Market Talk
august 05, 2010 06:31am
Fund Fact sheets offer 404(c) Protection
As you know many 401(k) plan sponsors design their plans to satisfy ERISA section 404(c) so that they can limit fiduciary liability for participant investment decisions. Essentially, if an individual account plan meets the 404(c) requirements, the plan’s investment fiduciaries are responsible for the selection and monitoring of available investment options, but are not responsible for losses that result from the actual investment decisions made by plan participants. Hereunder is an excerpt from an article written by Summer Conley from the law offices of Reish & Reicher:
march 14, 2010 11:06am
Salary Deferrals Deposited Within 7 Busi
The Department of Labor (DOL) has issued a new "safe harbor" for deposit of employee contributions to small 401(k) plans. The "safe harbor" is now 7 business days following withholding of employee contributions from the employees' paychecks. This provides a level of certainty to plan sponsors. If you exceed 7 business days you must give the plan lost earnings for each day your deposit was late for that pay period.
november 23, 2009 11:06am
Obama Announces Retirement Plan
President Obama on Saturday announced an effort to encourage increased retirement savings by American workers, hoping to counter the losses suffered during the economic crisis of the last year.