Most employers sponsoring 401(k) and 403(b) plans are well aware of the large number of lawsuits filed over the past decade or so alleging breach of ERISA fiduciary duty related to plan investment funds and service providers....more
The Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”) established a new in-service distribution known as a qualified birth or adoption distribution (“QBOAD”). ...more
The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act became law on March 27, 2020. The Act includes important provisions that impact employer sponsored benefit plans. Consistent with its name, the Act provides...more
Most employers are familiar by now of the many lawsuits (more than 100) filed against 401(k) and 403(b) plan sponsors and their employee fiduciaries responsible for selecting the plans’ record keepers and investment line-ups,...more
On July 22, 2013, the DOL announced a temporary enforcement policy that provides the administrators of individual account retirement plans such as 40 (k) or 403(b) plans some additional flexibility regarding when they have to...more