Contact Us (858) 444-2300


Important SECURE 2.0 Provisions

Posted by Corey F. Schechter | Dec 18, 2023 | 0 Comments

The SECURE 2.0 Act will have a significant impact on plan sponsors and retirement plans. While there are several provisions which plan sponsors should be aware of, the provisions identified below are some of the lesser-known but especially important.

Second Circuit Court of Appeals Rules that Retirement Plan Assets Are Subject to Garnishment

Posted by Paul D. Woodard | Oct 24, 2022 | 0 Comments

The anti-alienation provision under Section 206(d)(1) of ERISA provides federal protection to retirement assets from most ordinary creditors. The provision thus prohibits an assignment or alienation of pension plan benefits under each pension plan. In contrast, the Mandatory Victims Restitution Act (MVRA) requires courts to issue a restitution order in addition to a conviction against a defendant in order to compensate the victim of an offense for any damage to or loss or destruction of victim’s property.

ERISA Civil Penalties Inflation Adjustment Act Annual Adjustments for 2022

Posted by Paul D. Woodard | Feb 09, 2022 | 0 Comments

The Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 was enacted to advance the effectiveness of civil money penalties and to strengthen their deterrent effect. Outdated penalties are a problem because civil penalties are less effective when they do not keep pace with the cost of living. The law requires agencies across the federal government to adjust their penalties for inflation not later than January 15 of every year. The Department of Labor’s Civil Penalties Inflation Adjustment Act Annual Adjustment for 2022 final rule was published in the January 14, 2022 Federal Register. Below is a table that reflects the 2022 and 2021 civil money penalty amounts.


Subscribe to our Newsletter