Retirement Plan

News & Analysis as of

The DOL and the Proposed Fiduciary Rule: A Prediction

Public comments regarding the Department of Labor’s proposed new fiduciary rule were due and the process will continue. I have said all along that the Department of Labor (DOL) will get a new fiduciary rule in place...more

For 401(k) plans, the best of times is now

I always tell this story because it’s funny: I went to a Jewish day school that didn’t provide lunch, so I had to brown bag it everyday. On one day, my mother forgot to put in my can of Coca Cola in the bag and instead put in...more

The Numbers Game of 401(k) Plan Assets

Life is a numbers game. Whether it’s business, family, or pleasure, numbers do matter. What the numbers say today, may not say tomorrow and you can often predict the future of the numbers because demographics are pointing the...more

Seeking Guidance In Fiduciary Duty Compliance? Work With Experienced Attorney

In our last post, we spoke about the importance of businesses being aware of their fiduciary responsibilities and establishing solid compliance policies to ensure they are meeting their legal obligations. One area where this...more

New IRS Guidance on Lump-Sum Windows

The IRS has changed its position on lump-sum windows for retirees in pay status. On July 9, the Internal Revenue Service (IRS) issued Notice 2015-49, which prohibits sponsors of qualified defined benefit plans from...more

IRS Moves to Prohibit Lump Sum Windows for Retirees

The IRS issued Notice 2015-49 (the "Notice") on July 9, 2015, effectively ending the ability of sponsors of qualified defined benefit pension plans ("DB Plan") to "de-risk" their plans by offering participants in pay status...more

Quirky Question #264, Oregon Employers: Beware!

Question: I am an employer in Oregon, and I understand Oregon Governor Kate Brown signed a whole slew of bills into law on Monday which will directly impact Oregon employers. What do I need to know?...more

Plan Provider Changes Shouldn’t Be Just To Make Someone $$$$$

Everyone has an opinion, but I think the independent opinion that is guided by beliefs and not by pay is far more important than the opinion that is greased by greed. I had lunch with my local neighborhood third party...more

Employee Benefits Developments - June 2015

Supreme Court: Plan Fiduciaries Have a Continuing Duty to Monitor Plan Investments. In 2007, participants and beneficiaries under a 401(k) plan sued the plan fiduciaries and the plan sponsor to recover damages for alleged...more

Oregon Governor Kate Brown Signs “Fair Shot” Legislation into Law—Employers Beware!

Oregon Governor Kate Brown signed a package of four bills into law on Monday, three of which will directly impact Oregon employers. Specifically, it requires even small employers to give up to 40 hours of paid sick time,...more

United State Supreme Court Confirms ERISA Fiduciary’s Continuing Duty To Monitor Investments

In its Tibble v. Edison International decision the United State Supreme Court confirmed that the scope of an ERISA fiduciary’s duty of prudence continues after initial investments are made and imposes an ongoing duty to...more

New 2015-2016 Employment Laws for Oregon Businesses

The 2015 Oregon legislature has adjourned, but not before handing Oregon businesses a number of significant new employment laws. Below is a brief summary of the new legislation, all of which Governor Kate Brown has signed,...more

Bridging the Week - July 2015 #2

Alleged Fictitious Sales to Facilitate Improper Money Pass Prompts CFTC Injunctive Action and Asset Freeze: The Commodity Futures Trading Commission filed a lawsuit in a federal court in Illinois against Yumin Li and Kering...more

Plan Sponsors Need Their Own All-Stars

The Major League Baseball All Star Game was something I always looked forward, especially when my Mets were doing well in the mid-1980’s. Since 1933,it has been the Mid-Summer Classic. The starters for the All Star Game...more

July and August 2015 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

Commission Payments to IC-DISC Recharacterized as Non-Deductible Dividends

In Summa Holdings, Inc. v. Commissioner, T.C. Memo 2015-119, the Tax Court recharacterized an exporter’s deductible commission payments made to an IC-DISC as non-deductible dividend payments to the exporter’s shareholders...more

New Oregon Laws: Criminal Background Checks and State Retirement Savings Plan - “Ban the Box” and Oregon Retirement Savings Plan...

Two new Oregon laws establish policies regarding employer criminal background checks and questions for applicants and a state-run retirement savings plan. In part, Enrolled House Bill 3025 (HB 3025) bans the practice by some...more

The Snowball Effect in not using an ERISA Attorney

The snowball effect is the term for a process that starts from something that is small and builds upon itself, becoming larger and also perhaps potentially dangerous or disastrous. The idea is that an avalanche can be started...more

Tax Law Blog: New Procedures to Correct Retirement Plan Mistakes

The IRS has recently modified the Employee Plans Compliance Resolution System (EPCRS) to encourage employers to adopt automatic contribution features, and to detect and correct errors in retirement plans quickly. Revenue...more

Advisors Advantage - July 2015

In This Issue: - How Retirement Plan Advisors Can Benefit From Any New DOL Fiduciary Rule - Avoid Other Providers Who Are The Sticks in the Wheels of Progress - Sometimes It's Just Words - Never...more

How Retirement Plan Advisors Can Benefit From Any New DOL Fiduciary Rule

One of my favorite companies is Netflix. The first time I came into contact with them, it was through an offer that was in the box of the first DVD player I bought in 2000. Instead of rentals through Blockbuster or Hollywood...more

U.S. Supreme Court Says “Regular Review” of ERISA Investments Required

ERISA plan fiduciaries charged with responsibility for selecting, monitoring or removing plan investment options should pay close attention to the U.S. Supreme Court’s recent ruling in Tibble v. Edison Intl., 135 S. Ct. 1823...more

The Rosenbaum Law Firm Review - July 2015

In This Issue: - Things in a 401(k) Plan That Don't Look Right. - Employer's Excuses About Their Retirement Plan And Why They're Wrong. - Small 401(k) Plans Have More Problems Than Larger Ones. - The One...more

ERISA Case Highlights Importance of Written Releases at Termination of Employment: Sullivan v. Stanadyne Corporation

A federal court has dismissed claims for enhanced retirement benefits in a case highlighting a participant’s written release of claims at the time of his employment termination. Sullivan v. Stanadyne Corporation, Case No....more

OCIE Launches Sweep Examination of BD/IA Retirement Investments

The SEC’s Office of Compliance Inspections and Examinations (OCIE) is launching a sweep examination that will target the retirement-based savings activities of broker-dealers and investment advisers. The multi-year...more

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