On April 17, 2025, the Supreme Court decided Cunningham v. Cornell University, unanimously holding that a plaintiff can state a valid claim under ERISA by merely alleging that a plan used “plan assets” to pay a service...more
4/25/2025
/ 401k ,
Benefit Plan Sponsors ,
Cunningham v Cornell University ,
Defined Contribution Plans ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
ERISA Litigation ,
Fiduciary Duty ,
Motion to Dismiss ,
Prohibited Transactions ,
Retirement Plan ,
SCOTUS
On January 14, 2025, the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) announced significant updates to the VFCP. These changes, effective March 17, 2025, introduce a self-correction feature for...more
1/23/2025
/ Benefit Plan Sponsors ,
Department of Labor (DOL) ,
EBSA ,
Employee Benefits ,
Excise Tax ,
Fiduciary Duty ,
Final Rules ,
Internal Revenue Code (IRC) ,
Retirement Plan ,
Self-Correction Programs ,
Voluntary Fiduciary Compliance Program (VFCP)
On May 12, 2020, the Internal Revenue Service (IRS) released new COVID-19 guidance (Notice 2020-29 and Notice 2020-33), providing both temporary and permanent flexibility to Internal Revenue Code section 125 cafeteria...more
The current COVID-19 public health crisis raises important issues in connection with 401(k) retirement plans that plan sponsored need to consider carefully. Below, we have outlined some of the issues that might arise from the...more