Failure To Obtain ERISA Bond?
Plan sponsor oversights add up fast, as a lawsuit brought by the Department of Labor (DOL) painfully reminds us. Allegations, specifically naming a plan sponsor, include abandonment of the plan—and failure to obtain the…
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DOL’s Proposed Fiduciary Rule Explained
Public hearings and comment periods related to the Department of Labor’s proposed new fiduciary rule are currently slated to end in early January, 2024, making it important for plan sponsors to understand the basics…
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Understanding Peak 65
It’s here: 2024, and the demographic milestone anticipated to have a major impact on retirement plans (and realities) for Americans. As the phrase “Peak 65” implies, the largest number of Americans ever will turn…
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Trustee Duties: Disclosure and Accountability
When a trust is created, one or more trustees must be appointed to administer it. Far from being an honorary role, a trustee is obligated to manage the trust in accordance with the terms…
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Estate Law and Pets?
For many people, pets are beloved companions, but in the eyes of the law, cats, dogs, and other feathered, scaly or furry friends, are, in fact, just like jewelry and clothing: personal property. Read…
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IRS Guidance on SECURE 2.0
Given the massive scale (and page count) of SECURE 2.0, it may come as a relief to all the retirement plan sponsors scurrying toward comprehension and compliance that the IRS has begun issuing Q &A…
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Gen X: Running Behind
Working, Gen X Americans, between the ages of 43 and 58, are facing big hurdles on the path to successful retirement. For Gen X, the first generation largely reliant on company sponsored retirement plans and…
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Irrevocable Trust: Pros and Cons
Given the relative ease of set-up and their flexibility, revocable trusts are a popular and convenient estate planning tool. Despite the scarier name and implications, however, irrevocable trusts can also turn out to be useful,…
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Back Up Plan: Fiduciaries!
One of the most important aspects of estate planning is the designation of fiduciaries: the people entrusted to manage our affairs, in accordance with our intentions. Because life takes twists and turns, attorneys advise naming…
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