The Tax Cuts and Jobs Act (TCJA) has created several changes to the tax treatment of employee benefits. It was not signed into law until December 2017, making it difficult for many employers to have adjusted their benefits offerings for 2018. Even so, they will need to understand how the new law will affect their…Read More
One recent lawsuit alleging fiduciary duty violations caught the attention of many in the employee benefits business, not because of the nature of the charges, but instead because it involved a small employer. A string of large employers have faced similar charges and ultimately compensated participants. Even though the plaintiffs later withdrew their complaint, this article examines why the filing of this case matters. A sidebar offers several methods of allocating recordkeeping fees equitably among participants.
Damberg et al. v. LaMettry’s Collision Inc., 0:16-cv-01335 (Minn. D.C. 2016)