New Form 5500?
The U.S. Department of Labor has released the annual update to Form 5500 and 5500-SF (the short form), making adjustments that reflect regulatory changes. Retirement plan sponsors are reminded that oversight of the annual submission…
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Litigation Trends: ERISA
2022 began with the decision of the U.S. Supreme Court related to Northwestern’s fee litigation case, which left the retirement plan industry wondering about the implications. Looking back on the year, ERISA law experts…
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Security Breaches Defined
Since the Department of Labor issued Guidance in 2021 directing retirement plan sponsors to monitor the cybersecurity protocols in use by service providers, there has been a great deal of confusion about what exactly…
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Compliance: Year End Responsibilities
The end of the year is an important time for retirement plan sponsors to review plan documents and plan operations. Discretionary changes as well as amendments for compliance must be properly reflected in plan…
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Cybersecurity: What About Your Vendors?
Business owners of all kinds are learning fast: cybersecurity strategies and tactics are integral to running a successful company. Attention to the cybersecurity protocols of any and all vendors (aka service providers) the company…
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Outcome Oriented
A recently study of nearly 2,500 adults points to what is well understood intuitively: people have messy feelings about retirement, and this makes it challenging to target communications and information about retirement savings plans….
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Orphan Accounts?
Plan sponsors are advised to stay on top of communications with former employees who leave their 401k accounts behind. The fiduciary risks associated with “orphan” accounts stack up. Facilitating portability is also wise, as is…
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Pretirement: : A New Life Stage?
Although the word is new, we probably all know someone who, perhaps nudged into it by the pandemic, is “pretired”—working, but not in the same way as before, on the path toward retirement. Indeed,…
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Devastating To Plan Participants
Among other fiduciary breach claims, a new lawsuit, filed by retirement plan participants against a freight transporting business, alleges plan sponsor failure to monitor revenue-sharing payments for reasonableness, and describes the results to participants…
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