Understanding Employee Benefits


Posts from Abigail Clark

High Points of Trump’s Retirement Security Executive Order: MEPs, Benefit Plan Disclosures, Required Minimum Distribution Changes Anticipated

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On August 31, 2018, President Trump signed an executive order outlining the administration’s priorities for American retirement plans. Emphasizing that as many as 34 percent of workers do not have access to a workplace retirement plan, the order outlines the administration’s plan for increasing workplace retirement plan availability. The first... Read More

Topics: Fiduciary Guidance, Form 5500s, Retirement Plans, Uncategorized

Too Much of a Good Thing? Environmental, Social and Governance Investment Considerations for Plan Fiduciaries (FAB 2018-01 Part 1)

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On April 23, 2018, the DOL released Field Assistance Bulletin (FAB) 2018-01 relating to (1) plan investment in “economically targeted investments (“ETIs”), (2) the exercise of shareholder rights and (3) investment policy statements. We will address the first of these topics in today’s post. Generally, ETIs are investments that promote... Read More

Topics: Fiduciary Guidance, Retirement Plans

To Be Determined? IRS Requests Comments Regarding Potential Determination Letter Program Expansion in 2019

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The IRS announced on April 5th that the agency is seeking input on whether (and how) the individually designed retirement plan determination letter program should be expanded for the 2019 calendar year. Notice 2018-24 requests stakeholder comment regarding additional situations in which sponsors of individually designed plans should have access... Read More

Topics: Fiduciary Guidance, Retirement Plans, Uncategorized

Thanks for Noticing: Disability Claims Procedure Regulations Change Notice Requirement Next Month, Impose Strict Compliance Standard

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29 C.F.R. §2560.503-1 The DOL’s revised ERISA disability claims procedures regulations will be taking effect early next month, and plan sponsors should take a hard look at plan processes over the next few weeks to ensure compliance. The new requirements apply to disability benefit claims filed after April 1, 2018,... Read More

Topics: ERISA and Other Benefits Litigation, Fiduciary Guidance, Retirement Plans, Welfare Plans

IRS and Treasury Department Seek Input on How Plan Sponsors Can Avoid Plan Document Problems

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On September 16, 2016, the IRS and the Department of the Treasury requested public comment on ways the IRS and Treasury “can improve compliance…by making it easier for plan sponsors to satisfy requirements for qualified plan documents” in the wake of the determination letter program changes (Announcement 2016-32). In June,... Read More

Topics: Fiduciary Guidance, Retirement Plans