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30Jul

FLASHPOINT: THE DOL FINALIZES MEP REGULATIONS

As discussed in our FlashPoint dated October 25, 2018, available here: https://ferenczylaw.com/flashpoint-the-new-mep-meh-proposed-regulations/, the U.S. Department of Labor (“DOL”) previously introduced proposed regulations relating to certain defined contribution multiple employer plans (“MEPs”). These regulations were issued in final form on July 29, 2019 (the “Regulation”), and offer the ability of “bona fide” organizations, associations, and professional […]
26Jul

FLASHPOINT: IF YOU SPONSOR A MEP: YOU MAY NEED TO ACT BEFORE OCTOBER 15!

The Department of Labor (DOL) issued a Field Assistance Bulletin (FAB 2019-01) on July 24, 2019, relating to Form 5500 filings for Multiple Employer Plans (MEPs). If you sponsor or administer MEPs, it is likely that this FAB applies to you. As it warns of possible compliance issues and grants transitional relief, you need to […]
17Jul

FLASHPOINT: MID-SUMMER UPDATE: MORE ABOUT REG BI AND PREVENTING MEP SPOILAGE FROM THE ONE BAD APPLE

By S. Derrin Watson, Of Counsel More About Reg BI: Identifying, Disclosing, Mitigating, and Eliminating Conflicts of Interest In our earlier Flash, “Regulation Best Interest and More,” we provided an overview of the Securities and Exchange Commission’s (“SEC”) recently finalized Regulation Best Interest (“Reg BI”), which impacts transactions between broker-dealers and retail customers, including retirement […]
04Apr

FLASHPOINT: THINGS ARE HAPPENING … FINALLY!

After a period of national quiet in relation to retirement plans, several things have occurred recently that are worth discussing. Sorry that this is a longer newsletter than we like, but we wanted to give you quick feedback on what’s finally going on. California’s State-Mandated Retirement Program Survives Preemption Challenge One of the interesting trends […]
25Oct

FLASHPOINT: THE NEW MEP (MEH!) PROPOSED REGULATIONS

The Department of Labor (“DOL”) issued proposed regulations (the “Proposal”) on October 22, 2018, that represent the first major step in changing its restrictions on multiple employer plans (“MEPs”). However, it is just the first step, and does not change the landscape for Open MEPs. The Proposal was issued in response to the President’s August […]