employer

Many 401(k) plans rely on an administrative routine that entails periodic meetings with plan advisors; review of advisor reports on fees, participant usage and investment performance; and preparation of minutes of any decisions made at advisor meetings. But this procedure, by itself, may be insufficient to satisfy applicable ERISA fiduciary standards. Active input is required […]

Consider Dave, the CFO at a medium sized company with a Section 401(k) retirement plan. Like many employers, the assets of the 401(k) plan are the largest pool of funds the employer has responsibility for. Because of the employer’s understandable concern about the management of these funds, the employer appoints Dave to run a company […]

The Secure Act 2.0 deals with many benefit-related matters including changes to the prior law which generally required retirement plan fiduciaries to take reasonable action to recover any overpayment of plan benefits – even if the overpayment resulted from mistakes made by administrators of the plan. Such action would require efforts to recover benefit overpayments […]