Prudent appointment and monitoring of Russell Investments Trust Company (“Russell”) as an ERISA section 3(38) investment manager by the 401(k) Plan Committee (“Committee”) for the Caesars Entertainment Corporation Savings & Retirement Plan (“Plan”) recently paid dividends for the Committee and the plan sponsor, Caesars Holdings, Inc. (“Caesars”)
The IRS has issued long-awaited final regulations regarding the requirement included in the SECURE 2.0 Act of 2022 that catch-up contributions made during a plan year under a 401(k) or 403(b) plan by participants with FICA wages from the employer sponsoring the plan during the prior calendar year that exceed a specified dollar amount may
On August 7, 2025, President Trump issued an Executive Order (“Order”) directing the Department of Labor (“Department”) and U.S. Securities and Exchange Commission (“SEC”) to, no later than February 3, 2026, issue rules or guidance – potentially including a safe harbor – intended to encourage the inclusion of alternative assets, such as private equity, cryptocurrency
On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (“OBBBA”). Among other things, the OBBBA created a “starter” individual retirement account called a “Trump Account” and authorized a program under which an employer can make non-taxable contributions to an employee’s Trump Account. Employers considering the new Trump
Effective January 1, 2024, the Setting Every Community Up for Retirement 2.0 Act (“SECURE 2.0”) allows employers to make matching contributions under defined contribution plans based on employees’ qualified student loan payments. Although student loan matching contribution programs could provide a significant new benefit for employees with student loan obligations, few employers have amended their
News coverage of the current administration’s enforcement of immigration policies has demanded the attention of the entire country. It should therefore come as no surprise that this issue has permeated every corner of the legal world, and the law governing retirement plans is no exception. What may come as a surprise given the prevalence and
The University of Pennsylvania suffered a setback in the first ERISA fee case against a university to be decided by a U.S. Court of Appeals. In Sweda v. the University of Pennsylvania, a divided panel of the Third Circuit ruled 2-1 that the district court had erred in granting the university’s motion to dismiss.