Legal News

The required minimum distribution rule for both qualified plans and individual retirement accounts is being pushed to 72 instead of the odd 70 ½. What does it mean? To me, it means that people are living longer and plan providers need to adjust their...By: Ary Rosenbaum

Here is a list of the planned agenda items for That 401(k) National Conference on March 10-11, 2020....By: Ary Rosenbaum

Plan sponsors with their proprietary funds have a unique problem. Using proprietary funds will lead to litigation and not using them, makes them look bad in the eyes of competitors. A 401(k) plan sponsor not using their funds is like restaurant...By: Ary Rosenbaum

I was born in 1972 and aside from fashion, music, and interior decorating, I’m a fan of the 1970s, which was the decade for baby boomers. The 401(k) plan business sprouted out of the 1980s and it grew in tandem with the generation that benefitted the...By: Ary Rosenbaum

Imagine if Mark Zuckerberg hatched the idea for Facebook, yet all he did was talk about the site instead of developing. Imagine if Jeff Bezos talked for a year or two about selling books on the Internet instead of going through developing the actual...By: Ary Rosenbaum

The biggest change under SECURE Act is the treatment of long-time, part-time employees under your 401(k) plan. Going forward, it will change how you see the 401(k) plan and how you will have to start measuring if you have long term, part-time...By: Ary Rosenbaum

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