Brian Tiemann
Subscribe to Brian Tiemann's PostsBrian J. Tiemann counsels public and private companies on a broad range of employee benefit matters, including matters related to pension plans, 401(k) plans and executive and incentive compensation. He advises plan fiduciaries with respect to their fiduciary duties, investment policies and alternative investments. He also advises multinational clients on global employee benefits matters, particularly with respect to global incentive compensation plans. Brian has extensive experience negotiating investment management agreements and service provider agreements. Read Brian Tiemann's full bio.
Right Around the Corner: Expanded IRS Determination Letter Program Opens in September
By Brian Tiemann, Sarah L. Engle and McDermott Will & Emery on Aug 22, 2019
Posted In Employee Benefits, Retirement Plans
Beginning September 1, 2019, the IRS is expanding its retirement plan determination letter program to apply to certain individually designed statutory hybrid and merged plans. Employers sponsoring hybrid plans not previously reviewed by the IRS for required (or other) plan changes, and employers that have or will merge two or more of their plans together...
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Big ERISA Decisions on the Horizon—SCOTUS to Review Third ERISA Case this Term
By Brigid McCarthy, Brian Tiemann, J. Christian Nemeth and Richard J. Pearl on Jul 23, 2019
Posted In Benefit Controversies, Employee Benefits, Fiduciary and Investment Issues, Retirement Plans
The US Supreme Court recently agreed to review the Eighth Circuit’s decision in Thole v. US Bank, in which the Eighth Circuit held that participants in an overfunded defined benefit pension plan lack standing to sue for fiduciary breaches under ERISA. The Supreme Court’s decision in this case—the third ERISA case accepted by the court...
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It Could Happen to You: Tips for Acing a Benefit Plan Audit
By Brian Tiemann on Jul 2, 2019
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues, Health and Welfare Plans, Retirement Plans
Over the past several years, the IRS and DOL have significantly increased the number of benefit plans audits conducted each year. As a result, it is important for plan sponsors to understand the types of issues that often arise in connection with such audits. At the recent PSCA 2019 National Conference, Brian Tiemann explained what...
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Fridays With Benefits Webinar | Quick & Easy Recipes for Fixing 401(k) Plans
By Allison Wilkerson, Brian Tiemann and Sarah L. Engle on May 9, 2019
Posted In Employee Benefits, Retirement Plans
Join us Friday, May 17, as Allison Wilkerson, Brian Tiemann and Sarah Engle join host Judith Wethall to talk through the value of conducting a proactive self-audit of 401(k) plans. They will provide best practices designed to reduce the risk of costly government investigations. Attendees will come away prepared and confident in their position, and...
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Key Considerations with Alternative Investments for Pension Plans
By Brian Tiemann and Todd Solomon on Nov 15, 2018
Posted In Employee Benefits, Fiduciary and Investment Issues, Retirement Plans
Todd Solomon and Brian Tiemann presented on alternative investments for pension plans during the Association for Financial Professionals (AFP) Conference in Chicago. They discussed various rules benefit plan investors should consider, including the “look-through” rule and the “significant” investment rule. They also addressed common hedge fund structural and operational issues, and problems if a fund...
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IRS Announces 2019 Employee Benefit Plan Limits
By Brian Tiemann, Jeffrey Holdvogt and Jacob Mattinson on Nov 2, 2018
Posted In Employee Benefits, Health and Welfare Plans, Retirement Plans
Recently the Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2019. The table below compares the applicable dollar limits for certain employee benefit programs and the Social Security wage base for...
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Socially Responsible Investing – No Good Deed Goes Unpunished
By Brian Tiemann and Lisa Loesel on Oct 2, 2018
Posted In Employee Benefits, Retirement Plans
Socially responsible investing often sounds like an intriguing idea, but investing plan assets in a socially responsible manner is a notoriously tricky proposition. Earlier this year, the US Department of Labor issued additional guidance clarifying existing DOL guidance applicable to socially responsible investment of plan assets. However, the clarifications included in FAB 2018-01 may further...
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What the Demise of the DOL’s Fiduciary Rule Means for Plan Sponsors
By Brian Tiemann on May 29, 2018
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues, Retirement Plans
The Department of Labor’s fiduciary rule has recently been rendered unenforceable following a recent 5th Circuit Court of Appeals decision. In an article published by the Society for Human Resource Management, McDermott partner Brian Tiemann weighs in on what this means for plan sponsors. “As a result of the Fifth Circuit’s ruling, the suitability standard...
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DOL Less Likely to Appeal Fifth Circuit Ruling Vacating Expansion of Fiduciary Rule in Light of Recent SEC Guidance
By Brian Tiemann, J. Christian Nemeth and Samantha Souza on Apr 26, 2018
Posted In Benefit Controversies, Employee Benefits, Fiduciary and Investment Issues, Retirement Plans
In a recent 2-1 decision, the Fifth Court vacated the US Department of Labor’s controversial expansion of the ERISA fiduciary regulations (the New Fiduciary Rule). If the DOL does not seek a rehearing, the Fifth Circuit will enter a mandate revoking the New Fiduciary Rule nationwide. However, given recent fiduciary regulations proposed by the Securities...
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No Stone Unturned: Locating Missing Participants under the PBGC’s Expanded Program for Terminated Plans
By Brian Tiemann, Maggie McTigue and Sarah L. Engle on Apr 5, 2018
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues, Retirement Plans
The PBGC’s missing participants program, which previously applied only to single-employer defined benefit pension plans, has been expanded to defined contribution plans, multiemployer defined benefit plans and small professional service defined benefit plans that end on or after January 1, 2018. The revised program provides a helpful alternative for plan administrators of terminating defined contribution plans, and...
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