Making Defendants Look Dumb?
Lawsuits against 401k plan sponsors are continuing at an “unprecedented pace,” with 2022 second only to the flood 2020 brought on. Attorneys point out that despite some modest signs of courtroom optimism for plan…
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Staying Current: RMDs
Both the original SECURE Act, passed in 2019, and SECURE 2.0 enacted at the end of 2022, brought changes to the rules for required minimum distributions (RMDs). Experts caution retirement plan sponsors to pay…
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Second Chance: Why Not?
Automatically enrolling participants in employer sponsored retirement accounts has turned out to be a great step toward ensuring more workers save up. Experts remind plan sponsors to give those who opt out a second…
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Action Items: SECURE 2.0
It’s time to stop pondering the massive SECURE 2.0 legislation that passed at the turn of the new year and start acting on it, say experts. Given that compliance timelines are staggered over the…
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The Door’s Wide Open: ERISA Litigation
In follow-up to last year’s decision by the Supreme Court to remand the Hughes v Northwestern case, the 7th U.S. Circuit Court of Appeals has ruled that two of three claims against the plan…
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Form 5500: Participant Count?
Retirement plan sponsors are encountering some confusion about the Department of Labor’s updated filing rules for Form 5500. Specifically, a question has arisen about how participants are counted to determine whether or not an…
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Topping The FBI List: Email Attacks
When it comes to internet crime, the FBI says that the biggest financial losses to businesses are now coming from email compromise attacks. Given the plethora of stolen credentials available on the dark web,…
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Funds Recovered: Enforcement!
The latest statistics about the Department of Labor’s investigatory and recovery efforts on behalf of retirement plan participants demonstrate that fiduciary failures come at a tremendous cost to plans, participants and beneficiaries. A major…
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Failure To Shop Around?
Settlements continue to pile up as a way to bring excessive fee lawsuits against retirement plan sponsors to closure. Though admitting no wrong, employers find that the disruption and costs associated with defense—and the uphill…
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