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Plan Sponsors, Act Now – The Deadline to Submit the Updated Version of Your Pre-Approved Defined Contribution Plan Is Quickly Approaching

Posted by Corey F. Schechter | Apr 05, 2016 | 0 Comments

Plan sponsors of defined contribution plans utilizing either a volume submitter (VS) or Master & Prototype (M&P) plan (i.e., “pre-approved plans”) may be surprised to learn that a restated (or “updated”) version of their plan document must be adopted no later than April 30, 2016. See Inte...

New DOL Fiduciary Rules Make Advice By A Financial Advisor To A Participant To Take A Lump Sum From A Qualified Plan A Fiduciary Matter, Even If You Are Not The Plan’s Advisor

Posted by Robert K. Butterfield | May 27, 2015 | 0 Comments

To: Financial Advisors New DOL fiduciary rules make advice by a financial advisor to a participant to take a lump sum from a Qualified Plan a fiduciary matter, even if you are not the Plan's advisor. Thus—caveat emptor as: It is a fiduciary matter you can be sued over and disciplined by regu...

Beware of New Procedures & Guidelines

Posted by Corey F. Schechter | Feb 06, 2013 | 0 Comments

ERISA Practitioners, Employee Benefit Plan Sponsors and Administrators: Beware of New Procedures and Guidelines Issued By the IRS Regarding Its Voluntary Correction Program Which Serves to Ameliorate Non-Compliant Employee Benefit Plans of Their Tax-Qualification Errors Under ERISA and the Intern...

IRS Publishes Update to Its Annual Revenue Procedure Requesting Determination of Employee Benefit Plans Tax Qualification Status

Posted by Corey F. Schechter | Jan 10, 2013 | 0 Comments

Although not required, an employer has the option of seeking an advance determination as to the qualified status of its retirement plan by the Internal Revenue Service (“IRS”), rather than waiting for the IRS to review the plan in connection with an audit. This written advance determination is ca...

Conflicting Summary Plan Description Information

Posted by Paul D. Woodard | Sep 14, 2012 | 0 Comments

An issue may arise when the terms of the plan document conflict with the terms of the summary plan description (“SPD”). In Cigna Corp. v. Amara, the Supreme Court recently held that SPD language does not become part of the terms of a plan document. The Court made it clear that “summary documents,...

Retirement Plans

We help establish a customized plan that meets regulatory requirements as a tax qualified plan. Following implementation, our attorneys can assist clients and their plan administrator with regular reviews and updates to help with regulatory compliance for the plan's operation, and continued effectiveness in meeting the client's specific goals.

ESOPs

We are dedicated to employee ownership. When you come to us for ESOP services, you receive influential legal counsel who stand beside you to help you stay informed, in compliance, and abreast of the latest developments-all to help you realize your plan goals as fully and effectively as possible.

QDROs

A QDRO is a specially designed court order that is required for the division of retirement benefits in a family law case. Many family law attorneys do not possess the expertise necessary to divide retirement benefits or stock options upon divorce. We have extensive experience in dividing qualified plans, government plans, IRAs and stock options between the employee spouse and non-employee spouse.

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