New House-Passed HEROES Act Includes Retirement Clarity
The novel $3 trillion stimulus bill, passed on May 15, encompasses retirement initiatives voiced by the American Retirement Association. The House of Representatives signed off on the “Health and Economic Recovery Omnibus Emergency Solutions” (HEROES)…
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How Errors & Omissions Coverage Protects Pension Professionals from Costly Mistakes
It can be difficult for pension professionals to juggle servicing multiple employee benefit plans at once. With Errors and Omissions protection, pension professionals safeguards against covered losses from any actual or alleged negligent act, error, or…
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4 Plan Sponsor Action Plans During COVID-19
As the dynamic ripples of the COVID-19 pandemic continue to sculpt the current marketplace, it is vital for plan sponsors to augment their establishment’s retirement plans for what may lie ahead. Warranting the efficiency of…
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EBSA Gives Filing Relief for ERISA-Related Deadlines
The Employee Benefit Security Administration (EBSA) just launched deadline relief and recommendations related to the current impact of the COVID-19 pandemic, including expanding “good faith” application of electronic delivery. According to the EBSA’s “Disaster Relief…
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New Legislation Will Temporarily Raise Contribution Limits
Rep. Patrick McHenry, a republican of North Carolina serving on the House Financial Services Committee, introduced the Securing Additional Value for Every Retirement Saver (SAVERS) Act in order to temporarily raise contribution limits for defined…
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COVID-19 Layoffs come with Plan Sponsor PBGC Reporting Obligations
The recent pandemic has forced the hand of numerous establishments across the United States to release employees from their current positions. With over 26 million Americans now filing for unemployment in as little as five…
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House Approves Bill to Help Pay Retirement Benefits
On April 23, the House of Representatives approved a $484 billion COVID-19 stimulus bill which incorporates funding that can be utilized to help pay retirement benefits. The novel legislation, titled the Paycheck Protection Program and…
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Record Keeper, Plan Sponsor Sued for Fiduciary Breach in 401(k) Account Hack
A suit has been filed, alleging “actions in allowing an unknown individual to prey on and steal hundreds of thousands of dollars form the retirement savings of the Plaintiff.” The case was filed on behalf…
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California and New Jersey Extend COVID-19-Related Deadlines
Citing the magnitude of the current pandemic, New Jersey has prolonged the deadline for contemplating its suggested fiduciary rule. The Garden State’s novel uniform fiduciary standard was declared on April 15, 2019; nonetheless, under the…
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