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Employee Benefits 401k Employee Benefits Security Administration

Foley & Lardner LLP

Five Things on the Department of Labor’s Radar for Employee Benefit Plans

Foley & Lardner LLP on

All qualified retirement plans are subject to a myriad of requirements of the Employee Retirement Income Security Act of 1974, as amended (ERISA). The United States Department of Labor (DOL) is charged with enforcing the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The DOL is here to help

I got an urgent phone call on Friday at 5 pm from a plan sponsor with a unique situation. They talked about terminating their 401(k) plan to their third-party administrator (TPA) and the TPA canceled access to their plan....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Defunct company ordered to pay for missing 401(k) contributions

The U.S. District Court for the District of Maryland ordered engineering firm Bicallis LLC and its owner, Bryan Hill, to restore missing contributions to the Bicallis LLC 401(k) Plan....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

I’ll say it, don’t allow crypto in your 401(k) plan

In the movie Casino, Robert DeNiro as Sam Rothstein wanted to take on the Nevada Gaming Board after they denied his request for his license. Andy Stone, a Teamster controlled by the Mafia and played by Alan King told him it...more

Fisher Phillips

Dept of Labor Sued in Crypto 401(k) Guidance Lawsuit: What Employers Need to Know

Fisher Phillips on

The battle over crypto 401(k)s reached a fever pitch last week as 401(k) provider ForUsAll Inc. filed a lawsuit against the U.S. Department of Labor (DOL) in a Washington, D.C. federal court on June 2, alleging that federal...more

Lathrop GPM

Cryptocurrency as a 401(K) Plan Investment Option

Lathrop GPM on

Fidelity Investments recently announced it is making a Bitcoin account available as an investment option for 401(k) plans, fueling a debate about cryptocurrencies and fiduciary responsibilities under ERISA. In what might...more

Fisher Phillips

Federal Employee Benefits Investigators Announce Plan to Scrutinize 401(k) Cryptocurrency Investments

Fisher Phillips on

While some employees and retirees have been asking to have cryptocurrencies included in their 401(k) retirement plans, federal authorities recently issued a strong and direct warning that such a plan might run afoul of...more

Seyfarth Shaw LLP

How Do You Really Feel? DOL Talks ESG and Crypto

Seyfarth Shaw LLP on

Seyfarth Synopsis: In keeping with their recent more vocal stance on fiduciary duties, the Department of Labor has weighed in on the wisdom of 401(k) plans including an ESG fund or a crypto investment option in its line-up....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Dealing With Missing Participants in Terminating Puerto Rico 401(k) Plans

For a host of legal and practical reasons, the only feasible alternative for disposing of the accounts of missing participants in a terminating 401(k) or other defined contribution retirement plan qualified only in Puerto...more

Constangy, Brooks, Smith & Prophete, LLP

A “Vaccine” For COVID-19 ERISA Litigation

ERISA litigation tends to spike when economic uncertainty or turmoil rises. Although many things contribute to this historically verifiable trend, it is easiest for employers to think about just two of them. First, an...more

Troutman Pepper

Changes to Plan Distribution and Disclosure Information

Troutman Pepper on

Updated Safe Harbor Special Tax Notice (402(f) notice) & Lifetime Income Illustrations – Five Key Points for Plan Fiduciaries - The IRS has updated its safe harbor Special Tax Notice required to be provided to plan...more

Stinson - Benefits Notes Blog

Class Action Filed Against Fidelity for Alleged “Secret Kickback Payments”

On February 21, 2019 attorneys for Andrew Wong, a participant in the T-Mobile USA Inc. 401(k) Retirement Savings Plan & Trust, filed a class action complaint in the U.S. District Court of Massachusetts against FMR LLC,...more

Franczek P.C.

EBSA Releases Plan Audit Quality Report, Recommends Stricter Plan Audit Standards

Franczek P.C. on

The DOL’s Employee Benefits Security Administration (EBSA) released a report assessing the quality of audit work performed by certified public accountants with respect to financial statement audits of retirement and welfare...more

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