PODCAST: Williams Mullen's Benefits Companion - Time to Tidy-Up Plan Documents
The latest chapter in the wave of forfeiture reallocation lawsuits comes from Armenta v. WillScot / Mobile Mini. The good news: most of the claims were dismissed. The caution: one prudence claim survived, and the court gave...more
With the leaves changing colors and the holidays around the corner, it’s time for retirement plan sponsors to review their plan documents to comply with year-end amendment deadlines, confirm operational compliance with...more
Recent changes under SECURE 2.0 require all 457(b) non-governmental (tax-exempt) plan sponsors to adopt compliance amendments by the end of 2025 to remain in compliance with federal law. While the amendment deadline for most...more
The deadline for 457(b) deferred compensation plans sponsored by non-governmental, tax-exempt employers to be amended for the SECURE Act and the SECURE 2.0 Act did not get extended. If you are a non-governmental, tax-exempt...more
Chalk up another win for plan fiduciaries in the ongoing wave of forfeiture reallocation suits — and this time, the plaintiffs didn’t even get the courtesy of a do-over....more
To steal a joke from Chris Rock, when I worked at a TPA as the lead ERISA attorney, I used to joke that if you wanted to hide something from one of our plan administrators, just put it in the plan document file. Nobody ever...more
On September 15, 2025, the Department of the Treasury and the Internal Revenue Service issued final regulations implementing key provisions of the SECURE 2.0 Act relating to Roth catch-up contributions. The final regulations...more
On September 15, 2025, the Department of Treasury and Internal Revenue Service issued final regulations addressing catch-up contribution rules for 401(k) plans, 403(b) plans, and governmental 457(b) plans under the SECURE 2.0...more
There are always plenty of new retirement plan investment performance and fee cases, and it’s hard for a plan sponsor, even one that is doing everything properly, to be assured that it won’t be the target of a lawsuit....more
Sometimes, in the strange world of ERISA litigation, you get a surprise. And in Hutchins v. Hewlett Packard, we got one: the Department of Labor, yes, that DOL, the one whose name alone strikes fear into the heart of many...more
Could listing designated beneficiaries on a participant statement spark a fiduciary breach lawsuit? In today’s world, the answer is always yes — and in LeBoeuf v. Entergy, it did....more
Forfeitures have long been a sleepy corner of 401(k) plan administration, but recent class-action lawsuits are waking everyone up....more
Fifteen years ago, I walked away from the law firm treadmill, overhead, politics, billable hours, all of it, and went out on my own. I wanted to practice ERISA law in a way that actually added value, not just racked up hours....more
On July 9th, the Secretary of Labor filed an amicus brief with the Ninth Circuit relating to the appeal of Hutchins v. HP, Inc. In that case, a participant claimed that forfeitures should have been used to offset plan...more
Even the most well-managed employee benefit plans may have certain compliance blind spots. From outdated documentation to missed filing deadlines, we have highlighted a few areas below where we often see gaps....more
Beginning this year, plan sponsors may increase their qualified plan’s mandatory cash-out limit from $5,000 to $7,000. The increase was enacted by SECURE 2.0, and applies to distributions made after December 31, 2023....more
A handful of new ERISA litigation cases (including McManus v. Clorox Co., N.D Cal. No. 4:23-cv-05325) are taking aim at forfeiture accounts and trying to pull them into the never-ending list of ways in which retirement plan...more
It’s that time of year again when calendar year 401(k) plans must send annual retirement plan notices. As you work with your service providers to make sure all notices are sent, now may be a good time to reacquaint yourself...more
The IRS periodically issues tax-related “Issue Snapshots” that can be of interest to employers and practitioners alike. A recent “Issue Snapshot” discusses the timing rules that govern the deductibility of retroactive...more
The next installment of our updates on SECURE 2.0 is on another new in-service withdrawal option. SECURE 2.0 allows plan sponsors of defined contribution plans to amend their plans to allow plan participants who are victims...more
As an ERISA attorney who drafts plan documents at a flat fee, my biggest competitors are not other ERISA attorneys, but third-party administration (TPA) firms. ...more
Employers that provide 401(k) plans on documents that have been “pre-approved” by the Internal Revenue Service (IRS) beware: there is yet another annual notice requirement that may need to be added to your compliance list!...more
The IRS has extended the deadline for plan sponsors of qualified retirement plans and IRAs to make amendments under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Taxpayer Certainty and...more
Historically, courts around the country have approached the enforceability of class action waivers and arbitration provisions in ESOP and Employee Retirement Income Security Act of 1974 (ERISA) plan documents differently,...more
The IRS on Aug. 3, 2022, issued Notice 2022-33, which extends the deadlines for qualified retirement plans, 403(b) plans and governmental retirement plans (including 457(b) plans) to adopt amendments reflecting certain...more