Monthly Archives: February 2022

In Hughes v Northwestern, a unanimous Supreme Court held that the Seventh Circuit erred by holding that a plaintiff can’t state a plausible claim against plan fiduciaries based on the inclusion of a few imprudent investment options if the investment … Continue reading →

Rev. Proc. 2002-4 listed the update for requesting Internal Revenue Service (IRS) determination letters, private letter rulings, and other tax advice on employee plan matters. IRS is transitioning this year to mandatory electronic submission of Form 5300, Application for Determination … Continue reading →

When you’re a plan sponsor and you run your own proprietary mutual fund business and have your 401(k) plan invest in said funds, expect to be sued. Bessemer Trust Company is being sued over the Bessemer Trust Company 401(k) and … Continue reading →

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

A bad third-party administrator (TPA) can be a weapon of mass destruction. So when plan sponsors focus on price or using their payroll provider in selecting the TPA, they neglect the most important attribute of a good TPA: service. A … Continue reading →

In Hughes v Northwestern, a unanimous Supreme Court held that the Seventh Circuit erred by holding that a plaintiff can’t state a plausible claim against plan fiduciaries based on the inclusion of a few imprudent investment options if the investment … Continue reading →

It’s a question I get often, the 401(k) plan sponsor wants to terminate their plan and start a new one. Can’t do it. 401(k) plans have a unique rule (actually 403(b) plans also have it) called the successor plan rule. … Continue reading →

I referred a client to a third-party administrator (TPA) that would be the best fit for fixing a defined benefit plan that was a hot mess. The fees are a little higher, but the client would make that up with … Continue reading →

The Supreme Court told defined contribution sponsors Monday that they have to monitor all investments in plans’ lineups rather than leave the analysis to participants. In an 8-0 ruling, the justices vacated and remanded a decision by the 7th Circuit … Continue reading →

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