Monthly Archives: February 2021

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

The Center for Retirement Research calculated the companies that announced they were suspending the employer 401(k) match. Their data suggests that less than 1% of plan sponsors (with more than 100 participants) covering 1.6% of plan participants have suspended the match. That is … Continue reading →

On December 27, 2020, President Trump signed the Consolidated Appropriations Act of 2021 (the “Stimulus Act”), which not only gives taxpayers another stimulus payment but changes to retirement plans. One change was to the partial termination rules, temporarily. The Stimulus … Continue reading →

On December 27, 2020, President Trump signed the Consolidated Appropriations Act of 2021 (the “Stimulus Act”), which not only gives taxpayers another stimulus payment but changes to retirement plans, including qualified disaster distributions. A Qualified Disaster includes any disaster that … Continue reading →

Theft of 401(k) account balances by cybercriminals or other types of criminals is an actual thing and they will become more and more popular as long as third party administrators (TPAs) fail in their role and don’t use common sense. … Continue reading →

The Biden administration will review the Department of Labor (DOL) rule stipulating that ERISA plan fiduciaries can’t invest in “non-pecuniary” vehicles that sacrifice investment returns or take on additional risk. This rule essentially curbed the use of environmental, social, and … Continue reading →

According to the Department of Labor, you have a missing participant problem if: 1) You have more than a small number of missing or nonresponsive participants. 2) You have more than a small number of terminated vested participants who have … Continue reading →

With the focus by the Department of Labor (DOL) on missing participants, I have to say it isn’t hard to find missing participants. While you could rely on the automatic rollover provider, the Internet has made searches easy with inexpensive … Continue reading →

Being an ERISA attorney for a couple of third-party administration (TPA) firms when I first started helps you develop a sense of humor because there are too many people I was associated with who had absolutely zero training when it … Continue reading →

If there is one famous quote that’s landed me in trouble, it’s one from my favorite football coach Bill Parcells. Parcells was coaching the New England Patriots and he wasn’t getting along with the new owner Robert Kraft because Parcells … Continue reading →