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By: Stephen P. Wilkes, Partner; Mark Greenstein, Of Counsel DOL PROPOSES TOUGHER PROHIBITED TRANSACTION EXEMPTION PROCEDURES LAW The Employee Retirement Income Security Act of 1974, as amended (“ERISA”), was enacted in part to protect the retirement savings of...
The Sixth Circuit Court of Appeals, in Chelf v. Prudential Insurance Company of America, has determined that a district court erred in dismissing a claim for breach of fiduciary duty based on ERISA’s “ministerial function” exception. Specifically, the Sixth Circuit...
Wagner Law Group Legal Opinion of RightBridge Form 5500 Fee Methodology – CaiptalROCK, April 26, 2022
Plain, Ordinary Meaning v. Literal Meaning – Barry Salkin, Journal of Deferred Compensation and Benefits: Nonqualified Plans and Deferred Compensation, Vol. 27, n0. 3, Spring 2022 (PDF)
When agencies take controversial regulatory actions, it can be anticipated that those actions will be challenged in federal district courts as soon as they become operative, if not before. In other instances, a challenge to agency action will be unexpected, as was a...
The Fight to Protect Consumers Against Bad Investment Advice is Advancing, But Slowly – Marcia Wagner, CNBC, April 16, 2022 (PDF)
The IRS has issued a proposal that would amend the existing Affordable Care Act (“ACA”) regulations regarding eligibility for the law’s premium tax credit (“PTC”) to provide that the affordability of employer-sponsored minimum essential coverage for family members of...
The SECURE Act (the “Act”) made two major changes to the required minimum distribution rules under Internal Revenue Code (“Code”) Section 401(a)(9): it extended the required beginning date for distributions from age 70-1/2 to age 72, other than distributions from...
On March 28, 2022, the IRS issued a notice of proposed rulemaking to add a new section - 26 CFR section 1.413-3 Special Rules for Section 413(e) Plans - to the Code of Federal Regulations (CFR). 87 Federal Register 17225 (March 28, 2022). The proposal provides...
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