America is currently facing a retirement crisis. It is commonly agreed that a best practice to decrease the coverage gap is by encouraging Americans to save for retirement via an employer sponsored 401(k). However, there are two major hurdles for employers in...
Under the American Rescue Plan Act of 2021 (ARPA), tax payers will pick up the tab for underfunded multiemployer pension (MEP) plans for the next 30 years. APRA is the $1.9 trillion stimulus package signed into law by President Biden on March 11th. The key...
A Federal District Court has ruled that recordkeepers may use participant data to cross-sell retail products. The class action suit (Harman et al vs. Shell oil Company et al) was filed in January 2020 on behalf of participants in the Shell Provident Fund 401(k)...
The Department of Labor (DOL) has recently backtracked on two final rules they published in late 2020 regarding the use of ESG (Environmental, Social, & Corporate Governance) investments in qualified plans and the voting of proxies by plan fiduciaries. A...
If you are a small employer that started a 401(k) plan during 2020 or added an auto-enrollment feature you may be eligible for a tax credit. Credit for Small Employer Pension Plan Startup Costs Eligible employers may be able to claim a tax credit of up to $5,000, for...
In August of last year, the Department of Labor published a proposed rule that plan fiduciaries must follow in voting proxies and exercising certain shareholder rights. The final rule was published December 16th of last year and is effective January 15th, 2021. Plan...
