News & Analysis as of

Benefit Plan Sponsors Retirement

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Overpaying for Underperformance: A Fiduciary Breakdown in Plain Sight

A massive new study by Abernathy-Daley covering nearly 58,000 corporate 401(k) plans delivered a simple—but startling—message: virtually every plan suffers from overpriced, underperforming funds. In fact, 99% of plans have at...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

401(k) Plans Need The Involuntary Cash-Out Rule (Updated)

They always say that it’s hard to say goodbye, I never had that issue as a former employee. I was never sentimental to former employers, but other former employees may think differently. As a 401(k) plan sponsor, you...more

Warner Norcross + Judd

One Big Beautiful Bill Enacts Important Health and Welfare Plan Updates

Warner Norcross + Judd on

On July 4, President Donald Trump signed into law the One Big Beautiful Bill Act (OBBB), a sweeping piece of legislation that includes several provisions impacting employer-sponsored health and welfare benefit plans. The OBBB...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Workplace Retirement Plans: Participation Is Up, But So Is Financial Stress

Retirement plan participation is up, but don’t pop the champagne just yet. According to Morgan Stanley at Work’s just-released State of the Workplace Report, while more employees are enrolling in their 401(k) plans, many are...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The 3 Cs: Why 401(k) Plan Sponsors Can’t Afford to Be Cheap, Controlling, and Clueless

After close to 30 years in this business—wearing the hats of TPA employee, ERISA attorney, plan document drafter, and occasional therapist to frantic plan sponsors—I’ve seen it all. The horror stories, the lawsuits, the...more

Alston & Bird

Navigating the Complexities of VEBA Asset Reallocation: Comprehensive Tax and ERISA Fiduciary Considerations

Alston & Bird on

Our Employee Benefits & Executive Compensation Group discusses how employers can use voluntary employees’ beneficiary association (VEBA) asset reallocations while meeting ERISA fiduciary obligations....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL offers temporary policy on transfers of small amounts to state unclaimed funds

The Department of Labor recently issued Field Assistance Bulletin (FAB) 2025-01, which amounts to a temporary enforcement policy around the transfer of small retirement plan benefits — think $1,000 or less — to state...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Remember That Your 401(k) Plan Is An Employee Benefit

So often, people forget why something was implemented or done. They lose their way. That’s how I felt as a synagogue Vice President for about a year. As a 27-year ERISA attorney, I have encountered so many 401(k) plan...more

Verrill

Does ERISA Work?

Verrill on

On Labor Day, September 2, 1974, Gerald Ford signed the Employee Retirement Income Security Act (“ERISA”) into law. ERISA governs the employee benefit plans (i.e., retirement and welfare plans) of most private employers in...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Managed Accounts have room to grow

Sponsors of 401(k) plans are increasingly recognizing the need to provide personalized investment options for their participants; however, access to managed accounts still remains limited....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Thing You Have To Fear As A 401(k) Plan Sponsor

I n his inauguration speech, Franklin Delano Roosevelt said that “the only thing we have to fear is fear itself.” 401(k) plan sponsors have more to fear than fear itself except the problem is that they’re unaware that they...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

I hate surprises and make sure plan sponsors don’t have any

Most plan screwups happen when either the plan provider doesn’t ask and/or the plan sponsor doesn’t volunteer. It either involves another plan or another affiliated or similarly owned company. As a plan provider, you could...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Sweet Little Lies That A 401(k) Plan Provider May Tell You

They say the truth shall set you free, so that means a lot of 401(k) plan providers who tell sweet little lies in their sales pitch, are prisoners. There are many lies you might hear in a sales pitch, and these are the lies...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

How 401(k) Plan Providers Can Write Great Content

When I started at a law firm over 16 years ago, my idea was to start a National practice that was devoted to ERISA and single-employer re- tirement plans. The idea was that utilizing the law firm’s existing clientele to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Don’t Let Your 401(k) Plan Turn Into A Natural Disaster

Having survived Hurricane Sandy with 5 feet of water downstairs, I’ve had my fill of natural disas- ters. Whether it’s climate change or not, the weather is more unstable than ever be- fore. Whether it’s 70 degrees by me in...more

Seyfarth Shaw LLP

Federal District Court Dismisses Another 401(k) Forfeitures Suit

Seyfarth Shaw LLP on

Since September 2023, there have been at least 25 lawsuits filed claiming the ability to choose between using 401(k) forfeitures to reduce plan expenses or the plan sponsor’s contributions is a fiduciary choice, and that...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Things That Shouldn’t Impress You From 401(k) Plan Providers

When I was a kid in day school in Brooklyn, we had a classmate whose shtick was that he was rich. He wasn’t rich, his father was a pa- thologist who worked at a city hospital, his mother didn’t work, and they rented a nice...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Gomez admit some Trump reversals are inevitable

Assistant Secretary of Labor and Employee Benefits Security Administration head Lisa Gomez predicted major changes to retirement security regulations and financial fiduciary standards when Donald Trump returns to the White...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Make sure what that it works

At home, I have Verizon FIOS for TV and the Internet after having my cable provider, Optimum for about 13 years. A few years ago, I was enticed to re-sign with Optimum and their new Altice converter box/router....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

401(k) Plans, 2025, and You, The 401(k) Plan Sponsor

Iremember as a kid in the 1980s, being fascinated that 2000 was upon us. Now, we are almost 25 years in, and 2025 is just around the corner. The beauty of the 401(k) plan business is that it’s constantly changing, it’s way...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

When 401(k) Plan Sponsors Have To Say No

When I was a kid, I was rather shy. It certainly didn’t help that my parents were domineering. Even as an adult, I would always try to be agree- able and try to get along by not saying no. For the past 14 years with my...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Plans paying more? Well, yeah

I read that a recent study showed the 80% of 401(k) plans are overpaying in fees. Tell me something I don’t know. For most small and medium-sized plans, there is absolutely no check by the plan sponsors on whether the fees...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

End of The Year Tips for 401(k) Plan Sponsors

With Thanksgiving done, we look to the holidays and the New Year. While many of us are busy shopping for loved ones, many businesses and individuals have their eyes geared towards next year. As a retirement plan sponsor, you...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Avoiding 401(k) Problems With Former Employees

Ialways say that the real reason I never hired employees for my law firm is that I was once an employee too. That means that no matter what my employer could do, there would probably be some- thing I still would complain...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Have A Small Plan Or Forced To Offer One? Consider Joining A 401(k) PEP

Having a small plan like a SEP a SIMPLE or a Solo 401(k) Plan may make sense from a financial standpoint. The problem is like I felt when I was an associate attorney at some “fak- akta” (my favorite Yiddish word) Long Is-...more

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