Earlier this year, the Department of Labor (DOL) updated the prohibited transaction exemption for Qualified Professional Asset Managers, often referred to as the “QPAM exemption.” Included in the update is a new requirement...more
SECURE 2.0 significantly changed the legal and administrative compliance landscape for retirement plans. Foley recently hosted a webinar where Leigh Riley, Kathleen Bardunias, and Kelsey O’Gorman discussed key provisions of...more
The SECURE 2.0 Act of 2022 (SECURE 2.0) significantly changes the legal and administrative compliance landscape for U.S. retirement plans. Foley & Lardner LLP is authoring a series of articles that take a “deep dive” into key...more
9/21/2023
/ 403(b) Plans ,
Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Contributions ,
Employer Contributions ,
EPCRS ,
Internal Revenue Code (IRC) ,
IRS ,
Part-Time Employees ,
Retirement Plan ,
Roth IRA ,
SECURE Act ,
Self-Correction Programs
While most of the country was gearing up for the U.S. Open, retirement plan sponsors and service providers collectively celebrated a big win on August 25 when the IRS delayed the new Roth catch-up rule until January 1, 2026. ...more
To help employers properly administer their 401(k) plans, in 2022, Foley & Lardner LLP is authoring a series of monthly “401(k) Compliance Check” newsletters. This article discusses some of the policies that are important for...more
7/20/2022
/ 401k ,
Audits ,
Compensation ,
Compliance ,
Cybersecurity ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Internal Revenue Code (IRC) ,
Investment Policy Statements ,
Loans ,
New Guidance ,
QDRO
A recent Delaware Chancery court opinion serves as a reminder to companies and their boards that shareholder-approved equity compensation plans are contracts, and failing to follow the terms of such contract could result in...more
The American Rescue Plan Act of 2021 (the “ARPA”), which President Biden is expected to sign this week, includes a handful of provisions affecting employee benefit plans and publicly-traded companies’ tax deductions for...more
On June 19, 2020, the IRS issued Notice 2020-50 (the “Notice”), which provides additional guidance regarding coronavirus distributions and loans from qualified retirement plans under the Coronavirus Aid, Relief, and Economic...more
Do you provide terminated employees with information regarding their employee benefits upon termination? If not, consider doing so now—especially if you typically provide a lot of your benefits information on your intranet...more
You probably already know that employers are required to honor qualified domestic relations orders (commonly referred to as “QDROs”) regarding the division of qualified retirement plan benefits (such as 401(k) balances) when...more
The “Bottom Line” -
Learn the new rules for who is a “covered employee” and keep track of these individuals because “once a covered employee, always a covered employee”
Evaluate compensation arrangements and contracts...more
1/8/2018
/ Compensation & Benefits ,
Corporate Taxes ,
Covered Employees ,
Employee Benefits ,
Executive Compensation ,
Grandfathered Status ,
Income Taxes ,
Publicly-Traded Companies ,
Section 162(m) ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Tax Deductions ,
Tax Rates ,
Tax Reform
On September 21, 2017, the U.S. Securities and Exchange Commission (SEC) released several items that provide additional guidance on the CEO Pay Ratio Rule (the “Rule”):
(1) SEC interpretive guidance;
(2) Revised pay...more
9/26/2017
/ Disclosure Requirements ,
Enforcement Actions ,
Executive Compensation ,
Independent Contractors ,
Interpretive Opinions ,
Median Employee ,
New Guidance ,
Pay Ratio ,
Publicly-Traded Companies ,
Regulation S-K ,
Securities and Exchange Commission (SEC) ,
Statistical Sampling
The staff of the Securities and Exchange Commission’s Division of Corporation Finance (the staff) issued new compliance and disclosure interpretations (C&DIs) on October 18, 2016, providing guidance to companies preparing to...more
11/8/2016
/ C&DIs ,
CACM ,
Disclosure Requirements ,
Dodd-Frank ,
Executive Compensation ,
Furloughs ,
Independent Contractors ,
Median Employee ,
Pay Ratio ,
Publicly-Traded Companies ,
Regulation S-K ,
Securities and Exchange Commission (SEC)