News & Analysis as of

Retirement Plan Compliance

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Roth Catch-Up Chaos is coming

Plan sponsors and recordkeepers let out a collective sigh of relief when the Roth catch-up contribution requirement under SECURE 2.0 was delayed until 2026. And for good reason—this rule, though well-intentioned, brings with...more

Jackson Lewis P.C.

Harnessing AI Under ERISA: A Compliance and Oversight Guide for Retirement and Health Plan Fiduciaries

Jackson Lewis P.C. on

It is increasingly evident that artificial intelligence (AI) is reshaping all facets of business, and its impact on employee benefit plans is no exception. From automating plan administration to personalizing participant...more

Kelley Drye & Warren LLP

Simplified Option for Correcting Certain Retirement Plan Failures

Earlier this year, the U.S. Department of Labor (“DOL”) amended its Voluntary Fiduciary Compliance Program (“VFCP”) to provide retirement plan sponsors with a simplified option for correcting certain specified prohibited...more

A&O Shearman

UK Pensions: Joint DB and DC trustee agenda—August 2025

A&O Shearman on

Welcome to our monthly update on current legal issues for trustees of DB and hybrid pension schemes, designed to help you stay up to date with key developments between trustee meetings and to support the legal update item on...more

A&O Shearman

UK Pensions: what’s new this week? July 21, 2025

A&O Shearman on

Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. Mansion House speech - The chancellor gave her second...more

Foster Swift Collins & Smith

IRS Expands Self-Correction Program: What Plan Sponsors Need to Know About the Interim Guidance

The IRS has made it easier for retirement plan sponsors to fix common plan mistakes without going through a formal filing process. Under interim guidance in Notice 2023-43, sponsors can now correct a broader range of errors...more

Verrill

Do We Have to Make It a Top Hat Plan?

Verrill on

Employers and their compensation advisors often assume that an arrangement to pay employees in the future for work done over time will be subject to the rules for ERISA pension plans unless it is limited to a “select group of...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Late 5500s: The Maddening Decision Not to Use the DFVCP

There are few things more maddening, more viscerally frustrating, than watching a plan sponsor or service provider steer themselves into the abyss out of sheer pride or ignorance—or worse, some toxic blend of both. But in the...more

Epstein Becker & Green

Hot Topics in Employee Benefits: A Primer for In-House Lawyers

“ERISA, you’ll need a lawyer for that.” Our practice group’s tagline is meant to be a shorthand for the alphabet soup of laws that apply to employee benefits, including the Employee Retirement Income Security Act (ERISA)....more

Jackson Lewis P.C.

New DOL/EBSA Opinion Letter Program Offers A Path to Clarity for Plan Sponsors

Jackson Lewis P.C. on

On June 2, 2025, the U.S. Department of Labor (DOL) announced a significant expansion of its compliance assistance tools by launching an Opinion Letter Program across five key enforcement agencies, including the Employee...more

Foley & Lardner LLP

Common Mistakes and Practical Advice When Acquiring a Company with a 401(k) Plan

Foley & Lardner LLP on

When acquiring a company that offers its employees retirement benefits via a 401(k) plan, a lot can go wrong and recent law changes and litigation trends have created more complications. Buyers who fail to understand and...more

Foley & Lardner LLP

Tricky Compliance Issues for Companies When an Executive Terminates Employment: Executive Severance Plans

Foley & Lardner LLP on

Executive employment relationships are rarely permanent. When an executive or other senior-level employee terminates employment, companies often must deal with difficult tax, equity, and benefits issues that arise in the...more

DLA Piper

Trending in Transactions - Q1 2025

DLA Piper on

Recent legislation requires that all new 401(k) plans provide automatic enrollment for all eligible participants. However, plans “established” before 2023 are generally exempt. In the mergers and acquisitions (M&A) context,...more

Foster Swift Collins & Smith

Navigating Long-Term Part-Time Employee Eligibility Rules for 401(k) Plans

The landscape of retirement plan eligibility is shifting, and plan sponsors need to prepare for key compliance changes affecting long-term part-time (“LTPT”) employees. These new rules, mandated by the SECURE Act of 2019 and...more

Foley & Lardner LLP

Mandatory Roth Catch-up: More than Meets the Eye

Foley & Lardner LLP on

In January, the Department of the Treasury (“Treasury”) and Internal Revenue Service (IRS) issued proposed regulations on the catch-up contribution provisions under the SECURE 2.0 Act of 2022 (“SECURE 2.0”). While the...more

Polsinelli

ESOP Transactions and the Duty to Monitor Revisited

Polsinelli on

Key Takeaways: Board’s Duty to Monitor the Trustee: A company’s board of directors has a fiduciary duty to monitor the ESOP trustee’s actions in an ESOP transaction, ensuring that the trustee is acting in the exclusive...more

Best Best & Krieger LLP

403(B) Plan Employer Eligibility Failures

One of the principal drivers of 403(b) Plans for governmental agencies is that when they are combined with a governmental 457(b) Plan, employees eligible for both plans may “double dip.” This is a common scenario for...more

A&O Shearman

Pensions: what's new this week - March 17, 2024

A&O Shearman on

Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. Minister's speech on pensions policies - The Pensions...more

Proskauer - Employee Benefits & Executive...

New “Self-Correction” Option for Voluntary Fiduciary Correction Starts March 17, 2025

Starting March 17, 2025, the Employee Benefits Security Administration’s Voluntary Fiduciary Correction Program (“VFCP”) will have a “self-correction” option. Although the new option eliminates the need to wait for formal...more

Snell & Wilmer

Five Things to Know about the DOL’s New VFCP Self-Correction Feature Taking Effect Next Week

Snell & Wilmer on

By Amberlee Lapointe On January 14, 2025, the DOL’s Employee Benefits Security Administration (“EBSA”) released updates to its Voluntary Fiduciary Correction Program (“VFCP”), along with a News Release and Fact Sheet...more

A&O Shearman

Pensions in dispute - March 2025

A&O Shearman on

Welcome to our quarterly pensions litigation briefing, designed to help pensions managers identify key risks in scheme administration, and trustees update their knowledge and understanding. This briefing highlights recent...more

ArentFox Schiff

ESG Update: Texas Federal Court Cites Loper Bright in Upholding Biden-Era ESG 401(k) Investing Rule

ArentFox Schiff on

A Biden-era US Department of Labor (DOL) Rule permitting consideration of environmental, social, and governance (ESG) factors when choosing investments as a “tiebreaker” was recently upheld by Texas federal Judge Matthew...more

A&O Shearman

UK Pensions: what's new this week - March 3, 2025

A&O Shearman on

Welcome to your weekly update from the A&O Shearman pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. Neonatal care leave from April 6, 2025: New regulations - ...more

Proskauer - Employee Benefits & Executive...

SECURE 2.0’s Required Changes to Annual Funding Notices Become Effective in 2025

SECURE 2.0 introduced many changes for retirement plans, including updated disclosure requirements for a defined benefit plan’s annual funding notice (AFN). These updated AFN disclosure requirements apply for all plan years...more

Foley & Lardner LLP

Is Your Nonprofit Slashing Benefits to Offset Federal Funding Cuts?

Foley & Lardner LLP on

On February 6, 2025, the Trump administration (the Administration) issued an executive order (the Review Order) directing the heads of Federal executive departments and agencies (Agencies) to review all funding the Agencies...more

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