Betsy Olson

Betsy Olson

Faegre Drinker Biddle & Reath LLP

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DOL Lost & Found Database for Retirement Savings Goes Live

If you have ever found $10 in the pocket of a coat that you have not worn for some time, you are familiar with the delight of finding lost money that belongs to you. The Department of Labor’s new Retirement Savings Lost &...more

1/15/2025  /  Benefit Plan Sponsors , Compliance , Data Collection , Department of Labor (DOL) , Employee Benefits , Employee Retirement Income Security Act (ERISA) , Fiduciary Duty , Internal Revenue Code (IRC) , Retirement Plan , SECURE Act

The Clock Is Ticking: DOL Issued Interim Final Rule On Lifetime Income Disclosures For Defined Contribution Plans

The Setting Every Community Up for Retirement Enhancement (SECURE) Act included several provisions related to lifetime income strategies under retirement plans, including a requirement that pension benefit statements for...more

9/9/2020  /  Defined Contribution Plans , Department of Labor (DOL) , Employee Retirement Income Security Act (ERISA) , Federal Register , Fiduciary , Interim Final Rules (IFR) , Pension Benefits , SECURE Act

Reminder for 401(k) Plan Sponsors: Long-Term, Part-Time Employee Eligibility Requirements Take Effect in 2021 under the SECURE Act

The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 changed a number of requirements for retirement plans in 2020 and beyond. Certain changes under the SECURE Act already are in effect in 2020,...more

8/10/2020  /  401k , Benefit Plan Sponsors , Employee Benefits , Part-Time Employees , Required Minimum Distributions , Retirement Plan , SECURE Act

Cutting Costs in a COVID-19 World – Reducing or Suspending Company Contributions to a 401(k) or 403(b) Plan

In response to the current economic crisis caused by COVID-19, many companies are considering cost-savings measures to improve their companies’ financial stability. One such cost-saving option is the reduction or suspension...more

4/29/2020  /  401k , 403(b) Plans , Coronavirus/COVID-19 , Discretionary Clauses , Employee Benefits , Retirement Plan , Safe Harbors , SECURE Act
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