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Accidents Will Happen

Adam C. Pozek 02/24/13
If you’ve spent any time working with retirement plans, you know how complicated they can be.  It seems like every rule has an exception and an exception to that exception.  It is no wonder that accidents occasionally happen - and correction is required - despite everyone’s best efforts to follow the rules.
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Happy MEP-morial Day From The DOL

Adam C. Pozek 05/29/12
Back in March, Assistant Secretary of Labor Phyllis Borzi testified before a Senate committee, expressing concern about whether open MEPs can be treated as single plans under ERISA since there is no commonality among adopters.  A recording of her testimony is here, with the MEP comments beginning around the 36th and 43rd minutes.  Some ...
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Werewolves of Pension

Adam C. Pozek 03/17/11
I was recently asked to write an article on ERISA Section 404(c).  As I contemplated how to approach the article, I recalled many situations in which I have heard 404(c) pitched as the mythical silver bullet to save plan fiduciaries from the specter of liability associated with participant-directed investments.
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Reasonableness Requirement Is Not New

Adam C. Pozek 02/24/11
An article appeared yesterday on CFO.com entitled “New 401(k) Obligations Heaped on CFOs” and it carried a tagline stating “New disclosure rules abound, but pay close attention or you could be sued by plan participants.”
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Easy Peasy Lemon Squeezy…Not When It Comes To Retirement Plans

Adam C. Pozek 02/20/11
Qualified plans are complicated beasts regardless of size or design.  This truth is sometimes forgotten at this time of year when sponsors and service-providers are busy dealing with nondiscrimination testing and contribution calculations.  I've many situations in which a plan sponsor decided to skip testing for a year, because their plan was so ...
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Confession Is Good For The Soul…And The Checkbook

Adam C. Pozek 09/24/10
Over the last few weeks, I have spoken with at least four plan sponsors who just became aware that they missed the April 30, 2010 deadline to restate their plan documents for EGTRRA.  For those in certain federally declared disaster areas, the deadline was extended to July 30, 2010.
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The Plan Document – More Like Guidelines or Actual Rules?

Adam C. Pozek 03/30/10
As the EGTRRA restatement window closes for pre-approved DC plans and begins to open for pre-approved DB plans, I thought I would pontificate on the importance of the plan document. Qualified plans are required to be maintained pursuant to a written plan document.  Operating the plan inconsistent with terms in that document is an operational ...
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The views expressed in this blog are those of the authors and do not necessarily represent the views of any other person or organization. All content is provided for informational purposes only and is not intended to be tax or legal advice.