President Biden is expected to sign the 2023 Consolidated Appropriations Act (CAA) this week. The law, which passed the House and Senate on Dec. 23 and Dec. 22, respectively, contains significant changes to employer-provided...more
A new decision from the U.S. Court of Appeals for the 7th Circuit in a so-called “excessive fee” case is good news for plan sponsors, particularly following the Supreme Court’s ruling earlier this year in Hughes v....more
9/14/2022
/ Breach of Duty ,
Corporate Counsel ,
Defined Contribution Plans ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
ERISA Litigation ,
Excessive Fees ,
Fiduciary Duty ,
Hughes v. Northwestern University ,
Investment Management ,
Retirement Plan
The IRS announced in its June 3 Employee Plans Newsletter a new 90-day Pre-Examination Compliance Pilot Program. Under the program, which is in effect, the IRS will notify an employer that it intends to audit the employer’s...more
The U.S. Supreme Court ruled in favor of participants in the Northwestern University retirement plans, breathing life again to their breach of fiduciary duty claims under the Employee Retirement Income Security Act (ERISA). ...more
Effective September 18, 2021, plan administrators of ERISA-covered defined contribution plans must update their benefit statements to display each participant’s account balance expressed as both a single life annuity and a...more