Late last year, Congress enacted a sweeping set of new retirement savings rules. The SECURE 2.0 Act of 2022 (SECURE 2.0), included as part of the Consolidated Appropriations Act, 2023, builds on the significant retirement...more
Recent novel coronavirus legislation — the Families First Coronavirus Response Act (“FFCRA”) and the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) — include two provisions impacting employer-provided...more
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which provides for $2 trillion of economic stimulus, includes a number of relief provisions for employee benefit plans, including relief related to...more
Retirement plan “leakage” — premature distribution of retirement plan assets — has been a significant focus of retirement plan policy for a number of years. One primary source of leakage is retirement plan loan defaults. In a...more
The tax bill enacted late last year (Public Law No. 115-97) and the budget bill enacted earlier this month (the Bipartisan Budget Act of 2018) included a handful of changes to the rules applicable to tax-qualified retirement...more
House and Senate Republicans passed a comprehensive tax reform bill on December 20, 2017 that makes sweeping changes throughout the Internal Revenue Code affecting many educational institutions, as well as most individuals...more
While much of the 401(k) fiduciary litigation in recent years has focused on investment and recordkeeping expenses, a large number of claims filed against 401(k) fiduciaries have alleged that fiduciaries simply made a bad...more
Retirement plan revenue sharing has a bad reputation. Numerous lawsuits have been filed during the past year against employers that sponsor 401(k) plans alleging breach of fiduciary duty under the Employee Retirement Income...more
On August 29, 2016, the District Court for the Northern District of California dismissed the lawsuit filed against Chevron Corporation by several participants in the Chevron Employee Savings Investment Plan (the “Plan”). ...more
Although most employers have implemented the initial phases of Health Care Reform as they became effective over the past couple years, many of them have taken a “wait-and-see” approach to the next phase of Health Care Reform....more
2/22/2013
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