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Articles by James Crossen
Another 401(k) Plan Fiduciary Defeats Breach of Fiduciary Duty Claims at Trial | JD Supra
Following a bench trial in a Pennsylvania federal district court in Nunez v. B. Braun Medical, Inc., 401(k) plan fiduciaries defeated a lawsuit alleging that the fiduciaries imprudently managed and paid excessive recordkeeping and investment management fees. The B. Braun Medical fiduciaries’ win follows on the heels of a jury trial win by fiduciaries of Yale University’s 403(b) plan.
Another 401(k) Plan Fiduciary Defeats Breach of Fiduciary Duty Claims at Trial
Following a bench trial in a Pennsylvania federal district court in Nunez v. B. Braun Medical, Inc., 401(k) plan fiduciaries defeated a lawsuit alleging that the fiduciaries imprudently managed and paid excessive recordkeeping and investment management fees. The B. Braun Medical fiduciaries’ win follows on the heels of a jury trial win by fiduciaries of Yale University’s 403(b) plan.
Congressional Leaders Address SECURE 2.0 Act Glitches | JD Supra
July 13, 2023 To embed, copy and paste the code into your website or blog: The SECURE 2.0 Act made sweeping changes to Internal Revenue Code (Code) and ERISA provisions governing employee benefit plans.
Congressional Leaders Address SECURE 2.0 Act Glitches
Skip to content The SECURE 2.0 Act made sweeping changes to Internal Revenue Code (Code) and ERISA provisions governing employee benefit plans. In a recent letter to the Department of the Treasury and the Internal Revenue Service, the Chairmen and Ranking Members of the House Ways and Means Committee and the Senate Finance Committee addressed a number of ambiguities and technical errors in the SECURE 2.0 Act and signaled their intent to introduce technical correction legislation.
Health Plan Coverage and Documentation Following the End of the COVID-19 Emergencies | JD Supra
The COVID-19 national emergency and public health emergency officially ended on April 10 and May 11, 2023, respectively.
Health Plan Coverage and Documentation Following the End of the COVID-19 Emergencies
The COVID-19 national emergency and public health emergency officially ended on April 10 and May 11, 2023, respectively.
COVID-19 National Emergency Plan Deadline Extensions Set to End This Summer | JD Supra
On January 30, 2023, President Biden announced the Administration’s plan to extend the current declarations of the COVID-19 national emergency and public health emergency (PHE) through May 11, 2023, and end both emergencies on that date. The end of the national emergency, which was originally declared in March 2020, will cause certain employee benefit plan-related deadline extensions to conclude this summer.
New Kids on the Block: IRS Creates Determination Letter Program for Individually Designed 403(b) Plans | JD Supra
The Internal Revenue Service (IRS) has announced that beginning June 1, 2023, it will accept determination letter applications for individually designed 403(b) retirement plans. As background, 403(b) plans are a distinct type of retirement plan for employees of 501(c)(3) tax-exempt organizations and public schools (including colleges and universities). Despite the formal distinction, though, in many respects modern 403(b) plans often resemble 401(k) plans.
The Annual Form 5500 Audit: DOL Broadens Criteria for Independent Qualified Public Accountants | JD Supra
The Department of Labor (DOL) recently removed one regulatory hurdle for public companies that maintain employee benefit plans subject to the Form 5500 requirement. Specifically, the DOL has relaxed the criteria for who qualifies as an “independent qualified public accountant,” or “IQPA.” This matters to employers because it will open the market to new accounting firms that can issue the accountant’s report for the Form 5500 annual filing.
Stay Tuned – the DOL Regulatory Agenda | JD Supra
The Department of Labor (“DOL”) recently published its Spring 2022 Regulatory Agenda, and here is a summary of several big ticket items: ESG & ERISA: Plan sponsors and investment professionals have been waiting for final rules on the permissible use of environmental, social, and governance (“ESG”) considerations under ERISA when selecting plan investments and exercising shareholder rights with respect to plan assets.
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