With the delay in re-opening businesses, some companies are finding that they need to terminate employees who had been placed initially on furlough or a reduced-hours assignment. When analyzing the costs that will be incurred...
Read MoreThe COVID-19 pandemic has employers strategizing on how to retain valuable employees while addressing declines in demand for the company’s products or services. Some employers have placed employees on unpaid leave status...
Read MoreThe IRS recently issued its “Required Amendment List,” which contains the annual list of amendments that must be adopted by certain individually-designed retirement plans. This year, the List includes the requirements imposed by...
Read MoreThe Department of Labor (“DOL”) has proposed a new safe harbor to allow employers to furnish information to participants and beneficiaries subject to ERISA. While it is a welcome update to the DOL’s woefully outdated disclosure...
Read MoreWith immigration enforcement in the news, some employers may be wondering what responsibilities they have related to their retirement plans, if an employer discovers that an employee lacks documentation to demonstrate they are...
Read MoreWith immigration enforcement in the news, some employers may be wondering what responsibilities they have related to their retirement plans, if an employer discovers that an employee lacks documentation authorizing the employee...
Read MoreOn August 31, 2018 President Trump issued Executive Order 13847, titled “Strengthening Retirement Security in America”. This Executive Order directed the Secretary of Labor to: Clarify and expand the circumstances under...
Read MoreCertain qualified retirement plan errors are now easier to fix under the new expanded IRS self-correction procedures. On April 19, 2019, the IRS released the revised Employee Plans Compliance Resolution System (“EPCRS”) under...
Read MoreThe summary plan description (“SPD”) and disclosure regulations provided by the Department of Labor (“DOL”) are spread across six regulatory sections. They are voluminous. One section, however, provides an alternative method of...
Read MoreMost employers are familiar by now of the many lawsuits (more than 100) filed against 401(k) and 403(b) plan sponsors and their employee fiduciaries responsible for selecting the plans’ record keepers and investment line-ups,...
Read MoreIn its latest case addressing retiree health benefits, the Sixth Circuit Court of Appeals has held that a collective bargaining agreement’s general durational clause controls when retiree healthcare benefits end. Zino v....
Read MoreAs an advisor to many 401(k) plan sponsors, I have been asked occasionally what advice I would give to a person who is relatively new to retirement plan administration. While some aspects of administration may only be learned...
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