Compliance October 16, 2011

EBSA Issues Q&A on Multiemployer Plans

The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) has issued a list of frequently asked questions regarding Multiemployer Plans.

Reported by

A multiemployer plan is an employee benefit plan maintained pursuant to a collective bargaining agreement between more than one employer, usually within the same or related industries, and a labor union.

The FAQs describe arrangements in which a multiemployer plan leases office space or classroom space to or from a sponsoring union or other party who has a relationship to the plan and the prohibited transaction rules that are violated by those arrangements. Also addressed are the administrative and statutory exemptions that may apply with an analysis of the specific prohibited transaction provisions that are covered by each exemption.

For more stories like this, sign up for the PLANADVISERdash daily newsletter.

The FAQs also describe the consequences to a plan fiduciary if a leasing arrangement is prohibited but does not qualify for an exemption.

The questions and answers are available at http://www.dol.gov/ebsa. 

Products October 14, 2011

Investment Firm Launches Open Architecture 401(k) Solution

Flexible Plan Investments has launched a turnkey, open architecture 401(k) solution called Strategic Advantage 401k.
Reported by

Strategic Advantage 401k provides plan design, custody, recordkeeping, and three levels of active investment management: core fiduciary services to reduce plan sponsor liability; age-based, risk-managed QDIA accounts; and custom, suitability-based managed accounts for electing participants.   

Flexible Plan has partnered with Trust Company of America to deliver managed investments and complete custodial services at a cost-effective price. 

For more stories like this, sign up for the PLANADVISERdash daily newsletter.

More information is available at http://www.flexibleplan.com.

«