Trend Report

Charitable Giving for Companies

Although tax reform has previously been antonymous with simplification, the Tax Cuts and Jobs Act of 2018 did actually simplify things. The simplifications came in the form of limiting or eliminating certain deductions and increasing the standard deduction; however, these changes did make it more difficult to itemize. How does this impact a company or a corporation looking to partake in philanthropic endeavors? The good news is there were no major changes via the new tax law for charitable contributions; however, some of the limitation adjustments have made donors develop a more informed giving process. In this post, we discuss the benefits and various strategies organizations can leverage when engaging charities and non-profit organizations.

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What Type of Fiduciary Should Your Retirement Plan Have?

The retirement plan industry has a problem – jargon. While speaking the language is second nature to those who live every day in retirement plan consulting, it’s important that we act as ambassadors and translate the convoluted acronyms and industry slang, so our partners and retirement committee members have the knowledge they need to manage their plan with confidence.

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Be Careful What You Tell Employees About Their Benefits

This content was originally published  by Theodore P. Stein, Esq.

On March 13, 2018, the U.S. District Court in Greenbelt, Maryland, issued a Memorandum Opinion in one of my cases granting summary judgment to my client, a defendant, and dismissing a claim that my client had breached its fiduciary duty under ERISA, the federal statute governing employee benefit plans.  The case is Damiano v. Institute for In Vitro Sciences, et al.  Although the Court ruled in favor of the defendant, the decision should be a wake-up call to employers about the danger of misrepresenting the benefits under a welfare or pension plan—even if the misrepresentation is accidental.

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