On February 6, 2025, the Trump administration (the Administration) issued an executive order (the Review Order) directing the heads of Federal executive departments and agencies (Agencies) to review all funding the Agencies...more
2/21/2025
/ Affordable Care Act ,
Compliance ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Executive Orders ,
Federal Funding ,
Health Insurance ,
Nonprofits ,
Retirement Plan ,
Tax Exempt Entities
The SECURE 2.0 Act of 2022 (SECURE 2.0) significantly changes the legal and administrative compliance landscape for U.S. retirement plans. Foley & Lardner LLP is authoring a series of articles that take a “deep dive” into key...more
...In a 1986 press conference, President Ronald Reagan infamously quipped: “the nine most terrifying words in the English language are: ‘I’m from the government, and I’m here to help.’” While legislation affecting retirement...more
In last month’s 401(k) Compliance Check, we discussed the importance of developing (and maintaining) best practices for handling beneficiary designations. This month, we discuss one of the most common problems faced by 401(k)...more
Recently, we examined the wisdom and legality of mandating retirement for older workers. The gist of that analysis was “don’t do it” except in limited circumstances — and certainly don’t do it without talking to your legal...more
These days, nearly everything – and everyone – is online, including retirement plan participants. Participants can use their plan’s websites or online portal to do just about anything – enroll (or disenroll), make or change...more
Every year about this time, when the holiday season is just beginning and the new year is around the corner, all good qualified retirement plan sponsors (and plan administrators) ask: “Have we adopted all the IRS-required...more
Administrators of plans subject to ERISA (including plans sponsored by for-profit and nonprofit businesses and organizations) must provide participants and beneficiaries with summary plan descriptions (“SPDs”) describing “the...more
While not exactly a Thanksgiving “miracle,” many retirement plan sponsors were no doubt thankful for the IRS’ recent issuance of proposed regulations (the “Proposed Regs”) addressing changes to the Code §401(k) and 403(b)...more
In a February 2018 article, my colleague Kathleen Dreyfus Bardunias encouraged retirement plan sponsors to implement annual “operational checkups” in order to ensure their plans were administered in compliance with the plan’s...more
Unless you’ve been living on a remote mountaintop or inside a cave for the past 10 years, chances are good you’ve either been affected by a cybersecurity breach or know someone who has. Among many other businesses, recent...more
12/22/2017
/ Benefit Plan Sponsors ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Duty to Monitor ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Equifax ,
Hackers ,
Retirement Plan