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
For most employers, January kicks off a brand new 401(k) plan year! Now that all of the year-end plan amendments, participant notices, and new deferral elections are behind you, this is a great time to take a step back and...more
The American Rescue Plan Act of 2021 (the “ARPA”), which President Biden is expected to sign, provides additional funding relief to sponsors of single-employer defined benefit pension plans.
Valuation of Plan Benefit...more
We get this question a lot from our clients. Sometimes, the answer is a clear “yes”, and, in other cases, the answer is a “maybe.” Below are three typical Q&As that highlight the most common scenarios where this question...more
If you maintain a qualified retirement plan, such as a 401(k) or pension plan, that covers more than 100 employees, you are likely in the midst of your annual plan audit. During this process, your auditor might ask for a copy...more
In December 2016, the Department of Labor issued final regulations under ERISA governing claims procedures for group disability plans, which will become effective January 1, 2018. Generally, these regulations were drafted to...more
3/8/2017
/ Benefit Plan Sponsors ,
Claim Procedures ,
Denial of Benefits ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Impartiality ,
Long Term Disability Insurance ,
Rescission
Earlier this year, the IRS published updated guidance on the application of the Supreme Court’s decision in United States v. Windsor to qualified retirement plans. In Windsor, the Court held that the Defense of Marriage Act’s...more
If you sponsor a self-insured group health plan, then November includes two important deadlines: (1) you must obtain a health plan identifier for your plan, and (2) you must report the number of participants for whom a...more