Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. A sample of recent cases is provided below. The most common type of ERISA case for approximately the past fifteen years has involved retirement plan participants’ allegations that plan fiduciaries caused participants to pay excessive recordkeeping and investment […]

On March 29, 2021, the IRS published Notice 2021-21 (the “Notice”) as a result of the COVID-19 pandemic. The Notice extends certain deadlines for “Affected Taxpayers.” That term is mainly defined as someone in either of the following categories: (1) any person with a federal income tax return filed via the Form 1040 series that, […]

Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. A sample of recent cases is provided below. The most common type of ERISA case for approximately the past fifteen years has involved retirement plan participants’ allegations that plan fiduciaries caused participants to pay excessive recordkeeping and investment […]

On February 12, 2021, the DOL published a News Release (the “Release”). The Release confirmed that a prohibited transaction exemption for plan fiduciaries who provide investment advice to ERISA plans would become effective as scheduled on February 16, 2021. That exemption was issued during the Trump administration. Many in the employee benefits community thought that […]

Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. A sample of recent cases is provided below. The most common type of ERISA case for approximately the past fifteen years has involved retirement plan participants’ allegations that plan fiduciaries caused participants to pay excessive recordkeeping and investment […]

On January 12, 2021, the Department of Labor (the “DOL”) published three pieces of guidance. All three deal with the DOL’s ongoing concern about participants and beneficiaries in ERISA-covered plans for whom the plan sponsor does not have a current address. First, the DOL published “Best Practices” guidance. It initially notes that “EBSA has undertaken a […]

On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (the “Act”). The Act, which consists of over five thousand pages, addresses many areas (e.g., providing funding for the government and for COVID-19 vaccines). This article, however, focuses solely on its provisions affecting retirement plans. Disaster-Related Distributions:  Under the Act, the […]

On December 9, 2020, the IRS issued Notice 2020-86 (the “Notice”). This new guidance expands on sections 102 and 103 of the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), both of which apply to safe harbor plans. Those plans make legally-required employer contributions (in the form of matching contributions […]

Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. A sample of recent cases is provided below. The most common type of ERISA case for approximately the past fifteen years has involved retirement plan participants’ allegations that plan fiduciaries caused participants to pay excessive recordkeeping and investment […]

As the end of 2020 quickly approaches, retirement plan sponsors should promptly consider several important potential tasks. Examples include the following: December 1 Deadline for Certain Plan Communications to Participants: Depending on a plan’s design, one or more of the following annual notices might be required: safe harbor notice, qualified default investment alternative (“QDIA”) notice, […]