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Retirement Plan › Benefit Plan Sponsors › Penalties

Bricker Graydon LLP

Don’t Forget About the IRS When Correcting Delinquent Plan Contributions

Bricker Graydon LLP on

Employers that do not timely deposit participant deferrals and loan contributions to their employer sponsored retirement plans can be subject to Department of Labor (DOL) penalties for breaching their fiduciary duties....more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - Forfeitures Under Fire

Williams Mullen on

On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt unpacks the growing legal controversy surrounding the use of forfeitures in retirement plans. With numerous lawsuits recently filed, plan sponsors...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

How 401(k) Plan Sponsors Can Be Pro-Active

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

As a 401(k) plan sponsor, you need to understand that not only is the plan a great benefit for you and your employees, but it has some negative aspects if you’re not proactive in maintaining it. If you ignore your 401(k)...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Tales Of The TPAs: The Good, The Bad, And The Ugly

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

As I have always said, the most important 401(k) plan provider you can hire is a Third-Party Administrator (TPA). That’s because a TPA does so much work, and their incompetence can lead to you getting penalized or forcing you...more

Morrison & Foerster LLP

Sorry I’m Late: New Guidance on Late Contributions

Morrison & Foerster LLP on

Twenty (20!) years after it last issued guidance, the DOL’s Employee Benefits Security Administration has finally released an updated Voluntary Fiduciary Correction Program (VFCP). VFCP is a program that permits retirement...more

Groom Law Group, Chartered

Year-End Challenges and Opportunities: Congress Passes SECURE Act, Caddy Tax Repeal, and More

Groom Law Group, Chartered on

On Thursday, December 19, the Senate passed two spending bills to fund the government through September 30, 2020, one of which (H.R. 1865, the “Further Consolidated Appropriations Act of 2020” or the “Act”) contains the...more

Faegre Drinker Biddle & Reath LLP

Congress (Finally) Passes the SECURE Act

Faegre Drinker Biddle & Reath LLP on

After a delay of several months, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act, clearing the way for one of the most substantial pieces of retirement plan legislation in years to...more

Holland & Knight LLP

Summary Plan Descriptions Required for All ERISA Retirement, Health and Welfare Plans

Holland & Knight LLP on

• Administrators of all employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) should ensure their plans' compliance with ERISA's Summary Plan Description (SPD) requirement. •...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Furnish those documents to Plan Participants or Pay Through The Nose

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

Plan sponsors should understand that under ERISA, plan participants are entitled to certain disclosures and documents. We should all know that a participant is entitled to the summary plan description, summary annual report,...more

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