Author Archives: Richard Arenburg

DOL FAQs Guide Compliance Efforts during Fiduciary Rule Transition Period

The Department of Labor has issued guidance in the form of Frequently Asked Questions to help firms and their advisers impacted by the Fiduciary Rule know what is expected on and after June 9, 2017, on and after January 1, 2018, […]

Posted in Fiduciary Issues, Legal Updates | Tagged , , | Leave a comment

Avoiding Beneficiary Befuddlement

Retirement plans are complicated creatures to administer so it perhaps is not surprising that the process of determining the beneficiary of a deceased participant can present its own set of challenges and, if things go awry, expose a plan to […]

Posted in Legal Updates, Plan Administration and Compliance, Qualified Plans, Tax-qualified Retirement Plans | Tagged , , , | Leave a comment

IRS Views on Self-Certification of Financial Hardship

In today’s virtual world, we suspect most plan sponsors rely upon the self-certification process to document and process 401(k) distributions made on account of financial hardship. The IRS has recently issued examination guidelines for its field agents for their use […]

Posted in Legal Updates, Plan Administration and Compliance, Qualified Plans, Tax-qualified Retirement Plans | Tagged , , | Leave a comment

Will the ACA Get Trumped?

Now that the historic election between the two most unpopular candidates in recent memory has been called for Donald Trump, the questions (of which there are many) now facing the President-Elect and the rest of us are how a President […]

Posted in Commentary/Opinions/Views, Health Care Reform | Tagged | Leave a comment

Cautionary Observations from the Proposed 457 Regulations

After more than nine years of deliberations, the IRS has finally released proposed regulations governing all types of deferred compensation plans maintained by non-profit organizations and governmental entities. In issuing these regulations, the IRS reiterates its long-standing theme that these […]

Posted in Deferred Compensation, Employment Agreements, Executive Compensation, Governmental Plans, Legal Updates | Tagged , , , , | Leave a comment

Department of Labor Fiduciary Rule: Employers Should Not Overlook Impact on HSAs

The new Department of Labor rule defining the scope of who is an ERISA fiduciary (see our prior post here) has caused much consternation among investment professionals.  Much of the new rule is focused on reworking the outer fringes of […]

Posted in Fiduciary Issues, Health Plans, Legal Updates | Tagged , , | 2 Comments

Termination of a Nonqualified Retirement Plan with a Traditional Defined Benefit Formula

A recent case from a federal court in the Northern District of Georgia provides an interesting perspective on the termination of a nonqualified retirement plan with a traditional defined benefit formula offering lifetime annuity payments. In Taylor v. NCR Corporation […]

Posted in Deferred Compensation, ERISA Litigation, Executive Compensation, Legal Updates, Non-qualified Retirement Plans | Tagged , , , | Leave a comment

Overpayments to Participants

The IRS has clarified its correction guidance recently to say that errors made in overpaying participants for their benefits can be cured by employer make-up contributions, rather than by pursuing participants and beneficiaries for the overpayments they have received. In […]

Posted in Legal Updates, Plan Administration and Compliance, Qualified Plans, Tax-qualified Retirement Plans | Tagged , , | Leave a comment

Discretionary Clawback Policies: Risk of Variable Stock Plan Accounting

Companies should be aware that at least some major accounting firms are questioning whether discretionary aspects of clawback policies trigger variable accounting for compensatory equity awards granted by those companies. Existing accounting guidance (ASC 718-10-30-24) would seem to suggest that […]

Posted in Equity Compensation, Executive Compensation | Tagged | Leave a comment

Florida Stamp Tax

If your 401(k) plan maintains a participant loan program, you may discover that you have compliance concerns thanks to a relatively obscure Florida tax statue.  Under its revenue laws, Florida imposes a document tax on loan transactions that are made, […]

Posted in Legal Updates, Plan Administration and Compliance, Qualified Plans, Tax-qualified Retirement Plans | Tagged , , , , , | 4 Comments