Monthly Archives: December 2020

I always talk about my time at that old law firm because it was the most frustrating experience of my life, even worse than law school. There is nothing worse than thinking you can build a national ERISA practice as … Continue reading →

Small business retirement plans look great on paper. A Simplified Employee Pension (SEP) plan or Savings Incentive Match Plan for Employees (SIMPLE) Plan or a SIMPLE 401(k) is a great opportunity for small employers to maintain a retirement plan and … Continue reading →

One of the greatest parts of my job as an ERISA attorney is helping financial advisors out with potential clients and current clients. I never charge for a phone call or an email because helping other plan providers out will … Continue reading →

I have to say that I’ve been seen a huge uptick in 401(k) plans forced to submit Voluntary Compliance Program applications. Whether it’s failed implementation of plan documents or screwing up the definition of compensation, I can’t believe the uptick. … Continue reading →

The SECURE Act introduced the concept of a “long-term, part-time employee.” Starting in 2021, 401(k) plans are going to need to consider these employees for eligibility, vesting, and company contribution purposes, as they become eligible in 2024. A “long-term, part-time … Continue reading →

A new survey from Willis Towers Watson has nearly 10% of U.S. companies have used the crisis to cut or suspend the 401(k) match. It’s an amazing statistic. While big business seems to be making record profits, small and medium-sized … Continue reading →

Coca-Cola Consolidated Inc.’s $784 million 401(k) plan is one of the latest class-action ERISA lawsuits for breaching their fiduciary duty. The complaint says the continued offering of the actively managed Fidelity Freedom Funds target-date fund (TDF) suite represented an ongoing … Continue reading →

A former participant in the L Brands 401(k) Savings and Retirement Plan is suing the plan sponsor for breaching their fiduciary duty under the Employee Retirement Income Security Act (ERISA) by allowing excessive fees for recordkeeping and investments. L Brands … Continue reading →

I always look at the bigger picture and I’m concerned about issues that are 5-10 years down the pike. This is what you do when you have 20+ plus years left before retirement. I’ve always been a forward thinker, which … Continue reading →

DeMoulas Super Markets settled for $17.5 million in a class-action lawsuit regarding its profit-sharing plan that didn’t have a 401(k) feature. The problem in the case was that the Super Market invested assets of the plan too conservatively for its … Continue reading →