Mintz Levin Benefits attorney Patricia Moran recently published an article in SHRM describing the cybersecurity risks involved with 401(k) Plan sponsorship.  The article is a great resource for employers who sponsor 401(k) or other retirement plans, especially those who share employees’ sensitive information with third party administrators. For the full story, click here.

Happy New Year! It’s that time when we all vow to better ourselves in the months ahead. Resolutions abound, and they need not be limited to individual self-improvement. Employers too have many opportunities for betterment in the New Year. In the area of employee benefits, we offer these four goals for 2018.

Continue Reading New Year’s Resolution #5: Four Employee Benefits Resolutions for 2018!

The Supreme Court has decided an important statute of limitations issue in an ongoing fiduciary breach case, Tibble v. Edison InternationalTibble has attracted attention up to this point for its substantive claim: that plan fiduciaries breached their duty of prudence when they failed to use the plan’s status as an institutional investor to gain an edge on fund fees.  Instead of offering lower-cost institutional-class mutual funds, which were available to the plan because of its pooled investment resources, the plan fiduciaries in Tibble offered 401(k) plan participants the option of investing only in retail-class funds, with higher fees and expenses that were passed on to participants.

Continue Reading Duty to Monitor Investments Extends Statute of Limitations for Fiduciary Breach Claim Says Supreme Court

Written by Ann Fievet

Last Friday, the IRS provided guidance on ways for employers to reduce or eliminate the employer contribution to a safe harbor 401(k) plan mid-year, guidance which employers looking to enhance their bottom lines will welcome with open arms. For employers who satisfy the employer contribution requirement of their safe harbor 401(k) plan through nonelective contributions, these new rules provide some additional flexibility and may warrant changes to the annual safe harbor notice for the 2014 plan year.

Continue Reading Want to reduce or suspend safe harbor 401(k) employer contributions mid-year? IRS final regulations provide a new way.