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401k The United States Department of Labor

ERISA Newsletter - Third Quarter 2017

by Proskauer Rose LLP on

Editor's Overview - As we have observed on other occasions, the ERISA class action plaintiffs' bar has, for several years now, honed in on 401(k) plan fiduciaries and their decisions to select and retain investment options...more

Employee Benefits Developments - September 2017

by Hodgson Russ LLP on

Arbitration Clause in Employee Handbook Requires Participant to Arbitrate Fiduciary Breach Claims Against Investment Advisor - Cooper v. Ruane Cunniff & Goldfarb Inc. (S.D.N.Y. 2017) - In a major victory for an...more

Government Agencies Grant Employee-Benefits Relief for Harvey Victims

by Baker Donelson on

In response to Hurricane Harvey and the catastrophic flooding in Texas, the IRS and U.S. Department of Labor have announced relief for those individuals and businesses in the affected disaster areas. The "covered disaster...more

IRS and DOL Provide Relief for Plan Sponsors and Participants Affected by Hurricane Harvey

by Seyfarth Shaw LLP on

The Internal Revenue Service (IRS) and Department of Labor (DOL) issued temporary relief on deadlines and procedural requirements applicable to employee benefit plans for employers impacted by Hurricane Harvey. ...more

The Rosenbaum Law Firm Review - August 2017

by Ary Rosenbaum on

The Plan Providers That A 401(k) Plan Sponsor Needs. A list, all of them. When an employer decides to start a 401(k) plan, one of the biggest problems out there is that they don't know who they need. They know that...more

Back to School for ERISA Fiduciary Claims: How to Prepare for This Trend in University Litigation

In the past 10 years, there have been an increasing number of lawsuits asserting Employee Retirement Income Security Act of 1974 (ERISA) fiduciary claims. These have been accompanied by an increased focus by the Department of...more

The Department of Labor’s Fiduciary Rule – Three Issues for Retirement Plan Sponsors

by K&L Gates LLP on

The DOL’s fiduciary rule re-defines when a party is acting as a “fiduciary” under ERISA as a result of providing investment advice to a retirement plan and has the effect of greatly expanding the types of services that are...more

The easiest mistake most 401(k) plan sponsors make

by Ary Rosenbaum on

The road to hell is paved with good intentions and that’s how I feel when it comes sometimes to what a 401(k) plan sponsor does. Yet, there is an error that too many 401(k) plan sponsors do that the Department of Labor (DOL)...more

DOL May Delay Implementation of Fiduciary Rule

by Liskow & Lewis on

The Department of Labor in a brief filed in a Minnesota lawsuit on August 9, 2017 revealed that DOL had submitted to the Office of Management and Budget a proposal to delay the implementation of remaining parts of the DOL...more

DOL Extends Fiduciary Rule Transition Period, Issues FAQs on Fee Disclosures

Transition Period Extension - In an August 9th court filing, the DOL announced it will extend the transition period for three prohibited transaction exemptions relating to the fiduciary investment advice rule (the...more

ERISA Newsletter - Second Quarter 2017

by Proskauer Rose LLP on

Editor's Overview - Welcome once again to Proskauer's newly revamped ERISA Newsletter. As a reminder, readers can obtain the information in this Newsletter as it is published on our blog. Our featured article this...more

No Additional Delay on Effective Date of New Fiduciary Standards – DOL

This week, new U.S. Department of Labor Secretary Acosta announced that the final fiduciary regulations would go into effect on June 9, 2017. The Department also issued two pieces of guidance with regard to the regulations...more

Employee Benefits Developments - April 2017

by Hodgson Russ LLP on

Deadline to Provide QSEHRA Notice Suspended - IRS Notice 2017-20 - Citing the lack of published guidance, the Internal Revenue Service (IRS) suspended the employer advance notice requirement for qualified small...more

ERISA Newsletter - First Quarter 2017

by Proskauer Rose LLP on

After a brief hiatus, Proskauer's ERISA Newsletter is back with a brand new look. We hope you like it and find it is easier to navigate. In addition to implementing our new format, we have moved to a quarterly publication...more

DOL Proposes 60-Day Delay of Fiduciary Rule in Response to White House Directive

by McDermott Will & Emery on

The future of the fiduciary rule—originally set to be implemented this upcoming April—remains uncertain after the White House directed the United States Department of Labor (DOL) to reevaluate, defer implementation and...more

Employee Benefits Developments - February 2017

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of February 2017. March 31, 2020 Deadline for Amending 403(b) Plans - When the Internal Revenue Service...more

Advisors Advantage - February 2017

by Ary Rosenbaum on

Concepts That Retirement Plan Advisors Shouldn't Focus On. It would be a detriment to focus only on this stuff. Being a financial advisor isn't as easy as many people on the outside think. There are so many things you ...more

"Change in Administration Presents Opportunity to Revisit DOL Fiduciary Rule"

In 2016, regulatory developments introduced fundamental changes in the legal standards that govern the relationship of broker-dealers with their customers. Although the changes are not applicable until April 10, 2017, most in...more

Apples and Oranges: Rollovers, Qualified Plans, and The Best Interest Exemption

by Ary Rosenbaum on

One of the wrinkles of the new fiduciary rule is the requirement of a financial advisor who wants to solicit former plan participants for a rollover to review the costs involved with the plan to determine whether moving the...more

DOL puts out another Fiduciary FAQ

by Ary Rosenbaum on

With an April 2017 deadline fast approaching, the Department of Labor (DOL) issues another frequently asked questions (FAQs) concerning the fiduciary rule which is always nice to get their interpretations of the rules with...more

The Next Big Thing After The Fiduciary Rule? I have some guesses

by Ary Rosenbaum on

With the fiduciary rule coming down the pike in April, people ask me what the next big thing to shake up the retirement plan industry will be. I’m no soothsayer, but I think there will be a couple of areas that the Department...more

The U.S. Supreme Court And Workplace Class Actions

by Seyfarth Shaw LLP on

Seyfarth Synopsis: As profiled in our recent publication of the 13th Annual Workplace Class Action Litigation Report, the U.S. Supreme Court’s rulings have a profound impact on employers and the tools they may utilize to...more

Advisors Advantage - January 2017

by Ary Rosenbaum on

How An RIA Can Profit Off Of The New Fiduciary Rule. It's an opportunity. When it comes to an industry, change is often fraught with trepidation and fear. However, I always believe that change also brings...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The December 22 announcement that Deutsche Bank had settled with the DOJ over long-standing RMBS-related claims and investigations for a reported $7.2 billion prompted this Times long-read that traced the Icarus-like rise and...more

Best Practices for 401(k) Plan Administration Includes Using Forfeiture Accounts by Year-End

by Dickinson Wright on

Since at least 2010, the IRS has publicly stated that forfeitures must be used by the end of the plan year in which the forfeiture occurred, or as soon as possible thereafter. Some IRS pre-approved prototype or volume...more

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