Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, An Update on the DOL Fiduciary Proposals: A Race to the Finish, below.
Tag: ERISA Fiduciary
Can ChatGPT be Your ERISA Counsel?
Is ChatGPT sufficiently reliable to provide advice on employee benefits matters? Not yet, but ChatGPT and generative Artificial Intelligence may likely be useful tools for employee benefits attorneys in the future.[1]
As it is late March, we asked ChatGPT 3.5 to solve a common issue: an individual made deferrals above the Internal Revenue Code § 402(g) limit (although typically these are referred to as “excess deferrals,” in the ChatGPT 3.5 reply it uses both “excess contribution” or “excess deferral” interchangeably. In the Faegre comments, we use the term “excess deferral.”). As background, the Internal Revenue Code limits the amount of employee deferrals that can be made within a participant’s taxable year (almost always the calendar year). In 2023, that limit was $22,500. An individual who participates in more than one 401(k)/403(b) plan is responsible for monitoring whether they exceed the limit with respect to all plans in which the individual participates.
ERISA Moments Ep. 21: The DOL Fiduciary Proposals and Rollover Recommendations
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, The DOL Fiduciary Proposals and Rollover Recommendations, below.
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ERISA Moments Ep. 20: Automatic Portability of Safe Harbor IRAs and the DOL Guidance
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, Automatic Portability of Safe Harbor IRAs and the DOL Guidance, below.
ERISA Moments Ep. 19: The Fiduciary Rule: Effective Date and Lawsuits
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, The Fiduciary Rule: Effective Date and Lawsuits, below.
Continue reading “ERISA Moments Ep. 19: The Fiduciary Rule: Effective Date and Lawsuits”
ERISA Moments Ep. 18: Plan Sponsors and SECURE 2.0: IRS “Grab Bag” Guidance
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, Plan Sponsors and SECURE 2.0: IRS “Grab Bag” Guidance, below.
Continue reading “ERISA Moments Ep. 18: Plan Sponsors and SECURE 2.0: IRS “Grab Bag” Guidance”
ERISA Moments Ep. 17: The DOL Fiduciary Proposal’s Impact on Banks and Trust Departments
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, The DOL Fiduciary Proposal’s Impact on Banks and Trust Departments, below.
ERISA Moments Ep. 16: DOL Fiduciary Hearings and Comment Letters: Part 2
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, DOL Fiduciary Hearings and Comment Letters: Part 2, below.
Continue reading “ERISA Moments Ep. 16: DOL Fiduciary Hearings and Comment Letters: Part 2”
ERISA Moments Ep. 15: DOL Fiduciary Hearings and Comment Letters: Part 1
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, DOL Fiduciary Hearings and Comment Letters: Part 1, below.
Continue reading “ERISA Moments Ep. 15: DOL Fiduciary Hearings and Comment Letters: Part 1”
ERISA Moments Ep. 14: What do PTEs 2020-02 and 84-24 Require For Rollover Recommendations?
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, What do PTEs 2020-02 and 84-24 Require For Rollover Recommendations?, below.