The IRS has long permitted sponsors of individually designed pension and 401(k) retirement plans qualified under Section 401(a) of the Code to obtain a favorable determination letter on the status of their tax-qualified...more
Acknowledging uncommon market conditions, the Pension Benefit Guaranty Corporation (PBGC) announced Technical Update Number 23-1 (the Update), which provides a one-time waiver of certain reporting requirements for some...more
Proactively addressing family care support needs is critical to an organization’s success, and now more than ever, employers are asking for guidance as they progress their plans to address family care inclusion. Join...more
The Department of Labor (DOL) issued a proposed rule with 30-day comment period to address the application of fiduciaries’ duties with respect to proxy voting and exercises of other shareholder rights. The proposal requires...more
The US Department of Labor (DOL) issued an information letter in June 2020 indicating that, in limited circumstances, it will allow defined contribution retirement plans (such as 401(k) plans) to indirectly invest in private...more
9/14/2020
/ 401k ,
Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employees ,
Fiduciary Duty ,
Information Letters ,
Investment Adviser ,
Investment Management ,
New Guidance ,
Private Equity ,
Private Equity Funds ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The recent wave of 403(b) lawsuits against more than a dozen prominent US universities could herald similar suits for other 403(b) plan sponsors. Plan sponsors can minimize their risk by reviewing their plan governance...more
9/8/2016
/ 403(b) Plans ,
Benefit Plan Sponsors ,
Breach of Duty ,
Class Action ,
Educational Institutions ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fees ,
Fiduciary Duty ,
Investment Management ,
Retirement Plan ,
Universities
In the last several months, plaintiffs have filed multiple class action lawsuits against plan sponsors, plan fiduciaries and stable value fund providers. These lawsuits, which have involved 401(k) plans sponsored by large...more
6/1/2016
/ 401k ,
Benefit Plan Sponsors ,
Breach of Duty ,
Class Action ,
Duty of Loyalty ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Investment Adviser ,
Investment Management ,
Investor Protection ,
Retirement Plan
The Internal Revenue Service recently established a one-year pilot program that provides plan administrators and plan sponsors of certain non-ERISA and foreign plans subject to the annual Form 5500 reporting requirements...more