Monthly Archives: April 2020

401(k) Plan Sponsors Aren’t Aware Of Their Own Mistakes

My latest article on JDSupra.com can be found here.

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The new normal will be here for a while or will it?

The problem with the Coronavirus pandemic is that for every 4 medical experts, there seem to be 8 medical opinions.  They say the virus can be killed by heat, then they say it can’t. They say it can travel 6 … Continue reading

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10 Years In

LinkedIn notified me that it’s been 10 years since I started my own law practice in April 2010. It’s hard to believe it’s been 10 years, but it has been a wild ride, full of highs and lows and my … Continue reading

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Filing for 5500s for off calendar year plan extended

The Internal Revenue Service (IRS) has increased the filing and payment relief provided under prior guidance. IRS Notice 2020-23 extends the due date for employee benefit plans required to make the Form 5500 series filings due on or after April … Continue reading

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Abbott Case Proves Cyber Theft Is A Serious Matter

With everything 401(k) related being online, cyber security is important for plan sponsors, plan providers, and plan participants. A former employee of Abbott Laboratories sued the company and its record keeper, Alight Solutions LLC, accusing plan fiduciaries and Alight of … Continue reading

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No shock, employers are suspending their matches

In the time of financial turmoil, one constant is that employers cut back on their employer contributions in the 401(k) plan they sponsor. Among 152 sponsors surveyed by the Plans Sponsor Council of America, almost 22 percent of 401(k) plan … Continue reading

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Tales Of A Former Law Associate Nothing

My latest article for JDSupra.com can be found here.

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The Road To Hell Is Paved With Good Intentions For 401(k) Plan Sponsors

My latest article for JDSupra.com can be found here.

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The free distribution package problem

A lot of the bundled third-party administration (TPA) firms are offering free distribution packages to participants who need a distribution because of Coronavirus. They can afford to because their TPA business has only been ancillary for the distribution of their … Continue reading

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Dear Chicken Little, We Will Survive in This Business

I remember when the chicken littles of the 401(k) business insisted that when fee disclosure regulations were implemented, plan sponsors would terminate their 401(k) plans rather than deal with the headaches of benchmarking fees. As we know, that didn’t happen. … Continue reading

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