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Item Title: Supreme Court and the IRS Weigh In on 401(k) Plans
Summary:
The U.S. Supreme Court recently ruled that employees have a right to sue if "fiduciary misconduct" causes their 401(k) retirement plans to lose value. Meanwhile, in other 401(k) news, the IRS issued rules that make it easier for employers to use an "auto enrollment" feature in their plans. This encourages greater participation among rank-and-file employees. Added bonus: Higher-ups can also benefit. Click "Full Article" for details of both developments and what they mean for employers.
Comments:
Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.