Retirement Plan

News & Analysis as of

Plan Sponsors’ Misconceptions About Retirement Plan Fee Disclosure

To me, there is no greater television show than Seinfeld because it’s timeless and there is something about each episode that reminds you of normal day life. In the reverse chronology episode set in India called “The...more

IRS Announces New Program to Audit Section 409A Compliance

Internal Revenue Code Section 409A (Section 409A) governs the federal income tax treatment of non-qualified deferred compensation and retirement plans and arrangements. Employer noncompliance in both documentation and...more

June and July 2014 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 and excise taxes. To...more

Beneficiary Designations Can Cause Problems for Children With Special Needs

Private retirement savings plans, like IRAs and 401(k)s, have become the main way for American families to save for retirement. But parents of children with special needs need to be vigilant when signing up for a retirement...more

New Fiduciary Rule Delayed

The Department of Labor (DOL) just announced that they were delaying the implementation of a new fiduciary rule for retirement plans and individual retirement accounts. They claim it will be released in 2015. How many years...more

Full disclosure: A practical guide for the HR professional when preparing the retirement plan portions of a proxy statement

In 2006, the SEC adopted rules which created the Pension Benefits Table and Nonqualified Deferred Compensation Table to supplement the Summary Compensation Table. The tables mandate certain specific disclosures with respect...more

IRS updates determination letter request forms

In December of 2013, the IRS released new final versions of the Form 5300 and the Form 5310, forms which are used by individually designed retirement plans to request a determination as to the plan’s tax qualification status....more

IRS Provides Guidance on Retroactivity of DOMA Decision for Qualified Retirement Plans

The Internal Revenue Service (IRS) recently issued Notice 2014-19 and related answers to FAQs, which give plan sponsors additional guidance on how the Supreme Court's decision last June in U.S. v. Windsor applies...more

Final Regulations Allow Retirement Plan Payments for Accident, Health and Disability Insurance

On May 9, 2014, the Internal Revenue Service finalized regulations that govern the tax treatment of payments made by retirement plans to pay accident or health insurance premiums. Under the final regulations, accident or...more

The Good Fundamentals of Being a Retirement Plan Financial Advisor

In 1983, the Chicago White Sox won the American League Western Division under the guidance of future Hall of Fame manager Tony LaRussa. Doug Rader, then-manager of the Texas Rangers, accused the Sox of "winning ugly" for...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

Kennebec County v. Maine Public Employees Retirement System: An Important Ruling for Maine’s Governmental Employers

The Maine Supreme Judicial Court (Law Court) recently handed down an important ruling limiting the administrative authority of the Maine Public Employees Retirement System (MPERS). In Kennebec County v. Maine Public...more

IRS Issues Retroactive Relief Requirement for Delinquent Retirement Plan Form 5500

Until now, those who used the Department of Labor’s Delinquent Filer Voluntary Compliance Program (DFVCP) to obtain relief from penalties for failing to timely file Form 5500 automatically qualified for relief from the...more

CFTC Interprets “Swap” Definition In the Context of Longevity Risk Transfer

The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (Division) recently addressed for the first time the CFTC’s definition of a “swap” as it applies to a specific insurance...more

Supreme Court Grants Certiorari on a Long-Standing Circuit Split Over Collectively Bargained Retiree Health Care Benefits

Earlier this month, the Supreme Court agreed to review the Sixth Circuit’s decision in Tackett v. M&G Polymers USA, LLC, 733 F.3d 589 (6th Cir. 2013). The Court will resolve an existing circuit split as to how courts...more

Retirement Benefits: Missed Deferral Opportunities

The Issue: When an employer fails to take into consideration all forms of compensation (e.g., commissions, bonuses, etc.) for purposes of employee deferrals to its 401(k) Plan, is that a problem?...more

The ERISA Litigation Newsletter - May 2014

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

Survey of Current Benefits Issues

In This Presentation: - Affordable Care Act - Affordable Care Act: Fees and Taxes 2015 – Employer Shared Responsibility Fee - Forms for Reporting Fees - Retirement Plan Errors - Overview - Retirement Plan...more

Avoiding the Top Retirement Plan Mistakes - Checklist

In This Presentation: - Eligibility Errors - Vesting Errors - Compensation Errors - Distribution Errors - Loan Errors - Testing Errors - Other Errors and Things to Consider Excerpt from...more

Sixth Circuit: ERISA’s Whistleblower Provision Doesn’t Protect Giving Information

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

New IRS Guidance on Same-Sex Marriages and Retirement Plans Requires Action by Employers

The Treasury Department and Internal Revenue Service (“IRS”) have issued Notice 2014-9 (the “Notice”) and related Frequently Asked Questions (“FAQs”) providing much anticipated guidance on the application of the Supreme...more

View From McDermott: Having Their Cake and Eating It Too—An Employer’s Guide to Managing Retirement-Eligible Employees Who Want to...

‘‘I would like to start receiving my retirement benefits now, but I would also like to keep working for a bit. Can I do this?’’ Baby boomers pose this question to their employers on a routine basis. Unfortunately, there is no...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

Plan Document Mistakes a Retirement Plan Sponsor Should Avoid

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

When Silence Isn't Silence: What is the Silence of Your ERISA Summary Plan Description Actually Saying?

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

402 Results
|
View per page
Page: of 17