The Internal Revenue Service (IRS), Department of Labor (DOL), and Pension Benefit Guaranty Corporation (PDGC) collectively developed the Form 5500-series returns for employee retirement plans to satisfy annual reporting requirements under ERISA and the Internal Revenue Code. Form 5500 is filed with...
In a second decision staying the rule in the same week, the US District Court for the Northern District of Texas agreed, noting that, among other things, the DOL overstepped its authority through its interpretation of “investment advice” for purposes of fiduciary status under ERISA.[10]It ...
Darkness at Noon: Judicial Interpretation May Have Made Things Worse for Benefit Plan Participants under ERISA Than Had the Statute Never Been Enacted It suggests employees are worse off than they would have been had the statute never been enacted. How this came to be is worth considering. At ...
Other AHP rules might fall under state guidelines rather than the national government. While there are cross-country consumer protection laws that apply to association health plans, many state regulations keep away from the subject of AHPs. AHPs might not need to meet the stricter financial ...
If an advisor is acting as a fiduciary under the Employee Retirement Income Security Act (ERISA), they are subject to the higher standard—the fiduciary best-advice standard rather than the lower, merely suitable advice standard. Their designation can limit products and services they are allowed ...
Another key factor is whether the group annuity policy will satisfy ERISA (Employee Retirement Income Security Act of 1974) standards for employer-sponsored retirement plans. Other considerations are liability protection and the associated costs.
Under Section 125 plans, employees have to pay expenses up front. Depending on the benefit, out-of-pocket expenses must be paid first and then reimbursed once a claim is filed Considering that Section 125 plans reduce taxable income, they may also reduce employee benefits such as Social Securit...
Nonqualified plans includedeferred-compensation plans, executive bonus plans, andsplit-dollar life insurance plans. Of course, it gets complicated. Individual retirement accounts (IRAs) are not qualified plans because they are not set up by an employer and therefore don't fall under ERISA rules. T...
A nonqualified retirement plan, which does not fall under ERISA guidelines or have tax benefits recognized by the IRS, may be discriminatory or selective in nature. Understanding Nondiscrimination Rules Nondiscrimination rules must be kept up even when retirement plans such as401(k)sare amended or ...
INHERITING DIGITAL ASSETS: DOES THE REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT FALL SHORT? This Article proposes a uniform standard of review to be applied in ERISA employer stock class action suits. It discusses ERISA, types of retirement plans,... P Sheridan - 《Ohio State Technol...