Monthly Archives: September 2021

I have been an ERISA attorney for 23 years, I have seen a lot of strange things that plan sponsors have done to risk the ire of the Internal Revenue Service (IRS) and the Department of Labor (DOL). Many of … Continue reading →

Between now and July 2022, your 401(k) plan will be going through a mandatory restatement. The restatement will create a new plan document for you and since you’re being charged for it, you might want to add, some or all … Continue reading →

Less is more, I believe that. As an attorney in an occupation where most attorneys charge by the hour and believe more is more, I am an outlier. In communicating with your participants/employees, I think it’s important to offer communication … Continue reading →

I used to joke that at the law firm I was at, that if the Managing Attorney wanted to bury a particular subject, she’d create a committee for it. Unlike a law firm committee or some organization’s fundraising committees, you … Continue reading →

Kathleen Kennedy Townsend joined the Department of Labor (DOL) to help advance state and federal efforts to expand retirement savings programs. Townsend started a new role as Labor Secretary Marty Walsh’s Representative on Retirement and Pension Issues. A former Maryland … Continue reading →

The Government Accountability Office (GAO) has found that 45% of plan participants are not able to use the information given in fee disclosures to determine the cost of their investment fee, and 41% of participants incorrectly believe that they pay … Continue reading →

My latest newsletter for retirement plan providers can be found here.

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

After 23 years in the retirement plan business, one thing that stands out is that plan providers are on the cutting edge are usually over the edge. ROB 401(k) plan, sub-trusts in defined benefit plans, defined benefit plans with age … Continue reading →

With the market up, it makes sense that self-directed brokerage accounts in defined contribution plans would be up too. According to Charles Schwab’s SBDA Indicators Report, the average account balance across all participant accounts finished Q2 2021 at $348,183, a … Continue reading →