The Essential Plan Providers For A 401(k) Plan.
The Plan Providers you need. When people are sick, especially debilitating illnesses or diseases, it's natural for them to travel far and wide to get the best medical...more
Certain Closely Held For-Profit Employers Need Not Provide Women’s Contraceptive Services. Under the ACA, non-grandfathered group health plans must cover specified preventive services, including certain women’s preventive...more
President Obama’s proposed budget for 2016 shows that some retirement planning strategies have drawn the attention of the Federal government and may be subject to future legislative limitations. The President’s proposed...more
Prior to the Obergefell decision, the U.S. Supreme Court, in U.S. v. Windsor, struck down Section 3 of the Defense of Marriage Act (DOMA), which mandated that federal laws only recognize opposite-sex marriages. As a result of...more
The market correction this week is going to do what all market corrections and crashes do, put a light and heat on the 401(k) industry. I’ve already seen articles calling the 401(k) a 101(k)....more
In Announcement 2015-19, the IRS announced the elimination of the five year remedial amendment cycle for individually designed retirement plans effective as of January 1, 2017. This means that after January 1, 2017,...more
To reduce risk of later attack on the domestic partnership agreement, domestic partners should make fair and reasonable financial disclosures to each other prior to signing the agreement. Each partner should disclose to the...more
There was a law school in Southern California that has a bar passage rate of 7%, which means 93% of their graduates failed the test. They sued the California Bar on free speech grounds because they didn’t want to be forced to...more
The U.S. Department of Labor (“DOL“) recently heard public comment to its proposed regulatory changes implementing a fiduciary duty on any individual receiving compensation for advice tailored to a plan sponsor, participant...more
On August 11, 2015, the Ontario government released long-awaited details about the Ontario Retirement Pension Plan (ORPP). Although there are design issues that need to be settled and many unanswered questions on how the ORPP...more
Employers and employees who participate in a comparable workplace pension plan will not be required to participate in the ORPP. “Comparable Plan” will be defined as a registered pension plan (registered under provincial or...more
When I first started as an ERISA attorney in 1998, almost every plan I worked on except for standardized prototype plan documents were submitted to the Internal Revenue Service (IRS) for a favorable determination letter to...more
Many areas of the law are left unanswered by Supreme Court's decision in Obergefell , but the fundamental question of whether same-sex individuals can marry has now been answered. There have traditionally been many obstacles...more
The Internal Revenue Service (IRS) recently announced that it will be significantly limiting the employee plan determination letter program for individually-designed qualified retirement plans. Prior to these new changes,...more
On July 21, 2015, the Internal Revenue Service (IRS) issued IRS Announcement 2015-19 stating that the determination letter program for individually designed tax-qualified retirement plans (plans that are not based on...more
On July 21, 2015, the Internal Revenue Service (IRS) issued Announcement 2015-19 (the Announcement), which ends the five year remedial amendment cycles for individually designed plans effective January 1, 2017. For remedial...more
Major Revisions to Qualified Plan Determination Letter Process Announced -
Effective January 1, 2017, the staggered five-year determination letter remedial amendment cycles for individually designed plans will be...more
How Retirement Plan Providers Can Avoid Communication Problems.
It's all about relationships and communication.
Life is all about relationships, whether it's family, friends, or business. Whether it's starting a...more
Second Circuit Holds That Posthumous QDROs Are Valid. Yale-New Haven Hospital brought an action in federal court to resolve competing claims by a former spouse of a deceased participant and the deceased participant’s...more
On July 21, 2015, the Internal Revenue Service (“IRS”) released Announcement 2015-19, which significantly limits the circumstances under which the IRS will accept determination letter applications for individually designed...more
Good Bets by a 401(k) Plan Sponsor to Avoid Liability.
As close to a sure thing you'll get. I don't gamble because I don't like to lose and that's a big problem about gambling because people do lose. I stopped playing...more
Retirement plan providers need to look at their fees and determining what work they are doing for their retirement plan clients because like me, they may try to break down their plan expenses into a day rate and try to figure...more
The purpose of a settlement agreement is to resolve some or all of the outstanding issues in a pending case. In the divorce context, it is common for attorneys to use broad language in their agreements related to the...more
For years, employers have been getting a free pass from the courts for a number of different violations of the Employee Retirement Income Security Act of 1974 ("ERISA") relating to the operation of retirement, medical,...more
One joy of UK Parliamentary democracy is watching the annual budget with its howling Government MPs, roaring Opposition MPs and ritual interventions of the Deputy Speaker to allow the Chancellor to finish off his speech....more
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