News & Analysis as of

Benefit Plan Sponsors Department of Labor (DOL) Retirement Plan Providers

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.

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

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

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

Eversheds Sutherland (US) LLP

DOL opines on plan sponsor’s diverse investment manager program

The Department of Labor (DOL) recently advised that a program under which Citigroup Inc. (Citi) subsidizes investment management fees for its employee benefit plans’ diverse investment managers could be implemented without...more

Poyner Spruill LLP

BREAKING NEWS: Change in Participant Count Methodology for Plan Audit Threshold

Poyner Spruill LLP on

We come with breaking news that will be welcomed by many smaller plan sponsors! The DOL has amended the Form 5500 forms and instructions for 2023 and significantly changed how a plan sponsor counts participants for...more

BakerHostetler

The Growing Threat to ESG Initiatives

BakerHostetler on

On Jan. 26, 2023, twenty-four states sued the Department of Labor to block a new rule allowing retirement plans to consider environmental, social, and governance concepts (known as ESG) when administering plan assets. The...more

Latham & Watkins LLP

DOL Final Rule on ESG Factors to Take Effect February 1, 2023

Latham & Watkins LLP on

The Final Rule clarifies the application of ERISA’s fiduciary duties of prudence and loyalty to the selection of plan investments that incorporate ESG goals. On November 22, 2022, the US Department of Labor (DOL) released a...more

Proskauer - Employee Benefits & Executive...

SECURE 2.0 Act of 2022 Arrives: (Another) Landmark Retirement Package

The wait is over for SECURE 2.0, a long-awaited (and debated) package of retirement plan reforms.  Today, Congress passed the “SECURE 2.0 Act of 2022” as part of the 2023 Consolidated Appropriations Act; President Biden is...more

Parker Poe Adams & Bernstein LLP

DOL Removes Certain Restrictions on ESG Considerations in ERISA Plan Investment Management

In November, the Department of Labor (DOL) issued a final rule (Final Rule) that will remove certain restrictions on environmental, social, and governance (ESG) considerations in plan investments. These restrictions were...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Criticism is fine

When I was at law school at American University Washington College of Law, I was the Executive Editor of The American Jurist, which was the student newsmagazine for my final year of law school. I wasn’t a particularly fond...more

Morgan Lewis

The Interplay Between ESG Investing and ERISA’s Fiduciary Duties

Morgan Lewis on

Environmental, social, and governance (ESG) investing—especially the “E”—is an increasingly hot topic for investors, but it presents unique legal issues for retirement plan decision makers who have strict fiduciary duties to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Fidelity to offer crypto window in 401(k) plans

Fidelity Investments will allow investors to put bitcoin (BTC) into their 401(k) retirement savings accounts later this year....more

Morgan Lewis - ML Benefits

State Anti-ESG Bills May Complicate Public Retirement Plan Investing

At the same time that the federal government, through the US Department of Labor, appears to be easing retirement plan fiduciaries’ paths to considering certain environmental, social, or governance (ESG) factors in making...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Confirm what the audit says

If you have a retirement plan with more than 100 participants, you probably have a plan audit (if you have more than 120 participants, you do). Like with any plan provider, there are a lot of great auditors out there and some...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Ask where the plan data is used

Someone I admire as a person is a Congressman from the other party. I donated when he first ran for Congress and needless to say, I get bombarded with emails from candidates around the country that I would never support...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

You’re going to have to review the automatic rollover provider

While the Department of Labor (DOL) has been focusing on missing participants, expect them to question plan sponsors about missing participants and the automatic rollover provider that they use...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review

401(k) Plan Sponsors Should Focus On What The Government Is Focusing On - In the movie Casino, Robert DeNiro as Sam “Ace” Rothstein wanted to take on the Nevada Gaming Board after they denied his request for his license....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

EBSA hammers NY Courier for ERISA lawsuit

The Department of Labor (DOL) Employee Benefit security Administered has filed a lawsuit in Federal District Court for the Southern District of New York against Velo Corp. of America for breaches of fiduciary duty under...more

Goodwin

ERISA Litigation Update - April 2022

Goodwin on

Welcome to Goodwin’s ERISA Litigation Update. Litigation involving ERISA-governed benefits plans has exploded in recent years. Lawyers in our award-winning ERISA Litigation practice have extensive experience litigating these...more

Fisher Phillips

The Top 14 Workplace Law Stories from January 2022

Fisher Phillips on

It’s hard to keep up with all the recent changes to labor and employment law. While the law always seems to evolve at a rapid pace, there have been an unprecedented number of changes for the past few years—and this past month...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Revenue Sharing has been dying for years

Any article that states that revenue sharing has been declining in 401(k) plans is stating the obvious. Like with a dying business or organization, you can see it a mile away. Revenue sharing has been dying since the day that...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

ERISA attorneys and the snowball effect

The snowball effect is a term for a process that starts from something that is small and builds upon itself, becoming larger and also perhaps potentially dangerous or disastrous. The idea is that an avalanche can be started...more

Woodruff Sawyer

Protecting Against the ERISA Litigation Surge

Woodruff Sawyer on

ERISA litigation has exploded in the past few years, particularly cases alleging excessive fees. Last year was the high-water mark for ERISA class actions with over 200 cases filed, an 80% increase from 2019. 2021 is on track...more

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