News & Analysis as of


Why would you be affiliated with that?

by Ary Rosenbaum on

As discussed in my newest book, “The Greatest 401(k) Book Sequel Ever”, I’m still amazed at my interaction with “renowned” ERISA fiduciary expert turned convicted thief Matt Hutcheson. It’s no a great episode in my career...more

ERISA class actions: Ninth Circuit rules that a third-party administrator is NOT an ERISA fiduciary with respect to the terms of...

The Employee Retirement Income Security Act of 1974 (“ERISA”) imposes fiduciary duties on certain parties that deal with retirement and health care plans. In a recent class action, Santomenno v. Transamerica Life Ins. Co.,...more

Auto Enrollment is going up

by Ary Rosenbaum on

When automatic enrollment was first introduced, it was introduced as a negative election and I thought it was just a cheap gimmick by an employer to help their actual deferral percentage test because all money from the...more

IRS Issues Reminder on Required Minimum Distributions Due April 1

Sunday, April 1, 2018, is the deadline for tax-qualified retirement plan participants who had reached at least age 70 ½ and retired in 2017 to commence receiving required minimum distributions (RMDs) of their plan benefits....more

Another Vantage lawsuit with an advisor twist

by Ary Rosenbaum on

A great scene is in GoodFellas is when Jimmy chastises Henry for getting arrested because he allowed himself to be incriminated through wiretaps. For years, I’ve been warning advisors about the referrals they make and it...more

Issues Plan Sponsors and Fiduciaries Should Watch

by Winstead PC on

Once upon a time, our retirement plan worries were primarily generated by the U.S. Department of Labor (“DoL”) or the Internal Revenue Service and their regulatory and enforcement efforts. In more recent times we have seen...more

Deductions And W-4s: Early 2018 Responses To Tax Reform

by Jackson Lewis P.C. on

The Tax Cuts and Jobs Act signed into law on December 22, 2017 is prompting some prudent early tax 2018 actions by both employers and employees related to employee benefits. Many employers are electing to make additional...more

New Disability Claims Procedures May Apply to Qualified and Nonqualified Retirement Plans, Too

As mentioned in our recent blog, the date for complying with the new disability claims procedures (April 2, 2018) is rapidly approaching. In addition to making sure disability plans comply with the new rules, employers...more

Recent and Upcoming Changes to 401(k) Plans

Legislation enacted in recent months should result in fewer operational errors and expanded participant opportunities. The Tax Cuts and Jobs Act extends the period a participant may make a tax-free loan rollover to an IRA...more

Action Needed by Certain ERISA Plans – New Disability Claims Procedures Apply Beginning April 2018

by Bass, Berry & Sims PLC on

In January 2018, the U.S. Department of Labor (DOL) announced that final regulations affecting how some ERISA plans process claims and appeals will apply beginning April 1, 2018. As explained below, the final regulations...more

Advisors Advantage - March 2018

by Ary Rosenbaum on

Trying To Understand A Plan Sponsor's Irrational Decisions Isn't Easy. It's hard to make sense of irrational decisions, but here is a starter. As retirement plan providers, we know that it's very hard to recruit new...more

Is Payday The New Groundhog Day? What Bill Murray Can Teach Employers About New Pay Apps

by Fisher Phillips on

Most are familiar with Bill Murray’s classic comedy, “Groundhog Day,” in which egotistical weatherman Phil Connors repeatedly re-lives the date of February 2, 1993. At first, Connors relishes replicating the same events each...more

The Rosenbaum Law Firm Review - March 2018

by Ary Rosenbaum on

That Fiduciary Warranty Is Not Worth The Paper it's Printed On. They are pretty much worthless. A 401(k) plan sponsor is also a plan fiduciary and they have the responsibility to prudently run their plan. One major...more

Third Circuit Analyzes Standing for ERISA Plan Management Claims

A recent Third Circuit decision reinforced the need for ERISA plaintiffs to plead injury-in-fact to establish Article III standing. In Krauter v. Siemens Corp., No. 17-1662, 2018 WL 921542 (3d Cir. Feb. 16, 2018), the...more

Tax and Budget Bills Include Tax Qualified Retirement Plan Provisions

by K&L Gates LLP on

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

Tax Reform's Impact on 401(k) Plan Loan Offset Treatment - Actions for Plan Administrators and Human Resources Benefits Managers

by Holland & Knight LLP on

• The recent Tax Cuts and Jobs Act of 2017 (the Act), enacted on Dec. 22, 2017, contains a few rules that will impact benefit administrators. • This client alert focuses on changes made to the tax treatment of plan loan...more

Recent Legislation Impacts Qualified Retirement Plans

by Sherman & Howard L.L.C. on

On February 9, 2018, Congress passed and the President signed – the Bipartisan Budget Act of 2018, H.R.1892 (“BBA”). In addition to funding the federal government through March 23, 2018, the BBA contains a number of tax...more

Hardship Distribution Changes – Tax Reform May Have Unintended Consequences

by Snell & Wilmer on

When tax reform proposals were floating around in the fall of 2017, several early proposals to the Tax Cuts and Jobs Act (the “Act”) included changes to the hardship distribution rules for qualified retirement plans. However,...more

New Legislation Relaxes 401(k) Plan Hardship Withdrawal Restrictions

The Bipartisan Budget Act of 2018 was signed into law on February 9, 2018. Hidden within the legislation are several provisions that relax the restrictions on hardship withdrawals from 401(k) plans. These new provisions that...more

Recent Legislation Will Affect 401(K) Hardship Distributions

by Jackson Lewis P.C. on

Just a few weeks ago, the federal government avoided a potentially lengthy government shutdown when Congress passed and the President signed into law the Bipartisan Budget Act of 2018 (the “Act”). You may already know that...more

An Annual Retirement Plan “Check-Up” May be Just What the Doctor Ordered!

by Foley & Lardner LLP on

February is Heart Health Month, which always reminds me to schedule my annual doctor checkup. This got me thinking that the need for ongoing “checkups” and maintenance applies not just to our health, but to our homes, cars,...more

Defined Contribution Plans in the US and the UK: Lessons From Across the Pond

Eversheds Sutherland is pleased to announce that it has published a paper—“DC Plans in the US and the UK: Lessons From Across the Pond”—which addresses the differences between defined contribution (DC) plans in the US and the...more

The Bipartisan Budget Act’s Impact on Retirement Plans

On Friday, February 9, 2018, Congress passed, and the President signed, the Bipartisan Budget Act of 2018 (the “Budget Act”). The Budget Act contains a number of provisions that affect qualified retirement plans. Plan...more

Employee Benefits Implications of the Bipartisan Budget Act

by Kelley Drye & Warren LLP on

The Bipartisan Budget Act of 2018 (“Act”) was signed into law on February 9, 2018. It includes certain provisions impacting employee benefits, 401(k) plans in particular. The following is a brief description of some notable...more

2018 Benefits Grab Bag - Tax Reform, Bipartisan Budget Act and Other Items

by Winstead PC on

Even though the Tax Cuts and Jobs Act made some changes to how the Internal Revenue Service (the “Service”) is to adjust retirement plan contribution limits late last year, the Service confirmed that the limits on retirement...more

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