Tag Archives: prohibited transaction

Fiduciary Investment Advice: Implications Of Department Of Labor Prohibited Transaction Exception 2020-02

Employers who sponsor and maintain retirement plans on behalf of their employees and who engage investment advisors to provide investment-related advice to participants may take comfort in knowing there is a new prohibited transaction exemption under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and the Internal Revenue Code (the “Exemption”) designed … Continue Reading

COVID-19 And Late Remittances of Employee Deferrals to 401(k) Plans

Many employers facing economic challenges because of COVID-19 have considered several possibilities for reducing their contributions to their 401(k) plans.  Whether freezing safe harbor matching or nonelective contributions or deciding against making discretionary matching and/or profit-sharing contributions, the goal has been the same: reduce their employee benefits costs. What many employers have not focused on … Continue Reading
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