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Retirement Plan › Third-Party › Employee Benefits

Verrill

Plan Sponsors: How much thought have you given to your defined contribution retirement plan’s default beneficiary hierarchy?

Verrill on

Despite efforts by plan sponsors and third-party administrators/plan recordkeepers to communicate to defined contribution retirement plan participants the importance of designating a beneficiary to receive any remaining...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Be Choosy When Picking Your 401(k) Plan’s TPA

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

I was very lucky that when I started as an ERISA attorney in 1998, I worked as a staff attorney for a third-party administrator (TPA). It gave me insight and experience that I could never have gotten as an attorney working...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

They’ll make the mistake and leave you to dry

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

At work and at home, one of the worst things I ever did was make a mistake and not accept responsibility for it. Instead of owning up, I would make excuses, turning the fight over the mistake into a bigger issue than the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Picking the cheapest provider can be a breach of fiduciary

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

When it comes to health and fitness, you constantly hear studies about what foods fight or cause cancer. Of course, those studies are then debunked. I remember how oat bran was cited to cut down on cholesterol and how...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

There is no such thing as free administration

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

In England, many of the top pubs are owned by British breweries because watering holes are an effective means of beer distribution. Pepsico (owners of Pepsi) used to own Yum Brands (KFC, Taco Bell, Pizza Hut, etc.) for that...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The truth about index funds and fee disclosure

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

I’ve always been a big fan of index funds, probably more so when exchange-traded funds became a thing. From experience, most funds fail to meet the benchmarks. Yet, I grew up in the retirement plan business when it was...more

Husch Blackwell LLP

Anatomy of an ESOP

Husch Blackwell LLP on

ESOPs can pay fair market value for the stock: Stock purchased by an ESOP must be appraised by an independent third party expert working with a trustee for the ESOP who must also be independent from the seller. The ESOP is...more

Pullman & Comley - Labor, Employment and...

Mortgage or other Third Party Loan Investments in Your Plan?  Do they Pass Muster under IRS Issue Snapshot?

Pullman & Comley - Labor, Employment and... on

The IRS Issue Snapshot-Third Party Loans from Plans dated August 23, 2022 is a short advice document for examiners to use when auditing tax-qualified retirement plans that invest in mortgages or other third party loans. IRS...more

Wiley Rein LLP

Sixth Circuit Holds E&O Policy’s ERISA Exclusion Bars Coverage for Claims Against Trustee of Employee Stock Ownership Program

Wiley Rein LLP on

Applying Ohio law, the United States Court of Appeals for the Sixth Circuit has concluded that an ERISA exclusion in a professional services liability insurance policy barred coverage for all ERISA-related Claims made against...more

Dentons

Even the DOL is Issuing Cybersecurity Instructions

Dentons on

In April, the Department of Labor, specifically the Employee Benefits Security Administration, issued cybersecurity guidance to assist in protecting “the retirement benefits of America’s workers.”  This guidance falls neatly...more

Best Best & Krieger LLP

CalPERS Board Decision on Contract Workers Will Not Become Precedential. Now What? - Contract Workers May Still Be Reclassified as...

Best Best & Krieger LLP on

The CalPERS Board of Administration will not consider whether to establish the Tracy Fuller decision as a CalPERS precedent, we have confirmed. While the decision to not pursue Fuller as a precedential decision is welcome...more

Robinson & Cole LLP

How Secure is Your Retirement Plan?

Robinson & Cole LLP on

Most employers are generally aware of their fiduciary status as a “plan sponsor” of an ERISA-governed retirement plan (e.g., 401(k) and 403(b) plans). In fact, the employer’s hiring of a service provider is in and of itself a...more

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