Effective December 1, 2016, the DOL will enforce a new rule regarding overtime pay. Unless an employee is specifically exempted, an employee covered by the FLSA must receive overtime pay …
Universities Facing Lawsuits Over Fiduciary Breaches Under 403(b) Plans
There has been a growing number of class action lawsuits alleging ERISA fiduciary breaches. This trend recently caught up with a number of prominent universities that sponsor 403(b) retirement plans. …
IRS Updates Correction Program For Noncompliant Retirement Plans
The IRS recently updated the correction program that it offers as a remedy for noncompliant retirement plans. The updated program continues to offer incentives to plan sponsors to conduct an …
DOL, IRS and PBGC Release Proposed Revisions to the Form 5500
The DOL, IRS and PBGC have released proposed changes to the annual Form 5500 filed for ERISA plans. These revisions have been submitted for public comment and will be effective …