"This article summarizes the voluntary correction programs administered by the [IRS] and the [DOL], identifies the most common 401(k) plan errors, walks readers through their corresponding correction methods, and includes a brief 'best practices' section to help safeguard against the occurrence of future plan errors."  MORE >>

"If you have a TPA and are wondering how you might be able to tell if they're doing a fantastic job, you might ask them how they help you to identify and correct common errors made by businesses over the course of the day-to-day administration. Here are a few of them."  MORE >>

"The General Accountability Office (GAO) has determined that the PBGC did not violate its appropriations authority when adopting two interest rates for projecting the amount of multiemployer DB relief in the form of special financial assistance (SFA) needed. The GAO's narrow decision on appropriations law was in response to a query from the PBGC's Inspector General whether the PBGC's final rule approach raised issues under the Antideficiency Act."  MORE >>

"The Matney case, as well as the Home Depot case, involve a common question, namely which party in a 401(k)/403(b) litigation action has the burden of proof on the issue of loss causation. The problem is that there is currently a split of opinion on the question in the federal courts, effectively denying some plan participants the rights and protections guaranteed to them under ERISA." [Matney v. Barrick Gold of N. Am., Inc., No. 20-275 (D. Utah Apr. 21, 2022; on appeal to 10th Cir. No. 22-4045); Pizarro v. The Home Depot Inc., No. 18-1566 (N.D. Ga. Sep. 30, 2022; on appeal to 11th Cir. No. 22-13643)]  MORE >>

"Perhaps it's better to seek the answer why financial service providers generate these surveys and why reporters never fail to report on them."  MORE >>

"Though it has not happened yet, DC plan sponsors will heed the lessons and warnings ... that they must conduct periodic due diligence for all vendors paid out of plan sponsors, even co-fiduciaries.... So what would happen to most DC advisory practices if their plan fees were at or close to zero? Those that cannot offer participants services, which is what most DC plan sponsors want now, will scramble to compete with those who can ... It is a true paradigm shift which may be accelerated as RIAs with deeper wealth management resources and expertise enter the DC market."  MORE >>

"This article offers ideas about how company policies could be crafted to help minimize questions about their function and application when a restatement takes place. [The] goal is to help companies strike a balance between being expansive enough for the board or Compensation Committee to have authority and discretion to make tough decisions yet specific enough to avoid definitional ambiguity that may lead to future disputes."  MORE >>

"A thorough review of the compensation arrangements of the target company should be conducted early in the transaction process as part of the broader due diligence process. This review allows the acquirer to gain a comprehensive understanding of the target's compensation program and to uncover any compensation-related liabilities or legal/regulatory compliance issues ... The acquirer's compensation diligence may surface information needed to accurately draft the transaction documents and to plan for post-closing integration of the target's compensation programs."  MORE >>