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“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
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Search the News Archive
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53 Matching News Items |
| 1. |
Ary Rosenbaum, The Rosenbaum Law Firm P.C. via JDSupra
Jan. 30, 2012
With fee disclosure regulations to be effective on April 1, 2012, many retirement plan sponsors like you may be on the lookout for hiring a new third party administrator (TPA) after they find out [that] the fees they are actually paying to the old one are unreasonable. Even if you are not looking for a new TPA, as a plan fiduciary, you need to shop around your plan to other TPAs in order to make sure you are exercising your fiduciary responsibility prudently by confirming that the fees you pay to the TPA are reasonable for the services provided.
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| 2. |
Ary Rosenbaum, The Rosenbaum Law Firm P.C. via JDSupra
Aug. 11, 2025
"The intent behind the Roth mandate may be noble -- getting more tax revenue now, simplifying retirement income later -- but implementation is another story. Without clarity, we're going to see a lot of errors, a lot of compliance risk, and a lot of unhappy plan sponsors. This isn't about dodging the Roth rule. It's about making it administrable."
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| 3. |
Ary Rosenbaum, The Rosenbaum Law Firm P.C. via JDSupra
Aug. 4, 2025
"Here are five types of content you should be producing: [1] The 'Are we doing this right?' checklist ... [2] Short videos or posts on fiduciary duties ... [3] Quarterly 'What's new in 401(k)' updates ... [4] Case studies ... [5] Participant-facing tools they can share ... [P]lan sponsors are busy, confused, and terrified of doing something wrong. Your content should solve problems, reduce fear, and make you the provider they trust to keep them out of trouble."
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| 4. |
Ary Rosenbaum, The Rosenbaum Law Firm P.C. via JDSupra
July 31, 2025
"On June 30, the DOL issued a Direct Final Rule (DFR) announcing the removal of several long-standing ERISA Interpretive Bulletins ... Interpretive Bulletin 75-2 ... Interpretive Bulletin 75-6 ... Interpretive Bulletin 75-10 ... The DOL isn't changing any rules here -- they're just pruning old ones that no longer apply."
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| 5. |
Ary Rosenbaum, The Rosenbaum Law Firm P.C. via JDSupra
July 30, 2025
"[T]his rule, though well-intentioned, brings with it a level of administrative complexity that even seasoned ERISA professionals wince at.... The IRS tried to help with proposed regulations, but in classic IRS fashion, the guidance added as many questions as it answered. ... So, what should plan sponsors be thinking about now, not in 2026?"
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| 6. |
Ary Rosenbaum, The Rosenbaum Law Firm P.C. via JDSupra
July 6, 2025
"if there's a recurring theme in this industry, it's that too many plan sponsors are completely asleep at the wheel. They want the best for their employees, sure. But then they get cheap, they get controlling, and worst of all, they get complacent. That trifecta isn't just bad for business -- it's a roadmap to fiduciary liability and potential disaster. Let's call it what it is: negligence in slow motion."
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| 7. |
Ary Rosenbaum, The Rosenbaum Law Firm P.C. via JDSupra
May 19, 2025
"AI can do some pretty cool stuff. Chatbots that answer participant questions at 2 a.m.? Great. Tools that flag eligibility errors before the auditor does? Even better. But here's where the honeymoon ends -- because while AI might make life easier, it also comes with enough legal and compliance baggage to give any sponsor a fiduciary ulcer."
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| 8. |
Ary Rosenbaum, The Rosenbaum Law Firm P.C.
July 16, 2025
"[A]llowing collective investment trusts (CITs) in 403(b) plans could save the median plan participant about 0.08% to 0.09% annually compared to mutual fund fees -- translating into $23,000-$28,000 less paid in fees by age 65 for someone earning $74,000 a year. That's enough to cover six months of living expenses in retirement for one person."
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| 9. |
Ary Rosenbaum, The Rosenbaum Law Firm P.C. via JDSupra
July 24, 2025
"This case should resonate far beyond Minnesota. It's a warning to every plan fiduciary, committee member, and corporate executive who views their retirement plan as a box to check or a line item to manage: ERISA doesn't care how big your company is or how glossy your benefits brochure looks. It cares whether you're putting participants first.... If that sounds like a high bar, good. It's supposed to be." [Snyder v. UnitedHealth Group, No. 21-1049 (D. Minn. settlement approved Jun. 24, 2025)]
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| 10. |
Ary Rosenbaum, The Rosenbaum Law Firm P.C.
Jan. 29, 2025
"While paying unreasonable plan expenses is a breach of fiduciary duty, picking providers solely or mainly because they are low in fees can also breach a fiduciary duty.... Prudence requires the plan fiduciaries to document decisions and the basis for those decisions. So in hiring any plan provider, a fiduciary should survey several potential providers. By doing so, a fiduciary can document the process and make a meaningful comparison and selection."
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