Legal News

A financial advisor called me and asked me if there was a problem that an insurance policy paid by a 401(k) plan had the policy in the name of the participant. Considering it was a plan asset, I thought so. If the participant is a plan fiduciary, a...By: Ary Rosenbaum

If you have a great product, but lousy distribution, you’re not going to do well. Yet the same thing is on the flip side if you have great distribution, but a lousy product. Whether it’s a multiple employer plan, a great IRA product, or anything...By: Ary Rosenbaum

There is nothing wrong with free unless there is a hidden cost involved. Small business plans that don’t require filing a Form 5500 is great until you realize the cost in saving for retirement plans....By: Ary Rosenbaum

My favorite law school professor, Bernie Corr once said in hi advanced bankruptcy class that the reason we change the bankruptcy law every few years is to give bankruptcy law some business. If Professor Corr was an ERISA lawyer, he’d probably say the...By: Ary Rosenbaum

When I started my law practice, I started to look at what the competition was doing and I decided to do things differently. Other ERISA attorneys charge by the hour, they charge for every phone call, and I just didn’t want to nickel and dime clients...By: Ary Rosenbaum

As they once said in This is Spinal Tap, there is a fine line between stupid and clever. I can assure you that Michael McKeon who played David St. Hubbins in the movie and co-wrote it, was not in plan administration. Based on what I’ve seen when it...By: Ary Rosenbaum

ERISA requires disclosure of certain plan documents to participants including a summary plan description, statements, and notices. The problem is what do you do with people who aren’t participants such as potential employees?...By: Ary Rosenbaum

Advisors ask me all the time of the role of education in participant-directed 401(k) plans. Participant directed 401(k) plans that are governed under ERISA §404(c) offer the plan sponsors liability protection based on a participant’s gains or losses...By: Ary Rosenbaum

As a 401(k) plan sponsor, you need to know that plan errors happen all the time. A 401(k) plan has so many moving parts, so that means something might break. The problem here is that while things can happen without control, you can control some...By: Ary Rosenbaum

Every year in the retirement plan business brings its challenges and its concerns. As a 401(k) plan sponsor, you need to understand what some of the concerns are because you’re a plan fiduciary. If you’re prepared for some of the challenges and focus...By: Ary Rosenbaum