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The midpoint of the calendar year presents an ideal opportunity for retirement plan sponsors to assess their plan’s compliance status. Conducting a mid-year review not only helps identify and correct administrative errors early, but it also leverages the expanded options available under the IRS’s Employee Plans Compliance Resolution System (EPCRS), including the Self-Correction Program (SCP). These updates, outlined in IRS Revenue Procedure 2021-30, empower plan sponsors to fix a broader range of plan errors without the need for formal IRS approval.

Administering a retirement plan comes with a host of responsibilities—and occasional errors are inevitable. Fortunately, the IRS offers several correction pathways under its Employee Plans Compliance Resolution System (EPCRS) to help plan sponsors preserve the tax-qualified status of their plans. Below, we’ve compiled answers to some of the most frequently asked questions related to the Self-Correction Program (SCP), Voluntary Correction Program (VCP), and Audit Closing Agreement Program (AuditCAP).

As a plan sponsor, you're responsible for safeguarding the retirement and health benefit information of your employees. With more benefit-related activities occurring online, cybersecurity is no longer just a tech issue, it’s a fiduciary responsibility.

Sponsors and administrators of defined benefit pension plans (DBPPs) have a legal obligation to fund their plans in accordance with minimum contribution requirements under the Internal Revenue Code (IRC). A failure to make these contributions can result in significant penalties and endanger plan qualification. However, in certain cases, for single-employer DBPPs, relief may be available under IRC § 412(c).

Recent legislative developments at both the federal and state levels underscore a growing commitment to promoting employee stock ownership plans (ESOPs) as a means to empower workers and foster inclusive economic growth. In May 2025, significant strides were made with the introduction of two federal bills aimed at enhancing ESOP structures, alongside California's proposed SB-713, which seeks to integrate ESOP considerations into state contracting processes.

Dividing retirement accounts in a divorce can be one of the most complex aspects of property division. When a qualified retirement plan is involved, a Qualified Domestic Relations Order (QDRO) is necessary to legally allocate plan benefits to an alternate payee—typically the non-employee spouse. But what happens when there’s an outstanding loan on the account?

As we move through 2025, the Employee Retirement Income Security Act of 1974 (ERISA) remains a cornerstone of employee benefits law. For plan sponsors, keeping up with ongoing changes in regulatory guidance, enforcement trends, and litigation risks is critical. Here’s a practical overview of what plan sponsors need to know this year to stay compliant and protect plan assets and participant rights.

Dividing retirement benefits during a divorce can be complicated. A key tool in this process is a Qualified Domestic Relations Order (QDRO), a legal order that ensures retirement plan benefits are properly allocated between a plan participant and an alternate payee (typically a former spouse or dependent). Understanding how QDROs work can help avoid costly delays and protect everyone’s interests.

When going through a divorce, dividing retirement accounts is often one of the most complex — and overlooked — aspects of the process. A Qualified Domestic Relations Orders (QDROs) is a legal tool used to divide certain retirement plans. Unfortunately, many individuals (and sometimes their attorneys) make mistakes that can cost them thousands in retirement benefits.

A recent published opinion from California’s Fourth District Court of Appeal has opened the door to using Qualified Domestic Relations Orders (QDROs) to satisfy breach of fiduciary duty awards—even when the QDROs assign 100% of a party’s ERISA-governed retirement benefits, including amounts earned after the marriage. The case, In re Marriage of DeBenedetti & Ensburg, No. D082801, 2024 WL 1470780 (Cal. Ct. App. Apr. 5, 2024), may soon become a touchstone for attorneys navigating postjudgment enforcement of marital property rights.

Qualified Domestic Relations Orders (QDROs) are critical in dividing retirement benefits during divorce proceedings. Given the substantial value these benefits represent, it's essential for both plan administrators and participants to understand the legal requirements and procedural nuances involved. When issues such as ambiguous order language, non-compliance with ERISA, or delays in processing arise, they can quickly lead to disputes—and ultimately, litigation. Being proactive and well-informed can help prevent costly legal battles and ensure that retirement benefits are divided fairly and in accordance with federal law.

As part of the ongoing effort to maintain the effectiveness of civil monetary penalties and enhance their deterrent impact, the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 mandates annual adjustments for inflation.

Qualified Domestic Relations Orders (QDROs) are a crucial aspect of family law and employee benefits law. These legal orders are used to divide retirement plan benefits between divorcing spouses, ensuring that the non-employee spouse (the "alternate payee") receives their fair share. At Schechter...

On National Employee Benefits Day, we take a moment to recognize the essential role employee benefits play in enhancing the lives of workers across the country. As we reflect on the evolving benefits landscape, it's clear that comprehensive benefit programs are more than just compensation—they're a powerful tool for fostering financial security, employee well-being, and business success.

Part 3: The Future of Employee Ownership in California ESOPs as a Path to Shared Prosperity As California shifts toward more equitable business models, employee ownership is emerging as a powerful tool for building wealth in local communities. With the right plan design and operational guidance...

Part 2: Designing Your ESOP: What Business Owners Need to Know ESOP Plan Design: One Size Doesn’t Fit All When it comes to setting up an ESOP, there’s no such thing as a cookie-cutter approach. Every company’s culture, financial situation, and long-term goals should shape the plan's design.

Part 1: Why California Is Poised for an ESOP Boom Employee Ownership on the Rise: What’s Driving the Interest? In recent years, employee stock ownership plans (ESOPs) have gained traction across the U.S. as an innovative solution for business succession planning — but in California, adoption has lagged behind other states. That may be about to change.

The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) released its updates and fact sheet for the fiscal year 2024. As a tax-qualified plan sponsor, there are implications and critical importance for ERISA compliance for plan fiduciaries and administrators...