Legal News

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

People complain a lot about life these days, but one fun fact is that people are living longer than they did just 20 years ago. Thankfully, the Internal revenue Service (IRS) noticed too....By: Ary Rosenbaum

If you’re a closely held business or not, changes do happen. Whether it’s leadership or who serves as your plan’s trustee, change will likely happen. The problem sometimes is when the plan document has been updated to reflect who the current trustees...By: Ary Rosenbaum

The 1970s were known as a decade of disaster movies. They were a really popular genre thanks to the classics Airport, The Poseidon Adventure and The Towering Inferno. It was a money-making genre until producer Irwin Allen ran it into the ground with...By: Ary Rosenbaum

I worked at a third-party administration (TPA) where one of our administrators tried to steal money from a participant’s account and transfer it to his Individual Retirement Account (IRA),. The only reason he got caught because he messed up the...By: Ary Rosenbaum

The Department of Labor (DOL) proposed a new rule to allow retirement plan disclosures to be posted online. The new rule allows plan administrators to post any document that the administrator is required to furnish under ERISA on the plan sponsor’s...By: Ary Rosenbaum

I’m not a big fan of target-date funds and that bias goes back to the implosion of the stock market in 2008-2010, where I thought older workers didn’t realize that their target-date funds had so much equity exposure. I also question the funds’ glide...By: Ary Rosenbaum

I’ve been an ERISA attorney for 19 years and I’ve seen a lot of 401(k) plan sponsors that have liability and compliance headaches that they could have avoided. The most important step that plan sponsors can take in avoiding needless plan errors that...By: Ary Rosenbaum