared towards next year. As a retirement plan sponsor, you...more

Where’s My Fee Disclosure Information?

As we discussed in our previous Benefits eAuthority regarding the final rules on service provider fee disclosures, the U.S. Department of Labor (DOL) issued final regulations setting forth the fee disclosure obligations for...more

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