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401(k) Distribution Rules: After Taking a Hardship Distribution, How Quickly Must a Participant Stop 401(k) Contributions?

DWC 05/8/18
Facts A participant in our 401(k) plan recently took a hardship distribution. We know we are supposed to suspend his deferrals for six months following the distribution, but we are not entirely clear on how strict that timing is and what happens at the end of the six months.
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DWC on Enterprise Radio: How Selling a Business Can Impact Your Retirement Plan

DWC 02/26/18
DWC partner Jen Gibbs Swets recently spoke with Enterprise Radio host Eric Dye to discuss selling a business and the impact it has on retirement planning. Swets, who has more than 15 years of experience in the industry, shared her expert opinion and advice on how to handle this kind of transaction, what to expect (both the good and the bad), and ...
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Exactly the Same but Completely Different

Adam C. Pozek 09/17/14
At the end of August, I made my first trip to Burning Man, an annual event held in the Black Rock Desert of northern Nevada.  With 10 guiding principles, it involves art, music and free-spiritedness.  This experiment in temporary community sees 65,000+ attendees converge on a dried-up lake bed, build a temporary city and leave behind no trace that ...
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SchoolHouse Rock Meets The 401(k) Plan

Adam C. Pozek 04/22/13
When I was kid, I used to love Schoolhouse Rock during the commercial breaks of Saturday morning cartoons.  Even now, I have them all on DVD as well as a CD of covers by various rock musicians, and I still sing along with all of them word-for-word!
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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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An In-Depth Review of Real Estate in 401(k) Plans | Part 1

Adam C. Pozek 04/25/11
“Real estate doesn't interest me. It's no doubt a great flaw in my personality, but I can't think in terms of boundaries. Those imaginary lines are as unreal to me as elves and pixies.”  -- Kurt Vonnegut, Jr.
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Are You Kidding? The Fall Will Probably Kill You!

Adam C. Pozek 03/25/11
My good friend and benefits attorney Ilene Ferenczy sends out an e-newsletter from time-to-time.  The Ferenczy Flash always includes timely, practical information for plan sponsors and service providers.  The edition she sent earlier this week highlights a very important point that often gets lost in the 401(k) shuffle - while all of the fiduciary ...
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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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Does Size Matter?

Adam C. Pozek 02/22/11
After my weekend post on "easy" plans not being so easy, I happened across this post by Ary Rosenbaum.  It is a variation on the theme and focuses more on the size of the plan rather than its design complexity.  The conclusion...size often matters when it comes to the quality of service.  Small plans (often viewed by many as being synonymous with ...
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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.