Frederic Dorwart, Lawyers PLLC

On Thursday March 13th, Judge Frizzell entered the final dismissal of the “Pinnacle Plan” foster care class action lawsuit that, after 13 years of federal court oversight, transformed Oklahoma’s foster care program from one of the nation’s worst, to a model. Fred Dorwart and Paul DeMuro were Co-Class Counsel on the case and they were present during Thursday’s hearing that ended with the crowd bursting into applause when Judge Frizzell banged his gavel to dismiss the case!

Thank you to Judge Frizzell, Frederic Dorwart, Lawyers PLLC, Paul DeMuro and Attorney General Gentner Drummond for pushing forward in this class action suit to come to a resolution. The Court approved the consent decree that will help hundreds of Oklahomans move off the competency waitlist and into mental health services they are entitled to so their criminal cases can proceed. The last step to enter the decree requires the Legislature to pass a joint resolution approving the settlement. https://lnkd.in/dGXDDXtt

On January 14, 2025, the Employee Benefits Security Administration (“EBSA”) of the US Labor Department (“DOL”) issued a final rule which for the first time allows employers to correct certain fiduciary violations involving their qualified retirement plans, including 401(k) plans, under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), by taking self-corrective action.?EBSA has long had a voluntary correction program (known as the Voluntary Fiduciary Correction Program, or VFCP) but to take advantage of the program, employers are required to submit to a formal application process and subsequently subject themselves to EBSA review.?Under the new rule, EBSA has put a so-called “self-correction component”, or “SCC”, in place which allows employers to self-correct delinquent transmittal of participant contributions and participant loan repayments, which are transactions most frequently corrected under VFCP, as well as to correct certain participant loan failures corrected under the Internal Revenue Service Employee Plans Compliance Resolution System.?Under the new SCC, instead of filing a VFCP application with EBSA, eligible self-correctors will submit a SCC Notice through the EBSA web portal.?After filing the SCC notice, self-correctors will receive an email acknowledgement. This new rule will become effective March 17, 2025.?According to EBSA, the new rule also contains amendments to simplify and expand the main VFCP, including: (i) clarifying existing transactions eligible for correction under VFCP; (ii) expanding the scope of certain transactions currently eligible for correction; and (iii) simplifying certain administrative or procedural requirements for participation in VFCP.?EBSA is publishing final amendments to Prohibited Transaction Exemption (“PTE”) 2002-51 to reflect these improvements.?This rulemaking is part of a congressional push to simplify administrative and procedural requirements for plan sponsors who are navigating through the requirements to qualify for and use VFCP. For additional information, details about the SCC, and other improvements to VFCP in the new rule, please contact the FDLaw attorney with whom you normally work or one of the firm’s ERISA attorneys: Alex Roldán – (214) 831-0630, [email protected] Felicia Finston – (972) 638-8394, [email protected]

Help us congratulate Frederic Dorwart, recipient of The University of Tulsa's 2024 J. Paschal Twyman Award! Recipients are honored for their contributions to the university that go far and above the call of duty. ???? Dorwart served his country in the US Navy and attended Harvard Law School before returning to his native Oklahoma as an attorney, where he has practiced law and served our community since 1966. Dorwart founded Frederic Dorwart, Lawyers PLLC, 30 years ago and serves as president and trustee of the visionary George Kaiser Family Foundation. Here's how Dorwart has exemplified leadership and commitment to the university: https://bit.ly/3ZV6QMP #UTulsa #Tusla #leadership #lawyer

FDLaw celebrated its 30th anniversary last week! We thank the wonderful clients who have entrusted us with their legal needs!