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Proactive Steps Retirement Plan Sponsors Should Take

Retirement plan sponsors have a lot of headaches and liability because of their role as plan fiduciaries. They can sit back and do nothing, thereby increasing their potential liability. They can also be proactive and take...more

Healthcare Reform in the U.S. Territories; Prepayment of Taxes for Puerto Rico Retirement Plans

The summer of 2014 has brought further guidance for health plan coverage in the U.S. territories and for retirement plan coverage in Puerto Rico. Issuers and employer sponsors of Puerto Rico group health plans and employer...more

Same-Sex Spouses and 401(k) and Pension Plans - Does Your Plan Need to be Amended by December 31, 2014?

Same-Sex Spouses are Spouses for Qualified Plan Purposes - On July 26, 2013, in United States v. Windsor, the United States Supreme Court held that the prohibition against recognizing a same-sex spouse as a spouse for...more

IRS Amends Revenue Ruling 81-100 to Permit Participation in Group Trusts by Puerto Rico Plans and Insurance Company Separate...

The Internal Revenue Service (the “IRS”) issued Revenue Ruling 2014-24 (the “Ruling”). The Ruling amends Revenue Ruling 81-100, the ruling that established the requirements applicable to a tax-qualified group trust. The...more

IRS Finalizes Guidance on Rev. Rul. 81-100 Group Trusts, and Insurance Company Separate Accounts

In Rev. Rul. 2014-24, scheduled for publication on September 8, 2014, the Internal Revenue Service (the Service) substantially completed its pending guidance on Rev. Rul. 81-100 group trusts by permanently authorizing the...more

If I Had a Hammer – A Creative Method for Repatriating Offshore Corporate Profits

In this era of corporate inversions, there seems to be a lot of mud-slinging going around. Congress and the current Presidential administration would like to label large multi-national corporations as traitors. Somewhere...more

You Might Have a Problem With Your Retirement Plan When…

There are so many situations when you know you have a problem like when you forget to shut off the stove before you left home or when your lock your keys in the car with the engine running or you forget to pick your child up...more

An Appreciation for Hedging Your Bets on Deferred Compensation

Under Section 457A of the U.S. Internal Revenue Code of 1986 (the “Code”), certain offshore and other entities are limited in their ability to provide tax-effective deferred compensation to providers of services to those...more

The Small Things that Create the Biggest Problems for 401(k) Plan Sponsors

“For Want of a Nail” is a proverbial rhyme that shows that the smallest of action can have huge consequences later down the line, just like a snowball effect “For want of a nail the shoe was lost. For want of a shoe the horse...more

Business News Digest – August 2014

In this issue: - Draft Forms Released for the Affordable Care Act's Health Coverage Reporting Requirements - FINRA Targets Broker-Dealer Order Routing and Execution Quality of Customer Orders - Potential...more

Implementing Flexible Access To Pension Savings

With a flurry of reading material and a hailstorm of new acronyms, the draft Taxation of Pensions Bill has been published for consultation. There’s a very short deadline for comments, so it’s important to get to grips with...more

Accepting Rollover Contributions Now Easier - and Less Risky - For Retirement Plans

The administrative burden of determining the validity of rollover contributions to qualified retirement plans, and the associated risk of jeopardizing the plan’s tax-qualified status, traditionally has been a significant...more

Financial Service Company’s Nonqualified Plan Found to be an ERISA Pension Plan

In Tolbert v. RBC Capital Markets (July 14, 2014), the U.S. Court of Appeals for the Fifth Circuit held that a deferred incentive compensation plan maintained by a financial services company for certain employees was an...more

August and September 2014 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more

IRS Issues Final Regulations On Longevity Annuities

With the goal of providing retirees with more options to manage their retirement income, the IRS issued final regulations on “qualified longevity annuity contracts” (QLACs). A QLAC is a type of deferred annuity that commences...more

Mistakes that 401(k) Plan Sponsors Should Avoid, But Do Anyway

The Surgeon General’s report on smoking was released almost 50 years ago and people still smoke cigarettes. We know the effects of cholesterol, heart disease, and the calorie count at many fast food restaurants, yet their...more

Five New IRS Private Letter Rulings Confirm IRS’s Position Allowing Retiree Cashouts

We reported in 2012 on two private letter rulings (“PLRs”) issued by the IRS (PLR 201228045 and PLR 201228051) blessing certain retiree cashout programs. A retiree cashout program is a de-risking strategy used by defined...more

Monthly Benefits Update - July 2014

Two federal appeals courts issued contradictory rulings on the validity of subsidies for the purchase of health insurance under the federal marketplace established pursuant to the Affordable Care Act (ACA). On July 22, a...more

Winds Of Change Sweeping Through The Employee Share Scheme Landscape

There is building momentum for the Federal Government to change laws which currently apply to employees share schemes to counter the problems arising from previous changes made in 2009, and as a result, to increase the level...more

Employee Benefits Developments - July 2014

In May 2014, the Departments of Labor (DOL), Health and Human Services (HHS), and Treasury issued Frequently Asked Questions (FAQs) Part XIX, addressing, among other subjects, the following: The newly revised DOL model...more

Benesch Perspectives - July 2014 Newsletter

In this issue: - Not-for-Profit Spotlight - Giving to Religion Trending Downward for a Decade - What You Can Learn from Giving 2014 - Is the Front Door Closing on the Parsonage...more

Government Publishes Response To Consultation – Freedom And Choice In Pensions

The government has published its response to the ‘Freedom and choice in pensions’ consultation. Individuals aged 55 or over will be able to access their entire DC pension flexibly. This will be underpinned by the ‘guidance...more

Equity Compensation Alphabet Soup – ISO, NSO, RSA, RSU and more

Startups and public companies alike often use equity to help attract, retain and incentivize talented employees and other service providers. The different forms of awards have proliferated in the past several years, though,...more

How Plan Sponsors Can “Reboot” and Improve Their 401(k) Plan

In movies and television, a reboot is a mechanism to discard all previous continuity in a series and start anew with fresh ideas. So all established fictive history is irrelevant to the new storyline, and the series is...more

Perspectives - Fall 2012 Volume 3, Edition 2: An Executive Compensation, Benefits & Human Resources Law Update

In this Issue: - Don’t “Moench”ion It: Supreme Court Rejects Presumption of Prudence for ESOP Fiduciaries - Avoiding Claims of Excessive Fund Fees - Risk of ERISA Class Actions Can Be Reduced by Use of...more

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