Colorado’s Savings Plan Offers Employer Mandate
Colorado is expected to join states across the country in having a state-sponsored retirement savings plan for private sector employees, including a mandate for employers with greater than five workers that do not provide a…
Read Moreabout Colorado’s Savings Plan Offers Employer Mandate
Safeguard Your Remote Workplace with Cyber Liability Insurance
A cyber-attack can not online bring your remote workforce to its knees, but damage your company for years to come. Operational continuity is paramount for establishments at the peak of fruitfulness, and during this pandemic,…
Read Moreabout Safeguard Your Remote Workplace with Cyber Liability Insurance
Ohio Bill Legislation Creates Defined Benefit Plans
The Ohio House of Representatives crafted a defined benefit plan for workers of private sector employers. It is the first state proposal using a DB plan instead of a defined contribution plan. Introduced on May…
Read Moreabout Ohio Bill Legislation Creates Defined Benefit Plans
DOL Approves Private Equity in TDFs
The Department of Labor has given the green light to private equity investments in professionally handled funds within 401(k)s. In a detailed Information Letter, the head of Division of Fiduciary Interpretations at the Employee Benefit…
Read Moreabout DOL Approves Private Equity in TDFs
IRS Signs Off on Temporary Remote Signature Relief
The Internal Revenue Service has offered brief administrative relief to assist specific retirement beneficiaries or plan participants eager to make participant elections by permitting flexibility for remote signatures. Published on June 3, Notice 2020-42 gives…
Read Moreabout IRS Signs Off on Temporary Remote Signature Relief
Senate Passes Paycheck Protection Program Legislation
The United States Senate just approved the House version of the Paycheck Protection Program (PPP) legislation this Wednesday, augmenting the time given for small businesses and other PPP loan recipients to utilize funds and still…
Read Moreabout Senate Passes Paycheck Protection Program Legislation
Detrimental Assumptions Plan Sponsors Make
When it comes to managing an employee benefit plan, even if a plan sponsor commits a very small plan violation, such an incident can result in hefty ERISA penalties. Even failing to file Form 5500…
Read Moreabout Detrimental Assumptions Plan Sponsors Make
ARA Endorses Interim Amendment Process Improvements for Pre-Approved Plans
In a May 11th letter to the Director of the IRS Office of Employee Plans, the American Retirement Association suggested enhancements in the interim amendment process for pre-approved plan documents. The ARA indicates that the…
Read Moreabout ARA Endorses Interim Amendment Process Improvements for Pre-Approved Plans
Can Employees Who Didn’t Read Benefit Disclosure Still Sue?
A U.S. Supreme Court decision from a few months ago has resulted in a ruling that is potentially helpful for plaintiffs/lawyers to bring ERISA actions. The United States Supreme Court decided in Intel Corp v….
Read Moreabout Can Employees Who Didn’t Read Benefit Disclosure Still Sue?