News & Analysis as of

401k Department of Labor (DOL) Benefit Plan Sponsors

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Predictions In The 401(k) Space

Whether it’s a presentation or an article, predictions over the fu- ture don’t usually add up. Sure, then the 1964 World’s Fair predicted video phone calls, we all still don’t have our jet- packs, and an article on the Mets...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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

In Praise Of Fee Disclosure

People who didn’t sponsor a plan or weren’t involved in the retirement plan industry before 2012, think some 401(k) industry veterans like myself, are part of some multiverse when we talk about life before fee disclosure. The...more

Kaufman & Canoles

ESOPs, Benefits & Compensation Q2 2024 Client Update

Kaufman & Canoles on

On behalf of the ESOPs, Benefits & Compensation team, we hope your Summer is off to a great start. In the time of family vacations and out-of-office replies, the pace of employee benefits changes—both large and small—remains...more

Bricker Graydon LLP

Did Your Auditors Find an Error During Your Plan Audit?

Bricker Graydon LLP on

It is the first week of summer, even though in Ohio the smoldering heat has made it feel like summer for weeks now. Summer reminds many of us of pool days, eating watermelon and corn on the cob, Fourth of July fireworks, and...more

Jackson Lewis P.C.

Why Retirement Plan Sponsors and Fiduciaries Need to Know about the SEC Cybersecurity Amendments

Jackson Lewis P.C. on

In 2021, the Department of Labor (DOL) issued cybersecurity guidance for ERISA-covered retirement plans. The guidance expands the duties retirement plan fiduciaries have when selecting service providers. Specifically, the DOL...more

Pillsbury Winthrop Shaw Pittman LLP

DOL Expands Investment Advice Subject to Fiduciary Liability

Following previous failed attempts to expand the fiduciary liability of financial services providers, the DOL released a new rule that broadens the definition of “fiduciary” under ERISA. The new rule is expected to face...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - April 2024

The April Monthly Minute looks at a recent court decision highlighting ERISA’s preemptive power in response to a 401(k) garnishment claim and explores the DOL’s latest steps towards creating an online search tool intended to...more

Smith Gambrell Russell

DOL Finalizes Investment Fiduciary Rule

Smith Gambrell Russell on

On Tuesday, April 23, 2024, the Department of Labor (the “DOL”) issued final regulations regarding investment fiduciary obligations and the definition of an “Investment Advice Fiduciary” (the “Final Regulations”) under the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Oh, The Brutal Mistakes That 401(k) Plan Sponsors Make

A 401(k) plan has so many moving parts, that errors do happen. I always say that if you want to find a mistake within a plan, you will eventually find one. However, there is a simple difference between common mistakes and...more

Patterson Belknap Webb & Tyler LLP

Does Your Retirement Plan Need a 'PLESA'?

Pension-Linked Emergency Savings Accounts (“PLESAs”) are a special retirement plan feature created under SECURE ACT 2.0. PLESAs were first permitted to be made available to participants as of January 1, 2024. PLESAs, which...more

Kaufman & Canoles

ESOPs & Employee Benefits Q1 2024 Client Update

Kaufman & Canoles on

On behalf of the ESOPs & Employee Benefits team, we hope you’re enjoying the first days of Spring, when the longer days allow more time to ponder the ever-changing landscape of employee benefits compliance. Please find below...more

Bricker Graydon LLP

Knock Knock, Is Anyone Home? Do You Know Where Your “Missing” Retirement Plan Participants Are?

Bricker Graydon LLP on

In the laundry list of retirement plan administrative and operational requirements, plan sponsors may sometimes overlook their obligations with respect to terminated vested employees. Even though these individuals have left...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

401(k) Plan Providers Need To Be Secure After SECURE

While I took a couple of courses on ERISA and retirement plans for my Boston University Tax L.LM degree, my real education began in September 1998 when I worked for Harvey Berman, who co-owned a third-party administration...more

Davis Wright Tremaine LLP

SECURE 2.0 Medley – IRS and DOL Guidance for Plan Sponsors on Recent Changes

The Internal Revenue Service and U.S. Department of Labor recently issued guidance on various aspects of the Consolidated Appropriations Act of 2023, commonly referred to as SECURE 2.0. Below is a summary of key provisions...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

These Things You Can’t Afford To Neglect About Your 401(k) Plan

We all know from your health, that if you neglect certain things, it will hurt you later down the line. Whether it’s your heart or your teeth, neglecting important health issues is only going to make the situation worse. The...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Do What The Other 401(k) Plan Providers Are Not Doing

When I started my practice 13 years ago, I knew that I wanted to be different. I looked at what the competition was doing and decided to do things differently. If the other law firms were charging by the hour, I was going to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

401(k) Plan Sponsors Need To Sweat The Small Stuff

They say that you shouldn’t sweat the small stuff. As a kid from Brooklyn, I do sweat the small stuff. When they say that you shouldn’t sweat the small stuff, they mean that you should not focus your energy on things that...more

Quarles & Brady LLP

2023 Year-End Employee Benefits Updates

Quarles & Brady LLP on

This newsletter provides updates employers should be aware of heading into 2024, including an outline of the updated 2024 retirement and welfare plan limits, instructions related to the “gag order” attestation requirements...more

Faegre Drinker Biddle & Reath LLP

IRS Announces 2024 Retirement Plan Limits

The IRS recently announced the 2024 cost-of-living adjustments to various benefit and contribution limits applicable to retirement plans. The IRS modestly increased the applicable limits for 2024. The following limits apply...more

Holland & Hart - The Benefits Dial

The Time Has Come, A Fact’s A Fact: Consider Adding a Welfare Plan Committee

The time may have come to add a welfare plan committee to your company’s governance of employee benefit plans. New legal obligations and other developments impose fiduciary risks for welfare plans similar to what already...more

Kaufman & Canoles

ESOPs & Employee Benefits Q1 2023 Client Update

Kaufman & Canoles on

Welcome to Spring! We hope the new season finds you ready for the upcoming benefits changes that 2023 has in store. ...more

Bradley Arant Boult Cummings LLP

SECURE 2.0: Changes Affecting Defined Benefit Pension Plans

Enacted last December as part of omnibus appropriations legislation, the “Securing a Strong Retirement Act of 2022” (SECURE 2.0) includes a number of provisions that have an impact on retirement plan administration, effective...more

Holland & Hart - The Benefits Dial

Should I Pay Or Should I No(t) Now: Which Expenses Can be Paid with Plan Assets?

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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Putnam adds ESG Target Date Funds to their lineup

With the new Department of Labor (DOL) rules on ESG funds, it should be no shock that mutual fund companies starting mutual fund offerings for 401(k) fund lineups. Putnam has launched the Putnam Sustainable Retirement Funds...more

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