When COBRA cases survive motions to dismiss, big dollars are at stake. Marrow v. E.R. Carpenter Co., No. 8:23-cv-02959, is a class action lawsuit filed in the U.S. District Court for the Middle District of Florida on behalf...more
Current volatile market conditions and increasing interest rates are causing defined-benefit plan administrators and sponsors to consider purchasing annuity contracts (often called “terminal funding annuities”) to fund...more
Almost one year from the date it updated its investment duties regulation (29 C.F.R. § 2550.404a-1), triggering our previous article “DOL to Plan Sponsors: ‘It’s All About the Benjamins!,’” the Department of Labor (DOL)...more
If you thought the “Matrix” and “Spider-Man” sequels were impressive, you will be delighted to know that in a matter of weeks after revisiting its guidance on ESG retirement plan investments, the Department of Labor also...more
On February 26, the U.S. Supreme Court in Intel Corporation Investment Policy Committee v. Sulyma unanimously held that participants are not presumed to read retirement plan investment information....more
This article focuses on 401(k) and 403(b) plans that are in one of the following situations:
1. The plan failed ADP or ACP testing and must distribute excess amounts to its higher-ranking employees or make additional...more
2/5/2020
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Compensation & Benefits ,
Distribution Rules ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Internal Revenue Code (IRC) ,
IRS ,
Nonprofits ,
Pass-Through Entities ,
Retirement Plan ,
Tax Deductions ,
Tax Planning
A recently released case highlights the protection afforded by a retirement plan committee that takes its role seriously. In Scalia v. WPN Corp., No. 2:14-cv-01494, 2019 WL 4748052 (W.D. Pa. Sept. 30, 2019)), a Pennsylvania...more
11/15/2019
/ Breach of Duty ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Enforcement Actions ,
Failure to Monitor ,
Fiduciary Duty ,
Investment Management ,
Investment Opportunities ,
Regulatory Oversight ,
Retirement Plan
On January 5, the Department of Labor (DOL) announced that regulations it previously proposed will apply to certain retirement and medical disability claims filed after April 1. This article focuses on a few practical...more
This updates our August 15 blog entry, which targeted employers who sponsor retirement or welfare plans and are concerned about their fiduciary liabilities for properly selecting service providers....more
12/6/2017
/ Benefit Plan Sponsors ,
Best Interest Contract Exemptions ,
Conflicts of Interest ,
Consumer Financial Products ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Financial Services Industry ,
Investment Adviser ,
Investment Management ,
Regulatory Oversight ,
Retirement Plan
Provisions in the current proposed Senate tax reform bill would likely reduce the effectiveness of retirement plan arrangements that regularly receive contributions of unused leave for former employees, commonly known as...more