On January 14, 2025, the DOL issued Field Assistance Bulletin (FAB) 2025-01, providing sponsors and administrators of ongoing defined contribution plans with a new option for missing participant balances of $1,000 or less:...more
2/12/2025
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Benefit Plan Sponsors ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
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Employee Retirement Income Security Act (ERISA) ,
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Financial Institutions ,
Financial Services Industry ,
Individual Retirement Account (IRA) ,
Plan Administrators ,
Reporting Requirements ,
Retirement Plan ,
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Unclaimed Property
In Newsom v. Reliance Standard Life Insurance Company, 2022 U.S. App. LEXIS 4505 (5th Cir. Feb. 18, 2022), the United States Court of Appeals for the Fifth Circuit clarified the difference between an eligibility determination...more
In McIntyre v. Reliance Standard Life Insurance Company, 972 F.3d 955 (8th Cir. 2020), the United States Court of Appeals for the Eighth Circuit clarified the standard of review to apply where there has been a denial of...more
It is well-established under the Employee Retirement Income Security Act of 1974 (“ERISA”) that when an employee benefit plan grants the plan administrator discretion to decide questions of eligibility for benefits or to...more