CLIENT ALERTS

DOL’s Cybersecurity Guidance: Practical Pointers for Fiduciaries

May 17, 2021 – CLIENT ALERT Printer-friendly PDF version On April 14, 2021, the Department of Labor (“DOL”) issued important guidance concerning cybersecurity in relation to ERISA-covered employee benefit plans, with separate items directed chiefly to service providers, fiduciaries, and participants and beneficiaries (referred to in this Client Alert as “participants”).  This guidance comes in the …

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Untying the Knot: Making Sense of Guidance on Missing and Nonresponsive Participants (Part 2)

DOL Compliance and Enforcement Guidance February 25, 2021 – CLIENT ALERT Printer-friendly PDF version Part 1 of this series focused on the most wide-ranging and practical of the three recent pieces of guidance published by DOL relating to missing and nonresponsive participants – its guidance on Missing Participants – Best Practices for Pension Plans. There, we …

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Untying the Knot: Making Sense of Guidance on Missing and Nonresponsive Participants (Part 1)

Background and DOL Guidance February 18, 2021 – CLIENT ALERT Printer-friendly PDF version of Part 1 Click here for Part 2 of this series Missing and nonresponsive participants are the bane of every retirement plan administrator’s existence. Mailings come back undelivered, forms are not returned, and checks go uncashed. Benefits earned by participants remain undistributed, potentially …

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Distressed Employers Facing Skyrocketing Pension Contributions: A Non-Bankruptcy Solution

December 16, 2020 – CLIENT ALERT During these financially difficult times – with a raging pandemic, sharply reduced revenues, historically low interest rates, and pension contributions slated to increase dramatically – many employers are finding that the skyrocketing costs of funding their pension plans are threatening their viability and ultimate survival.  A little-known provision in ERISA, …

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Threat of Federal Tax Liens Looms Over PBGC 4062(e) Downsizing Liability Cases

May 28, 2014—CLENT ALERT: In recent years, many employers who have downsized or sold businesses have faced a PBGC demand for liability under ERISA Section 4062(e). The demand is typically for a portion—or in some cases all—of the full liability that would be incurred if the employer’s pension plan terminated, even though the plan remains ongoing with …

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Downsizing Employers with Ongoing Pension Plans May Face an Immediate and Significant PBGC Liability

February 18, 2009 – CLIENT ALERT: The Pension Benefit Guaranty Corporation—relying on an obscure ERISA provision that had been largely ignored for decades—is aggressively pursuing liability against downsizing employers with ongoing pension plans. On the books since 1974, ERISA Section 4062(e) empowers PBGC to make an immediate demand that an employer provide an escrow payment or …

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