The DOL recently issued Field Assistance Bulletin 2014-01 which details procedures fiduciaries should take to find missing participants and properly distribute account balances. The Bulletin suggests that fiduciaries use certified mail, check related plan and...
The U.S. Government Accountability Office (“GAO”) publicly released on July 29, 2014 a report on managed accounts in defined contribution plans. Below is the summary of the report (GAO-14-310). Why GAO Did This Study 401(k) plan sponsors have increasingly offered...
Rules provide for greater security by giving American families more flexibility to plan for retirement and protect themselves from outliving their savings On July 1, 2014, the U.S. Department of the Treasury and the Internal Revenue Service issued final rules...
The IRS has issued Notice 2014-35 which provides relief from late-filing penalties from the annual reporting requirements under Form 5500 series with respect to employee benefit plans. Under the notice, the IRS will not impose penalties relating to the filing of Form...
On April 4, 2014, the IRS issued Notice 2014-19, which provides guidance on how qualified retirement plans should treat the marriages of same-sex couples following the Supreme Court’s decision in United States v. Read...
