News & Analysis as of

Employee Retirement Income Security Act (ERISA) 401k

Proskauer - Employee Benefits & Executive...

Sixth Circuit Again Invalidates ERISA Plan Arbitration Clause

The Sixth Circuit recently reversed a district court’s dismissal, and order requiring arbitration of, a proposed class action alleging fiduciary breaches in connection with the Kellogg Company 401(k) plan. Fleming v. Kellogg...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - October 2024

The October Monthly Minute highlights two recent retirement plan cases, one in which the court sides with the plan and emphasizes plan administrative review over specific investment results and another where plaintiffs are...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (52): The Loper Bright Decision and What it Means for DOL Exemptions (2)

As I explained in my last post, Fiduciary Rule 51, I have been asked whether the Supreme Court’s decision in Loper Bright Enterprises et al. v. Raimondo, Secretary of Commerce et al. could affect the outcome of the litigation...more

Miller Canfield

IRS Issues FAQs Regarding Long-Term Part-Time Employees in 403(b) Plans

Miller Canfield on

The IRS recently issued Notice 2024-73, which provides much-needed guidance on long-term, part-time (“LTPT”) employees in ERISA-governed 403(b) retirement plans. Following passage of the SECURE 2.0 Act, an employee is...more

Kaufman & Canoles

ESOPs, Benefits & Compensation Q3 2024 Client Update

Kaufman & Canoles on

Fall greetings from the Kaufman & Canoles ESOPs, Benefits & Compensation team. We hope you’re enjoying the cooler weather, changing leaves, and—of course—the continual pace of change in employee benefits. Please find below a...more

Groom Law Group, Chartered

Long-Term, Part-Time Employee Guidance for Section 403(b) Plans (and Two-Year Extension for 401(k) Regulations)

On October 3, 2024, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) issued Notice 2024-73 (the “Notice”) to clarify eligibility rules for long-term, part-time (“LTPT”) employees in 403(b)...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Offering Self Directed Brokerage Accounts In A 401(k) Plan Can Give You a Good Headache

In the movie “Back to School,” Thornton Melon, played by Rodney Dangerfield laments that his second wife, Vanessa is a pain and gives a “great headache.” While participants, namely business owners, want a self-directed...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Avoid An IRS Audit Surprise By Checking These Areas Of Your 401(k) Plan

Idon’t like surprises and when a 401(k) plan gets a notice about an impending Internal Revenue Service (IRS) audit, the best thing to do is not sit back and do nothing. In addition to collating all the ma- terials that the...more

Holland & Hart - The Benefits Dial

Heads California, Tails Carolina… Employer Considerations Following Wave of 401(k) Forfeiture Lawsuits

Over the past year, numerous employers and their 401(k) plan fiduciaries have faced lawsuits regarding how forfeited employer contributions to their 401(k) plan are utilized. This wave of lawsuits began approximately a year...more

Carlton Fields

Changes for Producer Award Trips at IMOs? Fiduciary Rule Suggests Turbulence Ahead

Carlton Fields on

In April 2024, the U.S. Department of Labor issued its long-awaited retirement security rule, also known as the fiduciary rule, broadening the definition of who is an “investment advice fiduciary” under the Employee...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Dealing With 401(k) Industry Consolidation As A Plan Provider

Unless you have been living under a rock or in a cave for the past dozen years, there has been a lot of consolidation in the retirement plan busi- ness. For many, it’s a great thing and for many, it’s not. As a retirement...more

Holland & Hart - Employers' Lawyers

Employer Considerations Following Wave of 401(k) Forfeiture Lawsuits

Over the past year, numerous employers and their 401(k) plan fiduciaries have faced lawsuits regarding how forfeited employer contributions to their 401(k) plan are utilized. This wave of lawsuits began approximately a year...more

Groom Law Group, Chartered

Defendants Secure Another Win on Discretionary Use of 401(k) Plan Forfeitures

On September 19, 2024, the Southern District of California dismissed claims brought by a 401(k) plan participant against Thermo Fisher Scientific Inc. regarding the use of forfeitures to offset future employer contributions. ...more

Kelley Drye & Warren LLP

Colgate-Palmolive 401(k) Theft Case Settles on Undisclosed Terms, Leaving Open Questions

Many who work with defined contribution plan administrators and consult plan sponsors on their ERISA fiduciary duties have been carefully monitoring Disberry v. Employee Relations Committee of the Colgate-Palmolive Company...more

Holland & Hart - The Benefits Dial

Both Sides Now… Must Be Alert to Cybersecurity

by Becky Achten New guidance from the Employee Benefits Security Administration (EBSA) affirms that both sides—retirement plans and welfare plans—must take steps to secure participant data from cybercrime. In 2021 the...more

Warner Norcross + Judd

50 Years of ERISA: Reflecting on the Past, Present and Future of Employee Benefits

Warner Norcross + Judd on

As we celebrate the 50th anniversary of the Employee Retirement Income Security Act of 1974 (ERISA), it is important to reflect on the impact this legislation has had on private sector employee benefit plans such as...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Essential Plan Providers Needed For A 401(k) Plan

When people are sick, especially with debilitating illnesses or diseases, it’s natural for them to travel far and wide to get the best medi- cal coverage possible. People who are ill will try to find the best medical coverage...more

Warner Norcross + Judd

Attention Auto Suppliers: Don’t Leave Money on the Table Through Unused Retirement Forfeitures and Unallocated Accounts

We understand that running an automotive supplier business involves more than just industry-specific issues. That's why we regularly provide important insights and tips on broader legal trends to help you navigate challenges...more

Jackson Lewis P.C.

Class Action Alleges “Scheme” by TIAA and Morningstar to Drive Participants into TIAA’s Most Profitable Funds

Jackson Lewis P.C. on

On August 5, three Named Plaintiffs sued TIAA and Morningstar in the S.D.N.Y., claiming Defendants engaged in a “scheme to enhance corporate profits” by counseling participants to invest in two of TIAA’s most lucrative...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The nuisance value

When I write about the need for plan sponsors to understand their responsibilities as plan fiduciaries and their potential liability if they ignore their duties, I hear the same complaints about my ideas. The complaint which...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

401(k) Plan Sponsors, This Is Your Wakeup Call

One of the great things about my iPhone is the alarm that serves as my wake-up call, whether at home or on the road. When it comes to being a retirement plan sponsor, employers never had a wake-up call about their fiduciary...more

Proskauer - Employee Benefits & Executive...

Eleventh Circuit Reiterates that Burden of Proving Loss Causation Stays with Plaintiffs

The Eleventh Circuit Court of Appeals recently affirmed a district court’s grant of summary judgment in favor of the fiduciaries of the Home Depot 401(k) plan, who defended against claims that they breached their fiduciary...more

Morgan Lewis - ML Benefits

Retirement Plans: Bona Fide Job-Based Exclusion or Impermissible Service Condition?

Employers utilizing class-based criteria to exclude employees from retirement plan participation face new issues and considerations following the adoption of the long-term part-time employee (LTPTE) rules in SECURE 1.0 and...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

This Stuff Won’t Help You Limit Your 401(k) Plan Sponsor Liability

Ihave tried Chromium Picolinate for the last 25 years and I didn’t think it makes me lose weight and that Vitamin C hasn’t stopped a cold. The same can be said about statin supplements that haven’t lowered my Cholesterol....more

Lathrop GPM

Retirement Security Fiduciary Rule Stayed

Lathrop GPM on

Under recently finalized federal regulations (commonly referred to as the “Fiduciary Rule”) that were scheduled to become effective on September 23, 2024, the U.S. Department of Labor intended to expand the fiduciary...more

1,212 Results
 / 
View per page
Page: of 49

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide