Legal News

Shelf space payments where mutual funds pay a platform a fee for space on their 401(k) shelf of investments is the newest thing, especially as a way to replace the loss of revenue sharing. One provider, in particular, is under investigation for these...By: Ary Rosenbaum

In the retirement plan industry, we have rules and we have guidelines on what to follow. However, there is one gray area that the Department of Labor (DOL) has absolutely no guidance: uncashed checks....By: Ary Rosenbaum

One of the biggest strikes against multiple employer plans (MEPs) may go the way of bellbottoms and Betamax. The Internal Revenue Service is proposing an exception to the one bad apple rule, which means that the action of lack of action by one...By: Ary Rosenbaum

Being a 401(k) plan sponsor is an incredible responsibility and the problem is that you may not even know it. Unlike other benefits, you have a greater responsibility in running your 401(k) plan. No one in government is going to come after you...By: Ary Rosenbaum

Dangers That As A 401(k) Provider You Need To Avoid. In an instant, it can all be gone. It can take almost a lifetime to build a sterling reputation in the retirement plan industry as a plan provider and it can be destroyed in an instant. The...By: Ary Rosenbaum

In 1993, I wanted a Hewlett Packard LaserJet printer. They were all black and white printers in those days and the cheapest you could find at the time was around $900-$100. At the time I was buying a PC Clone 486DX-33 (that was fast in those days), I...By: Ary Rosenbaum

As a plan provider, it makes sense to create an ancillary line of business if it’s a natural carryover of the existing line of business....By: Ary Rosenbaum

Most 401(k) plans have an investment policy statement to serve as a blueprint on how and why investment options are selected and replaced in the plan....By: Ary Rosenbaum

The last two times I was in Las Vegas, I didn’t gamble a penny. I didn’t gamble because I hate to lose. Yet I see so many plan sponsors and plan providers gamble by not correcting a glaring compliance issue and play that the plan won’t be audited by...By: Ary Rosenbaum

I’ve been an ERISA attorney for over 20 years and the one opinion I’ve had for that long is that having a payroll provider to serve as a 401(k) third-party administrator (TPA) is an absolutely bad idea. I say this as an ERISA attorney who derives a...By: Ary Rosenbaum