PODCAST: Recruiting and Retention: Can Your 401K Make a Difference?
Investment Management Update – Exit Strategies
by Becky Achten New guidance from the Employee Benefits Security Administration (EBSA) affirms that both sides—retirement plans and welfare plans—must take steps to secure participant data from cybercrime. In 2021 the...more
When you’re a plan sponsor and you run your own proprietary mutual fund business and have your 401(k) plan invest in said funds, expect to be sued....more
The U.S. Court of Appeals for the Second Circuit recently concluded that investment advisor Ruane Cunniff & Goldfarb must face a proposed class action under ERISA Section 502(a)(2) for breach of fiduciary duty relating to its...more
The SECURE Act of 2019 made three statutory changes to ERISA regarding lifetime income benefit payments from defined contribution plans (e.g., 401(k), 403(b), profit sharing, and money purchase pension plans). This blog will...more
1. Cost is an overused consideration for picking plan providers, value and quality are underused. 2. Target benefit plans are the Boo Berry Cereal of retirement plans. You know they exist, but you rarely see them....more
On this joint edition of Williams Mullen's Benefits Companion and GovCon Perspectives podcasts, Brydon DeWitt is joined by special guest Carl Grund, a financial advisor with Signature Financial Partners in Tysons, Va. Brydon...more
On December 29, 2016, the U.S. Department of Labor (the “DOL”) released Interpretive Bulletin 2016-1 (“IB 2016-1”) relating to the voting of proxies on securities held in employee benefit plans. IB 2016-1 withdraws the...more
I had a client who had been undergoing a Department of Labor (DOL) audit. Their mistake? Years ago, a former participant asked for a distribution from this trustee directed profit sharing plan (so no 401(k)) and my client...more
Richard Thomas embezzled nearly $20,000,000 from his employer. The employer then kept Thomas’s profit sharing account of about $21,000 as an offset against the embezzled amount. Of course, this violated ERISA’s...more
The Ninth Circuit held that a participant’s brother, rather than his spouse, was the proper beneficiary of benefits under a profit sharing plan. In so holding, the Court found that: (a) the participant’s first wife, who was...more