Improperly amending a retirement plan can jeopardize the plan's tax-qualified status. For health benefit plans or other welfare plans, it can be the prospect of a recovery for the plaintiff's lawyers seeking benefits for their individual ...
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Retirement Plans Blog
403(b) Plans – Managing Them Can Be Like Herding Cats
Right now, the vast majority of 403(b) plans are loose financial arrangements with too many investment choices and very little, if any, employer involvement. A so-called non-employer-sponsored, or non-ERISA, plan is essentially an accommodation by ...
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Successor Fiduciaries Can Be Personally Liable For Fiduciary Breaches
In this article, we address the question of whether a successor can become personally liable for a breach of fiduciary duty under ERISA (and the federal common law of trusts), if the breach occurred prior to the fiduciary’s appointment as trustee. We ...
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Pension Actuaries: Do You Need One For Your Plan?
The role of the pension actuary on the retirement plan team …
Actuaries are well trained in determining pension liabilities and costs and can often quote the pension sections of the Internal Revenue Code verbatim. But do you need one? Do you have ...
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The Employee Plans Compliance Resolution System (EPCRS): When Haste DOESN’T Make Waste
I can still hear my mother saying it, "Haste makes waste, Marcel." And it is true in many situations – acting too quickly can cause mistakes that waste time and money. But it isn't always the case with qualified plan failures. In most cases, timely ...
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Safe Harbor Plans: Does Your 401(k) Need To Be One?
Does your Code section 401(k) plan keep failing the nondiscrimination tests? Or are your highly compensated employees (HCEs) unable to defer as much as they would like because of the low level of deferrals by the nonhighly compensated employees ...
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