SMACNA offers educational opportunities to trustees of our industry’s trust funds. These resources focus on the basic trust fund and fiduciary principles identified by the Department of Labor (DOL) as being the most needed, as well as on new developments in the law and trends in controlling plan costs.
Trustee Resources
Trustee Appointment
To the extent a party has the ability to appoint or remove a trustee of a benefit plan, that act makes the appointing party a fiduciary with respect to the plan as to that appointment. SMACNA provides guidance on how to ensure the fiduciary obligation is met in the appointment of trustees.
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You can be jointly liable for the action of the trust’s co-fiduciaries, so you need to know who they are and when they are acting as a fiduciary.
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A federal judge in New York ruled that using the “Segal Blend” interest assumption to calculate a withdrawing company’s multiemployer pension liability was a “mistake” and unsupported by the record.
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SMACNA provides guidance on how to ensure the fiduciary obligation is met in the appointment of trustees.
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The Department of Labor has issued a regulation (29 CFR §2509.75-8), which states that to the extent a party has the ability to appoint or remove a trustee of a benefit plan
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Can providing bagels and coffee to your trust fund employees at a morning staff meeting really be a prohibited transaction? It seems that some Department of Labor investigators think so.
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Held once every two years, the industry fund seminar provides guidance to chapter executives and industry fund trustees on proper administration and permissible uses of industry funds.
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In 2016, the United States Department of Labor issued updated regulations placing certain obligations on apprenticeship program sponsors to take affirmative action in relation to registered apprenticeship programs
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A federal judge in New York ruled that using the “Segal Blend” interest assumption to calculate a withdrawing company’s multiemployer pension liability was a “mistake” and unsupported by the record.
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In April, the Pension Benefit Guaranty Corporation issued guidance to assist multiemployer pension plans seeking to have the PBGC review their alternative plan rules for satisfying employer withdrawal liability. The
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It is sometimes in a trustee’s best interest to retain an attorney at the outset of an investigation by the Department of Labor (DOL) for possible violations of the Employee Retirement Income Security Act of 1974.
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It is sometimes in a trustee’s best interest to retain an attorney at the outset of an investigation by the Department of Labor (DOL) for possible violations of the Employee Retirement Income Security Act of 1974.
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Effective communication with plan participants is key to having a well-run benefit fund. Guidance on effective communication is abundant. In short, be clear, be concise, and be careful.
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ERISA trust funds are required by law to purchase a fidelity bond covering breaches of honesty by covered individuals. Fiduciary liability coverage on the other hand is not required by ERISA.
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ERISA trust funds are required by law to purchase a fidelity bond covering breaches of honesty by covered individuals. Fiduciary liability coverage on the other hand is not required by ERISA.
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This is part of a three-part series providing guidelines for Joint Apprenticeship Training Committees (JATCs) to follow when recruiting and selecting individuals into an apprenticeship program. For information on
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This post is second in a three-part series providing guidelines for Joint Apprenticeship Training Committees (JATCs) to follow when recruiting and selecting individuals into an apprenticeship program. For information on
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In 2016, the U.S. Department of Labor (DOL) let people know they will be investigating their health fund’s compliance with the mental health parity laws.
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Participants have gone missing. Are you doing enough to find them? If you are not asking that question of your fund, the U.S. Department of Labor (DOL) may soon be asking it for you.
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If your trust fund is the keeper of personal identity or sensitive information on participants and their beneficiaries, the answer is likely, yes.
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If your trust fund is the keeper of personal identity or sensitive information on participants and their beneficiaries, the answer is likely, yes.
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