Monthly Archives: October 2020

They often say that the road to hell is paved with good intentions. I don’t know who said it first (I heard it was originated with St. Bernard, the saint, not the dog), but perhaps they were a 401(k) plan … Continue reading →

One would think that the role of a retirement plan financial advisor is to pick plan investments. Most plan sponsors think that way and some financial advisors think as well. Some financial advisors promote their brilliant picking of actively managed … Continue reading →

ERISA §404(c), is the code section that may limit a plan sponsor’s liability in retirement plans where participant directs their investments. There are many people in the marketplace that have guaranteed that plan sponsors won’t get sued with 404(c) compliance … Continue reading →

As an ERISA attorney, I do get to talk to a lot of financial advisors and ERISA independent fiduciaries around the country, and the lament is that many plan sponsors don’t understand or care about such important fiduciary problems like … Continue reading →

In the movie Casino, Robert De Niro’s character Lefty Rosenthal warns Joe Pesci’s character Nicky Santoro that his actions will get him into the Gaming Control Board’s “Black Book”, which means he would be banned from all casinos. Nicky doesn’t … Continue reading →

A friend of mine who is a financial advisor asked me about a third party administration (TPA) firm that is close to where I live in Long Island. My friend has this prospect with a defined benefit plan handled by … Continue reading →

Being an ERISA litigator isn’t as easy as one may think. For class action lawsuits, you’re fronting money with the hopes of getting a large settlement in a class action. You’re pushing novel legal theories and sometimes, the court pushes … Continue reading →

The SECURE Act made a profound change that will affect any 401(k) plan with part time employees by requiring that long term, part time employees be able to make deferrals in a 401(k) plan For plan years beginning after Dec. … Continue reading →

Sometimes, the house misses. MGM Resorts International has been sued by participants of its 401(k) plan alleging breaches of fiduciary duties by allowing excessive recordkeeping and investment fees. The lawsuit claims that MGM Resorts breached their duties by failing to … Continue reading →

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