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Retirement Plan › Compliance › Penalties

Kelley Drye & Warren LLP

Simplified Option for Correcting Certain Retirement Plan Failures

Kelley Drye & Warren LLP on

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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

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

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

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

Proskauer - Employee Benefits & Executive...

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

Proskauer - Employee Benefits & Executive... on

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

Cole Schotz

RetireReady NJ: Reminder About The Requirements Under The New Jersey Secure Choice Savings Program Act

Cole Schotz on

Employers with at least 25 employees in New Jersey that do not already offer a qualified retirement plan to employees must take action to facilitate the RetireReady NJ Retirement Savings Program (“RetireReady NJ”)....more

Bracewell LLP

Comprehensive WARN Act FAQ for Employers in the Energy Sector

Bracewell LLP on

The US energy sector’s ongoing consolidation wave, which saw $250 billion worth of deals in 2023 and continues into the current year, is reshaping the industry landscape. As companies seek to deploy cash reserves and enhance...more

Flaster Greenberg PC

Compliance Alert: RetireReady NJ Program Coming Soon

Flaster Greenberg PC on

The State of New Jersey is making a state-administered retirement savings program available to eligible workers who do not have qualifying retirement savings plans through their employer. This is an innovative approach to...more

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