If you employ part-time workers and/or engage independent contractors, sit up and take note: 2024 will bring significant changes to how you manage your workforce. The US Department of Labor’s revised Independent Contractor...more
3/5/2024
/ 401k ,
403(b) Plans ,
Affordable Care Act ,
Continuing Legal Education ,
Department of Labor (DOL) ,
Employee Benefits ,
Employer Liability Issues ,
Health Insurance ,
Hiring & Firing ,
Independent Contractors ,
Misclassification ,
New Regulations ,
Part-Time Employees ,
Retirement Plan ,
Risk Mitigation ,
SECURE Act ,
Wage and Hour ,
Webinars
In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces.
Under the SECURE...more
1/25/2024
/ 401k ,
Billable Hours ,
Employee Benefits ,
Employees ,
Employer Liability Issues ,
Full-Time Employees ,
IRS ,
Part-Time Employees ,
Proposed Regulation ,
Retirement Plan ,
SECURE Act
In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces.
Under the SECURE...more
1/25/2024
/ 401k ,
403(b) Plans ,
Employee Benefits ,
Employees ,
Employer Contributions ,
Full-Time Employees ,
IRS ,
Non-Discrimination Rules ,
Part-Time Employees ,
Retirement ,
Retirement Plan ,
SECURE Act
In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces.
Under the SECURE...more
1/25/2024
/ 401k ,
403(b) Plans ,
Employee Benefits ,
Employees ,
Employer Liability Issues ,
Full-Time Employees ,
IRS ,
Part-Time Employees ,
Proposed Regulation ,
Retirement Plan ,
SECURE Act
In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces.
Following the...more
1/25/2024
/ 401k ,
Billable Hours ,
Employee Benefits ,
Employees ,
Employer Liability Issues ,
Full-Time Employees ,
IRS ,
Part-Time Employees ,
Proposed Regulation ,
Retirement Plan ,
SECURE Act
In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces.
Under the SECURE...more
In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces.
Under the SECURE...more
1/24/2024
/ 401k ,
403(b) Plans ,
Employee Benefits ,
Employee Monitoring ,
Employees ,
Employer Liability Issues ,
Former Employee ,
Labor Reform ,
Labor Regulations ,
New Rules ,
Part-Time Employees ,
Retirement Plan ,
SECURE Act
In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces.
Together, the...more
12/29/2023
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Compensation & Benefits ,
Employee Benefits ,
Employees ,
Employer Liability Issues ,
IRS ,
New Legislation ,
Part-Time Employees ,
Regulatory Reform ,
Required Minimum Distributions ,
Retirement Plan ,
SECURE Act
Together, the SECURE Act and the SECURE 2.0 Act feature numerous changes to retirement plan rules that aim to help employees achieve retirement security by ensuring that more workers have access to retirement plans, can save...more
12/20/2023
/ 401k ,
403(b) Plans ,
Compensation & Benefits ,
Corporate Counsel ,
Employee Benefits ,
Employees ,
IRS ,
New Guidance ,
Part-Time Employees ,
Retirement Plan ,
SECURE Act
The Internal Revenue Service (IRS) recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2024. Certain health and welfare plan limits...more
11/2/2023
/ 401k ,
Defined Benefit Plans ,
Defined Contribution Plans ,
Employee Benefits ,
Health and Welfare Plans ,
IRS ,
Popular ,
Qualified Benefit Plans ,
Qualified Retirement Plans ,
Retirement ,
Retirement Plan
Yahoo! Let’s celebrate—the IRS gave us more time! On August 25, 2023, the Internal Revenue Service announced an administrative transition period that effectively delays the deadline for adding Roth catch-up contributions...more
In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond. Yahoo! Let’s celebrate—the IRS gave us more time! Earlier today, the Internal...more
In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond.
Nearly all employers offer eligible participants the opportunity to make...more
In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond.
In an open letter to Secretary of the Treasury Janet Yellen and IRS Commissioner...more
In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond.
Section 603 of the SECURE 2.0 Act requires catch-up contributions made by...more
In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond.
The SECURE 2.0 Act requires participants who earned more than $145,000 in FICA...more
In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond.
The SECURE 2.0 Act indicates that any plan that permits catch-up contributions...more
In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond.
The SECURE 2.0 Act indicates that any plan that permits catch-up contributions...more
In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond.
The SECURE 2.0 Act indicates that any plan that permits catch-up contributions...more
Employers can offer participants who are age 50 or older the opportunity to make additional catch-up contributions to their retirement plans. Doing so provides a great way for older workers to save more money—up to an extra...more
Join partners from McDermott’s Employee Benefits team as they discuss the impact of the recently passed SECURE 2.0 Act of 2022. With over 90 changes to retirement plans and individual retirement accounts (IRAs), this webinar...more
1/13/2023
/ 401k ,
403(b) Plans ,
Automatic Enrollment ,
Consolidated Appropriations Act (CAA) ,
Continuing Legal Education ,
Defined Benefit Plans ,
Early Retirement Distributions ,
Employee Benefits ,
Employee Contributions ,
Employer Contributions ,
Hardship Distributions ,
Health and Welfare Plans ,
Individual Retirement Account (IRA) ,
Required Minimum Distributions ,
Retirement ,
Retirement Funds ,
Retirement Plan ,
Retirement Plan Providers ,
Roth IRA ,
SECURE Act ,
Student Loan Benefit Programs ,
Webinars
The US Congress recently passed the SECURE 2.0 Act of 2022 (SECURE 2.0). Building on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 (SECURE 1.0), SECURE 2.0 strives to expand retirement plan...more
1/11/2023
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Compensation & Benefits ,
Employee Benefits ,
Employees ,
Employer Contributions ,
Employer Liability Issues ,
New Legislation ,
Part-Time Employees ,
Regulatory Reform ,
Required Minimum Distributions ,
Retirement Plan ,
SECURE Act
Cryptocurrencies and digital assets—such as bitcoin, ether and non-fungible tokens (NFTs)—have become some of the hottest investment products in recent years. The growing interest has inevitably led to retirement plan...more
4/1/2022
/ 401k ,
Cryptocurrency ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Individual Retirement Account (IRA) ,
Investment ,
Investment Adviser ,
IRS ,
Non-Fungible Tokens (NFTs) ,
Plan Participants ,
Retirement Plan
Over the past year, the regulatory backdrop around environmental, social and governance (ESG) investing has shifted. As McDermott Partner Brian J. Tiemann explains in these slides, the US Department of Labor (DOL) under the...more
The Internal Revenue Service (IRS) recently announced the cost-of-living adjustments to the applicable dollar limits for retirement plans for 2022. Most of the dollar limits currently in effect for 2021 will increase, with...more