Browsing Tag
ERISA
296 posts
ERISA (Employee Retirement Income Security Act) is a 1974 U.S. federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry. It aims to protect plan participants by requiring plans to provide information, establish fiduciary responsibilities, and give participants the right to sue for benefits and breaches of duty. ERISA also guarantees payment of certain benefits through the Pension Benefit Guaranty Corporation if a defined plan is terminated.
Finally! ERISA Record Retention Requirements in Plain English
ERISA record retention requirements. Say that five times fast. All joking aside, this is actually pretty serious business.…
Fred Reish: More on What ‘Best Interest’ Really Means (In the Real World)
In my last two posts (Bests No. 9and No. 10), I discussed the definition of the Best Interest standard…
Fred Reish: What Does Best Interest Mean . . . In the Real World?
Previously, I’ve discussed different definitions of a “best interest” standard of care. The point is that, while there…
Fred Reish: What Does ‘Best Interest’ Really Mean?
“Best Interest” has become part of the American lexicon …as an aspirational goal or a demanding standard—depending on…
Don’t Fret! Here’s How to Fix 401(k) Elective Deferral Failures
In order to encourage employers to use plan designs that include automatic contribution features (such as auto enrollment…
To-Do: Remind 401(k) Plan Sponsors to…
As the end of the year approaches, advisors may want to remind plan sponsors of deadlines for amending…
Does Anyone Really Understand 3(16) Fiduciary Services?
ERISA 3(16) fiduciary outsourcing helps plan sponsors reduce risks and ease retirement plan administration burdens effectively.
DOL Wants Your Opinion on 401(k) Auto Portability
Auto Portability Comments are open—share your views on the DOL’s proposed exemption for 401(k) rollover and retirement savings rules.
Why We Still Need Open MEP Legislation
We need incentives for more smaller employers to adopt 401(k) plans for their employees. However, the current structure…
Can States Enact Their Own Fiduciary Rules?
Who will fill the vacuum left by the demise of the Fiduciary Rule? Industry professionals and practitioners have…