Since 1996, the US Department of Labor granted more than 1,200 individual exemptions from the ERISA prohibited transaction rules.
One of the distinctive features of ERISA is its prohibition, in ERISA section 406 as a...more
1/5/2022
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Exemptions ,
Fiduciary Duty ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
Prohibited Transactions ,
Reinsurance ,
Related Parties
On March 6, 2019, the Internal Revenue Service (IRS) issued Notice 2019-18 (Notice), announcing that it is retracting its previous position that prohibited pension plan sponsors from offering lump-sum cashouts to retirees who...more
In an internal memorandum to its examination agents dated February 23, 2017, the Internal Revenue Service (IRS) issued guidance regarding the types of documentation that agents should request in verifying hardship withdrawals...more
In 2015, the Internal Revenue Service (IRS) announced changes to its existing determination letter program, namely that the staggered remedial amendment cycle for individually designed retirement plans would end effective...more
The Equal Employment Opportunity Commission (EEOC) has issued proposed regulations under the Americans with Disabilities Act (ADA) regarding employer-provided wellness programs that were published in the Federal Register on...more
The practice of offering lump-sum distributions has become increasingly popular among defined benefit plan sponsors looking to decrease volatility or other defined benefit plan risks. In some situations, plan sponsors offer...more