The SECURE Act: Significant Changes for Retirement Plans and IRAs
Videocast: Asset management regulation in 2020 videocast series – DOL: What’s ahead
A Supreme Court decision in April made it easier for plaintiffs to keep ERISA prohibited transaction claims in play longer, and just days later a rare ERISA trial resulted in a huge win for a class of 401(k) plan...more
A federal court in Wisconsin recently allowed a putative ERISA class action in Lucero v. Credit Union Ret. Plan Ass’n to proceed to discovery on the claim that a 401(k) plan paid excessive recordkeeping fees. This decision...more
The Department of Labor (DOL) announced changes to Form 5500. For Multiple Employer Plans (MEPs), new codes have been added to Line 8a of Part II to identify different types of MEPs, such as pooled employer plans,...more
The Department of Labor’s Employee Benefits Security Administration (EBSA) released their final revisions to the Form 5500 and the Form 5500-SF Short Form Annual Return/Report of Small Employee Benefit Plan for the 2021 plan...more
Whether it’s a single employer plan, a multiple employer plan (MEP), a pooled employer plan (PEP), or a plan provider, they can always be a target for ERISA litigation....more
Multiple employer plans (MEPs) have become larger targets for litigation when they achieve a plan of substantial size....more
I rarely talk about legislation because so many bills over the years get proposed with zero action by Congress. It took more than 4 years for Roth 401(k) plans to be a thing. However, I want to take time to talk about...more
I'm a big fan of business history when it comes to brilliant business moves, as well as some pretty awful ones. In terms of bad business decisions, I always find it amusing when I can spot one when it's made and I could see...more
If you become big enough, you can get sued. That is the lesson I tell everyone when someone mentions to me when a large plan provider or a large plan gets sued. Jerry Schlicter’s law firms has targeted the Pentegra Defined...more
In the movie Casino, Robert Deniro’s character Lefty Rosenthal warns Joe Pesci’s character Nicky Santoro that his actions will get him into the Gaming Control Board’s “Black Book”, which means he would be banned from all...more
The SECURE Act: What It Is And What It Is NOT - As part of a large year-end piece of legislation, the provisions known as the Setting Every Community Up for Retirement Security Act (the “SECURE Act”) were enacted into...more
The Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law late last month and makes significant positive changes impacting retirement plans. Many of the provisions are effective today, so...more
The SECURE Act, included as part of the Further Consolidated Appropriations Act, 2020, was signed into law on December 20, 2019. This new law contains many significant changes that may impact employer-sponsored benefit plans....more
On December 20, 2019, President Trump signed the Further Consolidated Appropriations Act, 2020 (the “Appropriations Act”) that includes the “Setting Every Community Up for Retirement Enhancement Act of 2019” (the “SECURE...more
Thanks to renewed interest in. multiple employer plans (MEPs), I will always get the phone call from someone interested in setting up a multiple employer plan. That person might be an advisor, third party administrator (TPA),...more
In response to an Executive Order issued by the President last year directing regulatory action to expand access to workplace retirement plans, the U.S. Department of Labor (DOL) issued final regulations on the definition of...more
The DOL’s newly released final regulation on “Association Retirement Plans” (ARPs) will make it easier for groups and associations of employers to jointly sponsor a combined 401(k) or other defined contribution plan. (These...more
• The U.S. Department of Labor (DOL) has published its Final Rule clarifying the circumstances under which an employer group or association or a professional employer organization (PEO) could sponsor a multiple-employer...more
The House recently passed the most significant piece of proposed retirement plan legislation in more than a decade: the SECURE Act. Although the Senate must also approve the bill before it becomes law, its proposed changes...more
Mistakes An Employer Needs To Avoid When Starting A 401(k) Plan. It's important to get off the right foot. I'm a firm believer that you need to get off on the right foot if you start something new. Otherwise, you have a...more