I wanted to pass along this advisory from Davis Wright Tremaine which argues for legislative action to, in essence, raise the bar that plaintiffs have to hurdle to prosecute an ERISA excessive fee class action. What I like most about it is the authors do not simply complain and ask for legislative intervention, but instead
I suspect every client I have ever represented in litigation can testify that I am overly fond of the old saying if you have the facts, argue the facts; if you have the law, argue the law; and if you have neither, jump up and down and scream. In my view, most of the time
Many years ago, back when we were closer to the tipping point where 401(k) plans replaced pensions for the majority of employees, there was a great deal of discussion about whether employees could possibly be financially ready to retire at age 65 absent pensions. I argued at the time that the discussion was wrong and
How are these two stories related? The first concerns a Nobel Prize winning economist’s proposition that the taxation and political structure of the United States plays a central role in the downward mobility of the American middle class, while the second concerns an investment fund that intends to purchase companies from their founders and eventually
This is an interesting story on Mintz Levin trying to bring more lawyers back into the office by figuring out the best way to get people, starting with the partners, to find it valuable to be there, rather than by threatening associates’ compensation or mandating certain work hours, as other firms have done. My
I didn’t intend to write a second post (here’s the first) on the ever rising tide of excessive fee litigation, but the LinkedIn algorithm, responding to my posting of my first blog post on this issue, hand delivered me another great graphic, this one by Sompo International, on the same topic. What I
Albert Feuer, who writes frequently on the technical aspects of ERISA compliance, has published an interesting new article in Bloomberg Tax’s Tax Management Compensation Planning Journal on the latest proposed legislation to alter retirement savings. Albert points out that the changes would help in allowing employees to increase their retirement savings, but would fail
Bobby Bonilla day is celebrated every July 1st, as the day on which the retired outfielder is paid $1,193,248.20 from the New York Mets, which the Mets will continue to do until the last payment in 2035. Its usually recognized in the media as the punchline of a joke about the Mets and their previous
Somehow, Shakespeare seems to have anticipated crypto; the ongoing kerfuffle over offering crypto in the investment menus of 401(k) plans is seeming more and more to be simply “sound and fury, signifying nothing.” For those of you who may have missed it, in the past several weeks, just to hit the highlights, Fidelity
This is a great article on the question of why smaller businesses do not offer retirement plans. I recommend reading it, and won’t simply restate its findings here, but instead want to add two thoughts.
First, there are many important issues in the world when it comes to retirement security for employees, but the lack