Tag: Retirement plans

Retirement Plan Fiduciaries Must Wisely Consider All Investment Options

Retirement plan fiduciaries have a duty to monitor investment options continuously and remove all imprudent ones, a unanimous U.S. Supreme Court (SCOTUS) recently ruled in a much-anticipated decision. In the opinion, the Court made it clear the fiduciaries can’t ignore imprudent investment options in 401(k)s or other retirement plans even if other, prudent choices are […]

New Health Plan Disclosure Rules Should Bring More Transparency

New disclosure requirements should bring more transparency to the health plan side of employee benefits and allow plan fiduciaries to know and understand all the ways, direct and indirect, everyone is getting paid. The changes will help the fiduciaries to identify and assess possible conflicts of interest.

retirement

IRS Raises Several Annual Retirement Plan Limits for 2018

The Internal Revenue Service (IRS) raised several annual threshold and benefit levels for 2018 when it announced them on October 19. Employers and retirement plan administrators can apply the new rates as they prepare their plans for next year and conduct nondiscrimination testing. Notice 2017-64 outlined the latest changes to cost-of-living adjustments for employee benefit […]

IRS Again Leaves Most Annual Retirement Plan Limits Unchanged

The Internal Revenue Service (IRS) again left most annual threshold and benefit levels unchanged when it announced them for 2017 on October 27, 2016. Employers and retirement plan administrators can apply the new rates as they prepare their plans for next year and conduct nondiscrimination testing. Notice 2016-62 laid out the latest changes to cost-of-living […]

IRS Clarifies Midyear Changes to ‘Safe Harbor’ 401(k) Plans

The IRS on Jan. 29 provided some long-awaited guidance on which midyear amendments to “safe harbor” 401(k) retirement plans it will allow — and which remain prohibited. The guidance, effective immediately, should put to rest years of confusion among practitioners over when they can adjust plans to reflect short-term changes without putting their plan’s qualification […]

Fiduciary Duties Are Myriad, So Safeguards Matter

Monitoring the performance of service providers, making required disclosures to participants and beneficiaries, keeping good records and filing reports with the government are just a few of the important functions a fiduciary must ensure are properly executed, an enforcement official at the U.S. Department of Labor’s Employee Benefits Security Administration unit told a group of […]

Decision in Same-sex Spouse Pension Case May Violate ERISA

FedEx Corp. may have violated ERISA by not awarding pension death benefits to the same-sex spouse of an employee who died one week before the U.S. Supreme Court ended bans on gay marriage, although the company reasonably interpreted its plan’s limitation of benefits to opposite-sex spouses before the 2013 High Court ruling, a federal district […]