For many years, plan sponsors and other fiduciaries have been caught in a whirlwind of litigation primarily related to 401(k) and 403(b) plan fees. Many of these cases have settled resulting in plan fiduciaries having to pay many millions of dollars. Other cases have resulted in adverse decisions Continue Reading
Employee Benefit Considerations When Making Workforce Modifications
The Bottom Line Employers should work closely with ERISA counsel to ensure that employee benefit plans (e.g., non-qualified deferred compensation plans, health and welfare plans, and 401(k) plans) are being administered correctly as they make changes to their workforce.Employers should work with Continue Reading
Employee Relations Law Journal | Are Brokerage Windows Broken? Cryptocurrency Release Creates Concern for Plan Fiduciaries
In aware of firms marketing investments in cryptocurrencies to 401(k) recent months, the U.S. Department of Labor (“DOL”) has become plans as potential investment options for plan participants. In response to these concerns, the DOL issued Compliance Assistance Release 2022-01 (the “Release”). The Continue Reading
COVID-19 and Executive Compensation
The Bottom Line In light of this unprecedented scenario, employers should closely review their executive compensation arrangements and proactively address some of the issues that will undoubtedly arise. The correct method for addressing these complex issues will depend on the employer’s industry, Continue Reading
COVID-19 Considerations for Retirement Plan Sponsors and Committees
The Bottom Line The novel coronavirus is presenting employers with new challenges on a daily basis. Employers should work closely with their ERISA counsel to ensure that they are administering their qualified retirement plans correctly and satisfying their fiduciary obligations while taking Continue Reading
Employee Relations Law Journal | It’s Time to Start Talking About Annuities in 401(k) Plans
Employee Relations Law Journal | Dudenhoeffer and the Duty to Monitor
Student Loan Repayment Benefit Under a 401(k) Plan: An Important New Benefit That Employers Can Offer Right Now
The Bottom Line Employers who wish to attract and retain a young and educated workforce should consider amending their 401(k) plans to provide this benefit. Employers interested in providing this student loan repayment benefit should consult with ERISA counsel prior to Continue Reading
Two Recent Court Rulings Signal Important Developments in ERISA Excessive Fee Litigation
The Bottom Line The recent decisions in Wells Fargo and Chevron offer plan sponsors and fiduciaries some guidance with respect to defending against ERISA fee litigation. Plan sponsors and fiduciaries need to continue to ensure that they engage in a deliberative and Continue Reading
Baker Tilly, Westminster Consulting, LLC and Davis+Gilbert Webinar | Why Everything Changes in 2017 – Managing Your 401(k) and Defined Benefit Plan
Baker Tilly, Westminster Consulting, LLC and Davis+Gilbert will host a joint webinar titled, "Why Everything Changes in 2017 - Managing Your 401(k) and Defined Benefit Plan." This unique program will provide a 360-degree view of compliance issues for sponsors of tax-qualified retirement Continue Reading