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Retirement Plan Benefit Plan Sponsors Best Practices

Fisher Phillips

2024 Employee Benefit Limits Plus 6 Best Practices for Employers

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Get Ready For The New Year Ahead - Employees can contribute more pre-tax dollars next year to their retirement savings accounts, including 401(k) and 403(b) plans, according to an IRS announcement made on November 1. Your...more

Bricker Graydon LLP

Investment Committee Best Practices - If a Prudent Decision Was Made and No One Documented it, Did it Happen?

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If you are serving as a fiduciary for your employer’s retirement plan, you have a duty under the Employee Retirement Income Security Act (ERISA) to act prudently. Engaging in prudent behavior is only the first step a plan...more

Jenner & Block

The “Defensive” 401(k) Plan

Jenner & Block on

No good deed goes unpunished. Those of us working with 401(k) plans are familiar with this sentiment. An employee benefit plan, as the name implies, is supposed to benefit employees. Yet benefit plans – particularly 401(k)...more

ArentFox Schiff

Don’t Be Insecure: DOL Guidance Addresses Cybersecurity for ERISA Plans

ArentFox Schiff on

The Department of Labor (DOL) recently issued new guidance on best practices for maintaining cybersecurity in connection with ERISA plans (the Guidance). The Guidance, which is intended for sponsors, fiduciaries, record...more

Bass, Berry & Sims PLC

DOL Begins Audit of Retirement Plans for Cybersecurity Shortfalls

Bass, Berry & Sims PLC on

To increase protections for the estimated $9.3 trillion in American retirement assets, the Department of Labor (DOL) has begun a new cybersecurity audit initiative for retirement plans. After providing its first set of...more

Holland & Knight LLP

DOL Releases Cybersecurity Best Practices Guidance for Protecting Retirement Benefits

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For the first time, the U.S. Department of Labor's (DOL) Employee Benefits Security Administration (EBSA) has released cybersecurity guidance aimed at protecting workers' retirement benefits. The guidance, which was released...more

Verrill

DOL Cybersecurity Guidance

Verrill on

This post provides a high-level summary of the Department of Labor’s cybersecurity guidance issued in April and identifies actions retirement plan sponsors and other plan fiduciaries should consider taking now in light of the...more

Fisher Phillips

DOL Cybersecurity Guidance: Managing Risks to Employer-Sponsored Retirement Plans

Fisher Phillips on

The Government Accountability Office recently urged the U.S. Department of Labor to release guidance on cybersecurity matters in an effort to mitigate risks to 401(k) and other retirement plans. The GAO noted that there were...more

Holland & Hart - The Benefits Dial

Hello. Is It Me You’re Looking For? Missing Participant Best Practices

The Employee Benefits Security Administration (EBSA) has developed a list of best practices plan fiduciaries can implement to reduce missing participant issues and ensure participants and beneficiaries receive their plan...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

ERISA Cybersecurity Lessons for Employers

Retirement plans are increasingly subject to cybersecurity issues, and the U.S. Department of Labor (DOL) is taking notice. On April 14, 2021, the DOL published cybersecurity guidance “for plan sponsors, plan fiduciaries,...more

Foley Hoag LLP - Security, Privacy and the...

Cybersecurity Best Practices for Retirement Plans: How to Prepare for the Coming Department of Labor Cybersecurity Audits

Are your employer-sponsored retirement accounts exposed to cybersecurity threats? How should you and those who are entrusted with your retirement assets mitigate cybersecurity risks? The official who leads the Employee...more

Morgan Lewis - Tech & Sourcing

DOL Issues Cybersecurity Guidance for Plan Sponsors, Plan Fiduciaries, Recordkeepers, Plan Participants – Part 2

Last week, we posted on the guidance issued by the US Department of Labor (DOL) for plan sponsors, plan fiduciaries, recordkeepers, and plan participants on cybersecurity best practices. Last week’s post focused on the...more

Akin Gump Strauss Hauer & Feld LLP

Department of Labor’s Cybersecurity Guidance for Benefit Plans Signals Increased Scrutiny

On April 14, 2021, the Department of Labor (DOL) issued its first set of guidance documents related to the cybersecurity of retirement benefit plans covered by the Employee Retirement Income Security Act (ERISA). The...more

Faegre Drinker Biddle & Reath LLP

Department of Labor Guidance Addresses Cybersecurity Risk Mitigation

On April 14, 2021, the Department of Labor (“DOL”) issued three documents that provide cybersecurity guidance for plan sponsors, fiduciaries, recordkeepers, and plan participants. Cybersecurity has become an increasingly...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Best defense is good procedures and following them

Having a great 401(k) plan doesn’t mean that a former participant won’t sue you or the government won’t audit you. The reason is that you have no control over what other people may do....more

Bradley Arant Boult Cummings LLP

Missing Retirement Plan Participants? The DOL Says You Should Follow These Best Practices

In response to ongoing pleas for guidance, the Department of Labor (DOL) has published an informal outline expressing its views on how retirement plan administrators should be addressing missing or unresponsive participants....more

American Conference Institute (ACI)

[Virtual Event] 18th NATIONAL FORUM ON ERISA Litigation - November 18th - 19th, 10:45 am - 1:30 pm EST

Join us virtually to ensure that you are equipped with the latest updates and strategies to prevent, manage and defend against rising, costly ERISA disputes. There has never been a more critical time to “compare notes”...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - COVID-19 Edition - Employee Benefits Considerations When Conducting Furloughs and...

Williams Mullen on

On the latest episode of Williams Mullen's Benefits Companion, host Brydon DeWitt discusses the differences between furloughs and layoffs and how each can impact employee benefits, such as 401(k) plans and group health plans....more

UB Greensfelder LLP

[Webinar] What's New in the World of ERISA? - February 13th, 2:00 pm ET

UB Greensfelder LLP on

Join Ulmer on February 13 for a Live Webinar on What’s New in the World of ERISA - Journey to the world of ERISA with Cleveland Partner-in-Charge Patricia Shlonsky on February 13 at 2 p.m. (ET). During this one-hour...more

Proskauer Rose LLP

ERISA Newsletter - Fourth Quarter 2019

Proskauer Rose LLP on

Editor's Overview - Happy New Year. We wrap-up 2019 with an article that reflects on significant developments in ERISA litigation during 2019, and takes a look at what's on the horizon for 2020. The courts (at all levels)...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Great distribution needs a good product

If you have a great product, but lousy distribution, you’re not going to do well. Yet the same thing is on the flip side if you have great distribution, but a lousy product. Whether it’s a multiple employer plan, a great...more

Groom Law Group, Chartered

SECURE Act Testing Relief for Closed/Frozen Defined Benefit Plans

In recent years, many defined benefit (“DB”) pension plan sponsors have taken action to limit ongoing coverage and benefit accruals of their DB plans.  Over time these plans may have difficulty continuing to satisfy the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Focus on what the competition isn’t

When I started my law practice, I started to look at what the competition was doing and I decided to do things differently. Other ERISA attorneys charge by the hour, they charge for every phone call, and I just didn’t want to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Signs of an unhealthy plan

When it comes to your health, there are certain symptoms you should look out for that could be a harbinger of something wrong. The same can be said of your 401(k) plan. Here are some things to consider...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Make sure what you sell works

At home, I have Verizon FIOS for TV and the Internet and that was after having my cable provider, Optimum for about 13 years. A few months back, I was enticed to re-sign with Optimum and their new Altice converter box/router....more

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