One question that often comes up is whether an expense related to an ERISA plan can be paid with plan assets. The decision of whether to use ERISA plan assets to pay an expense is an ERISA fiduciary decision. With the recent...more
3/13/2023
/ 401k ,
Allowable Expenses ,
Audits ,
Benefit Plan Sponsors ,
Corporate Governance ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
IRS ,
New Guidance ,
Retirement Plan
Plan sponsors of defined contribution plans such as 401(k) plans will soon have to provide participants with illustrations of just how much a participant’s account balance might produce on a monthly basis if converted to a...more
One of the employee benefits items tucked into the recently-passed Consolidated Appropriations Act, 2021 (the “Act”) will soon require group health plan service providers to issue fee disclosures.
Service providers to...more
The IRS has eased the restrictions on mid-year changes to safe harbor contributions, in response to the hardships caused by the coronavirus pandemic.
Employers are generally not allowed to reduce or suspend safe harbor...more
After being on the verge of enactment last spring but failing to pass, the SECURE Act is now law. The Setting Every Community Up for Retirement Enhancement Act of 2019 – the SECURE Act – was enacted on December 20, 2019 as...more
3/11/2020
/ 401k ,
457(b) Plans ,
Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
New Rules ,
Required Minimum Distributions ,
Retirement Plan ,
SECURE Act ,
Summary Plan Description ,
TPAs