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What is an Automatic Contribution Arrangement?

Masuda Funai Eifert & Mitchell Ltd
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USA
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October 6 2009

An Automatic Contribution Arrangement ("ACA") is a feature in a 401(k) plan that that allows an employer to automatically "enroll" an eligible employee in the plan unless the employee affirmatively opts out of the plan

Are there limits on qualified plan investments?

Masuda Funai Eifert & Mitchell Ltd
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USA
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September 22 2009

Although there is no list of approved investments for retirement plans, there are special rules contained in ERISA that apply to retirement plan investments

Can an employee borrow from a qualified plan?

Masuda Funai Eifert & Mitchell Ltd
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USA
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September 8 2009

A qualified plan may, but is not required to provide for loans

IRS provides employers 7 steps to making a hardship distribution

Masuda Funai Eifert & Mitchell Ltd
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USA
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August 24 2009

In its summer edition of Retirement News for Employers, the Internal Revenue Service ("IRS") provided seven recommended steps that plan sponsors should follow before making a hardship distribution from a qualified retirement plan (401(k

Hitachi America benefits manager pleads guilty to fraud charges

Masuda Funai Eifert & Mitchell Ltd
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USA
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May 4 2009

Recently, the Acting U.S. Attorney for the Southern District of New York announced that the senior manager of corporate benefits for Hitachi America Ltd. (“Hitachi”) pleaded guilty to defrauding the Hitachi Group Health and Welfare Plan (the “Plan”) of approximately $6.1 million

Department of Labor sues former NFL player

Masuda Funai Eifert & Mitchell Ltd
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USA
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April 6 2009

On March 25, 2009, the Department of Labor ("DOL") announced that it had filed a lawsuit in federal district court in Newport News, Virginia alleging that former NFL player Michael Vick ("Vick") and others violated ERISA by making series of prohibited transfers from a defined benefit pension plan sponsored by one of his companies

Employers must send out COBRA notices by April 18, 2009

Masuda Funai Eifert & Mitchell Ltd
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USA
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April 6 2009

On February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act ("ARRA"

DOL provides model COBRA notices related to premium subsidy

Masuda Funai Eifert & Mitchell Ltd
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USA
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March 23 2009

On February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act (the "ARRA"

DOL sponsors COBRA premium subsidy compliance webcast

Masuda Funai Eifert & Mitchell Ltd
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USA
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March 23 2009

On Tuesday, March 24, 2009 at 11:30 a.m. Eastern Time, the Department of Labor will be joined by the U.S. Department of the Treasury and the Internal Revenue Service to discuss the new COBRA provisions and provide assistance in complying with the new requirements, including the model notices and the tax credit

Employers with less than 20 employees must comply with COBRA subsidy

Masuda Funai Eifert & Mitchell Ltd
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USA
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March 9 2009

On February 17th, President Obama signed into law the American Recovery and Reinvestment Act of 2009 ("the Act"