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Retirement Plan › Fiduciary Duty › Employer Contributions

The Wagner Law Group

District Court Grants Motion to Dismiss Forfeiture Complaint

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Last year, we alerted you to the filing of several class action lawsuits alleging that plan fiduciaries violated their duties of prudence and loyalty under Title I of ERISA by using forfeitures to reduce employer...more

Warner Norcross + Judd

Attention: Forfeitures and Other Unallocated Accounts in Retirement Plans Need Review

Warner Norcross + Judd on

Recent developments spotlight issues with forfeiture and other unallocated accounts in defined contribution retirement plans, such as 401(k) plans: •The IRS has set the deadline for plan forfeiture use. •Participants in...more

The Wagner Law Group

Forfeiture Cases – Update

The Wagner Law Group on

Last year, we alerted you to the filing of several class action lawsuits alleging that plan fiduciaries violated their duties of prudence and loyalty under Title I of ERISA by applying forfeitures to reduce employer...more

Jackson Lewis P.C.

Conflicting Decisions Foreshadow Upcoming Disputes in ERISA 401(K) Forfeiture Class Actions

Jackson Lewis P.C. on

Conflicting orders on motions to dismiss from two California courts foreshadow issues for a new theory of ERISA liability. Employers have faced a recent wave of novel ERISA class actions that challenge the reallocation of...more

Bricker Graydon LLP

Too Little, Too Late? Plan Contribution Timing Requirements and How to Correct Delays

Bricker Graydon LLP on

One of the most basic duties of a defined contribution plan sponsor is to ensure that that there is no delay and participants’ salary deferral elections are correctly and timely deposited into the retirement plan. Not only is...more

Nossaman LLP

Court of Appeal Ends Decade-Long Dispute and Upholds Board’s Fiduciary Decisions Regarding Funding of Retirement System

Nossaman LLP on

On March 27, 2024, after nearly a decade of dispute and five years of litigation, the First District Court of Appeal unanimously rejected all claims that a participating employer brought against the Alameda County Employees’...more

Husch Blackwell LLP

Anatomy of an ESOP

Husch Blackwell LLP on

ESOPs can pay fair market value for the stock: Stock purchased by an ESOP must be appraised by an independent third party expert working with a trustee for the ESOP who must also be independent from the seller. The ESOP is...more

Faegre Drinker Biddle & Reath LLP

ERISA Litigation Roundup: Dammed if You Do, Damned if You Don’t

Faegre Drinker Biddle & Reath LLP on

A string of ERISA lawsuits has emerged in recent weeks against companies who offer BlackRock Target-Date Funds (“TDFs”) as 401k investment options to their employees. The lawsuits allege the companies, in their capacities as...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Don’t be cheap on retirement plans

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

I always talk about my open-door policy with financial advisors and third party advisors where I will help these plan providers out without me actively seeking their business. I kind of have that liberty because it’s my law...more

Bowditch & Dewey

Are Pooled Employer Plans Right for You?

Bowditch & Dewey on

If you’re a small employer with a 401(k) plan, you might save some money and provide a more professional level of administrative support by joining a Pooled Employer Plan (PEP). Unrelated employers have always been able to...more

Groom Law Group, Chartered

SECURE Act and Spending Bills – Impact on Plan Sponsors

Groom Law Group, Chartered on

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade, was enacted on December 20, 2019.  Many of the provisions in the...more

BCLP

A Mistake a Day: Top 5 401(k) Compliance Mistakes & Best Practices #2

BCLP on

This week, we are discussing the five most common compliance mistakes made by 401(k) plan administrators and fiduciaries, the potential liability associated with such mistakes, and steps you can take to avoid making them...more

Neal, Gerber & Eisenberg LLP

Employee Benefits Alert

Neal, Gerber & Eisenberg LLP on

Use of Forfeitures for Safe Harbor Contributions, QNECS and QMACS - The Internal Revenue Service (IRS) recently issued final regulations allowing forfeitures in 401(k) plans to be used to fund safe harbor contributions,...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - May 2014

Proskauer Rose LLP on

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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The proposed Fiduciary Rule and the selling of Fear

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

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

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