In Case You Missed It: Spotlight on Benefits – 2024 Winter

Written by members of Faegre Drinker’s benefits and executive compensation team, this blog features analysis and information on matters related to retirement plans, health and welfare plans, ESOPs, fiduciary governance, and other benefits issues.

This quarterly digest provides links to our most popular posts during the past few months so that you can catch up on what you missed or re-read them.

ERISA Moments, Ep. 13: Rollover Recommendations Will Be Fiduciary Advice … And What About Withdrawals?

By Bradford Campbell and Fred Reish
We’re looking at the DOL’s fiduciary proposal and the prohibited transaction exemptions associated with it. In this episode, Fred and Brad are talking about rollovers. The proposed definition of fiduciary advice basically says that a one-time investment recommendation can result in an adviser or insurance agent becoming a fiduciary.

Five Habits of the Healthy Health Plan Fiduciary

By Kendra L. Roberson
As it is often said, “the only constant in the world is constant change.” So it is important for health plan fiduciaries to periodically review the fundamentals for consistency and compliance to avoid risk and costly mistakes. We provide a health plan fiduciary checklist — with five actions that health plan fiduciaries can take to help keep an organization safe and successful.

Roth Employer Contributions

By Doug Heffernan and Mark Rosenfeld
On December 20, 2023, the IRS issued Notice 2024-2, which provides question-and-answer guidance on various aspects of the SECURE 2.0 Act. This post focuses on the ability to make employer contributions (match or nonelective) as Roth contributions under SECURE 2.0 Act, Section 604.

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