In addition to reports about debt and other retirement worries, this week’s news included research suggesting Roth accounts are beneficial to most retirement plan participants and that public pension plans are more portable than one might think. Regulators have been busy, as Form 5500 changes have been proposed and the Internal Revenue Service (IRS) is now asking defined benefit (DB) plan sponsors applying for a determination letter to reveal any risk transfer plan language. An attorney shares how he helped a multiemployer plan member reduce withdrawal liability, and experts we turn to answer the question of when a participant loan is actually considered to be in default. Enjoy this edition of PLANSPONSOR Weekend!
Robert R. Perry, a principal in the New York City office of Jackson Lewis P.C., recently represented an employer in a withdrawal liability arbitration that resulted in the employer saving approximately $15 million.Read more >
“I noticed that you have written a number of Ask the Experts columns regarding loan defaults, but none of those Q&As appear to answer a basic question that I have. When is a loan considered to be IN default?”Read more >
Share the good news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more >
Even cases that allege potential wrongdoing on the part of a service provider are often targeted exclusively at the plan sponsor. Not so in the latest suit filed by the law firm Schlichter Bogard & Denton.