Employers that do not timely deposit participant deferrals and loan contributions to their employer sponsored retirement plans can be subject to Department of Labor (DOL) penalties for breaching their fiduciary duties....more
6/10/2025
/ Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Contributions ,
Employer Contributions ,
Excise Tax ,
Fiduciary Duty ,
IRS ,
New Guidance ,
Penalties ,
Prohibited Transactions ,
Retirement Plan ,
Tax Liability
The U.S. Department of Labor (DOL) issued a revised Voluntary Fiduciary Compliance Program (VFCP), a long-awaited update by many in the industry. The most significant change is the introduction of a self-correction component,...more
1/16/2025
/ 401k ,
Benefit Plan Sponsors ,
Compliance ,
Deferral Standard ,
Department of Labor (DOL) ,
EBSA ,
Employee Benefits ,
Fiduciary Duty ,
Reporting Requirements ,
Retirement Plan ,
Voluntary Correction Program
We have noticed an increasing number of employers reaching out with questions about whether they should have their defined contribution plan join the auto-portability network. ...more
In a recent court ruling, the US Department of Labor (DOL) prevailed against corporate directors and shareholders for claims related to an Employee Stock Ownership Plan (ESOP) transaction. ...more
11/4/2024
/ Appraisal ,
Board of Directors ,
Business Valuations ,
Controlling Person ,
Corporate Officers ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
ESOP ,
Fair Market Value ,
Fiduciary Duty ,
Shareholders ,
Valuation