Participant contributions to 401(k) plans and other ERISA plans

Article Abstract:

The assets of any employee benefits plan, including a 401(k) plan, are, unless subject to an exception, to be held in trust. Exceptions to ERISA's trust requirement are to be found in three sections of the law. In the spr of 1995, the Department of Labor started enforcement activity because sponsors of some 401(k) plans failed to use the trust or other approved funding vehicle. This enforcement activity continues, and employers should review their policy on holding plan assets of employee benefit plans in trust.

Salary reduction savings plans, 401K plans, Trusts and trustees, Trustees, Trusts (Law)

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Standards of lawyer conduct in employee benefits practice

Article Abstract:

Attorneys who practice law dealing with employee benefits and related federal tax must abide by IRS preparer standards and state laws regarding attorney conduct. Such attorneys are subject to IRS penalties for disreputable conduct. They are also subject to state malpractice standards even though ERISA generally preempts state law.

Employee benefits, Legal ethics

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