Author Archives: admin

I worked at the college newspaper and if you said something to one staff member, they would tell someone else in 5 minutes. However, like the game of telephone, the story would get misconstrued. I remember telling someone about possibly … Continue reading →

One of my king beliefs is that giving away, anything of value for free is a mistake because people place no value on something free. That could be the tax return that a relative wanted me to prepare for a … Continue reading →

The proposed merger of Aon and Willis Towers Watson (WTW) has been terminated. Both firms say they have agreed to terminate their business combination agreement and end litigation with the U.S. Department of Justice (DOJ). The proposed combination was first … Continue reading →

Some birds aren’t mean to be caged (a line from The Shawshank Redemption) and some attorneys weren’t meant to be law firm associates. 3 years working for two law firms was 3 years too long. I have a 50/50 rule … Continue reading →

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

About 75% of large 401(k) plan sponsors would rather keep the assets of retired employees in the plan, rather than have these retirees roll over their plan assets into an individual retirement account (IRA), according to a PIMCO survey of … Continue reading →

When you’re a financial services company that offers proprietary mutual funds within your 401(k) plan, expect to get sued. Current and former participants of the MetLife 401(k) Plan have filed a lawsuit alleging the plan’s fiduciaries violated the Employee Retirement … Continue reading →

The IRS has updated the Employee Plans Compliance Resolution System (EPCRS) with the release of Revenue Procedure 2021-30. The EPCRS is used to correct certain plan qualification failures. EPCRS contains the Self-Correction Program (SCP), the Voluntary Correction Program (VCP), and … Continue reading →

The big just got bigger. Empower Retirement is now buying the retirement plan business of Prudential Financial Inc. for $3.55 billion. The purchase would increase Empower’s retirement plan footprint to more than 16.6 million participants and assets under administration to $1.4 trillion … Continue reading →

It’s more work, but it’s clear that the Department of Labor (DOL) wants you to do more work when dealing with former participants who you lose track of, but still have money in your 401(k) plan. It’s important that you … Continue reading →