One of the most common errors in 401(k) plan administration continues to be a mismatch between a plan’s definition of compensation and the actual compensation taken into account for plan purposes despite this problem being...more
Employers that contribute to multiemployer fringe benefit plans are generally aware of the financial risks associated with these plans. In addition to making regular contributions to these plans required by their collective...more
Employers who sponsor employee benefits plans are used to providing ongoing communication to plan participants. The communications range from legally required disclosures (e.g., summary plan descriptions) to legally required...more
Employers who sponsor employee benefits programs understand the importance of maintaining accurate records of benefit eligibility, elections, claims, payments, and other data. Besides complying with ERISA’s record keeping...more
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
Every so often an employer sponsoring an ERISA employee benefit plan will receive a written request from a participant or beneficiary (or their legal counsel) to provide plan related documents....more
As Congress negotiated the legislation that ended up as The Tax Cut and Jobs Act (“Jobs Act”) and the Bipartisan Budget Act of 2018 (“Budget Act”), it considered significant changes to employer based retirement plan rules. ...more