Pension Protection Act Blog

As more offices go green and provide information electronically, a growing question is whether you can charge participants and beneficiaries for paper copies. There are two theories for charging participants and beneficiaries for paper copies. The first theory is that trees will be saved because participants and beneficiaries will not want to pay […]

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On July 22, 2008, the Dept. of Labor released new proposed regulations on fiduciary requirements for disclosures in participant-directed individual account plans effective for plan years beginning after January 1, 2009. Participant-directed Individual account plans are plans such as 401(k) plans where each participant has an account which they can select how they want […]

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The Dept. of Labor released the long-awaited proposed regulations on fee disclosures and fiduciary responsibilities. Officially called the proposed regulations on “Fiduciary Requirements for Disclosure in Participant-Directed Individual Account Plans”, these proposed regulations are 103 pages long and include a model disclosure notice.
The regulations are a little too involved to provide a brief summary […]

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With the economy headed south, or already at rock bottom, depending upon where you live, it is not surprising that participants are borrowing from their retirement plans. What is surprising is the amount of buzz suddenly appearing in the popular media on this topic. Since most of the public seems to actively ignore […]

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When is comes to litigating over alleged fiduciary breaches, when is a terminated employee no longer a participant. If you think the answer should be as soon as the terminated employee receives a lump sum distribution of their entire account balance, you would be incorrect according to the 1st Circuit Court of Appeals. […]

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In a recent article in the Wall Street Journal, Kelly Greene answers the question from a reader about whether her employer can keep a percentage of the matching contribution in her account because she is not fully vested. It is not the question which is so interest, but the answer, provided by David Wray, […]

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On Wednesday, the House of Representatives passed another Pension Protection Technical Corrections Act of 2008 by voice vote. This act, H.R. 6382, now heads to the Senate, where the last Pension Protection Technical Corrections Act of 2008, H.R. 3361, has been languishing since March 31, 2008. The Senate, which has already passed its […]

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I always find a stack of “stuff” on my desk after a long weekend. Like everyone, I like free stuff, high tech stuff, and stuff that is designed for pension geeks. Here is a quick rundown of some of the more interesting stuff I found on my desk this morning:
Tuesday, at 2pm ET, […]

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In a Special Edition of Employee Plan News, dated July 1, 2008, the IRS provides some guidance on sample language under Code section 409(p) for the Transfer of an ESOP’s S Corporation Shares. This plan language is designed to prevent a nonallocation year by transferring assets from the accounts of disqualified persons to the […]

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