During her employment, Ms. Rizo participated in two company sponsored retirement plans subject to ERISA. Both plans’ summary plan descriptions provided very specific instructions as to how a participant designates a beneficiary. Ruiz v. Publix Super Markets
Over the past several years, a technique for financing new business ventures using funds from an IRA or qualified plan has gained increasing popularity. The IRS has cautioned against the pitfalls of using a plan or IRA in this fashion.
Because of changes in philosophies regarding factors contributing to long-term shareholder value, and an overly strict interpretation of past guidance, DOL withdrew some of that guidance and restated its position on these issues.