Participant Contributions: Let’s Be Timely!
Failure to properly and promptly ensure employee contributions are remitted to the retirement plan is a serious problem. Although a very small fraction of employers have been found to have abused retirement contributions, the…
Read Moreabout Participant Contributions: Let’s Be Timely!
Better For All?
According to the Pension Research Council, fewer women than men have retirement accounts, and plan sponsors across the country are taking notice and action. Recognizing that thriving businesses focus on recruiting and retaining a…
Read Moreabout Better For All?
Sorry! Mea Culpa…
Even when solid procedures, paid experts, and great diligence are in play, mistakes get made in the sponsorship of retirement plans. It’s always best for plan sponsors to be proactive about identifying and attending…
Read Moreabout Sorry! Mea Culpa…
Blurry on Retirement
New data exemplifies the blurry feelings and ideas workers have about retirement, with about one third indicating that they are unlikely to ever actually retire, while about half of those in their 60s plan…
Read Moreabout Blurry on Retirement
New Theories of Liability
New trends in claims against retirement plans (and their fiduciaries) include allegations of imprudence related to investment fund choices. Even as excessive fee litigation claims brought in 2022 continue to clog up courts, new…
Read Moreabout New Theories of Liability
ERISA: Civil Violations?
Yes, the Department of Labor’s Employee Benefits Administration (EBSA) regularly pursues violations of ERISA, recovering funds for retirement plan participants. Civil corrections, litigation and even criminal indictments are all possibilities for plan fiduciaries under…
Read Moreabout ERISA: Civil Violations?
Weeding Out Claims?
Despite hopes that a “heightened standard” for excessive fee claims would result in plan sponsors winning more motions for the dismissal of ERISA lawsuits, the fact is: plan sponsors are losing even more motions…
Read Moreabout Weeding Out Claims?
Keeping Assets In Plan: Rocket Science?
Most plan sponsors want the assets of retired workers to stay in the plan, but why would workers want to keep their assets with a former employer? Experts say it’s not rocket science: just…
Read Moreabout Keeping Assets In Plan: Rocket Science?
Proper Use of the ERISA Budget Account
Improper use of the ERISA Budget Account associated with an employer sponsored 401k plan, even if merely a mistake, is a fiduciary failure which can lead to investigations, penalties, and criminal charges brought by…
Read Moreabout Proper Use of the ERISA Budget Account