Legal News

I have been an ERISA attorney for 21 years now and the biggest thing that amazes me is when a fiduciary to a plan steals money from a 401(k) plan. I’ve seen plan sponsors do it, I’ve seen employees do it, and I’ve seen plan providers do it. I knew...By: Ary Rosenbaum

Being a 401(k) plan sponsor isn’t easy. Half the battle is identifying your responsibilities as a plan fiduciary. The other half is identifying compliance and fiduciary errors that can lead you into a lot of trouble. One of the problems is...By: Ary Rosenbaum

Non-ERISA 403(b) plans are the last stand for poorly run, highly expensive retirement plans. It is still the wild, wild West because, without ERISA coverage, there is no Department of Labor support in fee disclosures and avoiding other abuses. Thanks...By: Ary Rosenbaum

Goldman Sachs has been sued for the alleged “unlawful” management of its company 401(k) plan for using their in-house actively managed proprietary mutual funds....By: Ary Rosenbaum

As far as an industry watchdog group, let’s just say that the American Retirement Association (ARA) does its job. Regardless of party affiliation, the ARA takes on politicians with proposals that are harmful to the retirement plan industry and plan...By: Ary Rosenbaum

As I’m sure you heard, the Internal Revenue Service released their 2020 Cost of Limit Adjustment limits for qualified plans and individual retirement accounts. The salary deferral limit for participants in 401(k), 403(b), most 457 plans, and the...By: Ary Rosenbaum

Often some things look good on paper and just don’t look good in practice like Crystal Pepsi or Arch Deluxe. Those business bombs cost the businesses that pushed them out. For 401(k) plan sponsors, they can ill afford to imple- ment practices and...By: Ary Rosenbaum

In communications with other plan providers, clients, and potential clients, you have to be clear. There isn’t much room for miscommunication. When dealing with clients, miscommunications can lead plan sponsors to some huge mistakes....By: Ary Rosenbaum

Correcting your late deferrals by depositing them and making a contribution to make up for lost earnings in your 401(k) plan isn’t enough....By: Ary Rosenbaum

If you have a safe harbor 401(k) plan or plan on adding that provision to your plan, keep in mind that you must hand out notices to plan participants before December 1....By: Ary Rosenbaum