PODCAST: Williams Mullen's Benefits Companion - New IRS Guidance on SECURE 2.0 Act Student Loan Employer Contributions
What Can A Tax Attorney Do For You? A Podcast With Janathan Allen
PODCAST: Williams Mullen's Benefits Companion - Auto-Portability: A New Way to Keep Retirement Savings Growing
#WorkforceWednesday: SECURE Act 2.0 - What 401(k) Plan Sponsors Need to Know - Employment Law This Week®
PODCAST: Williams Mullen's Benefits Companion - Plan Administrators’ 2022 Year-End Checklist
PODCAST: Williams Mullen's Benefits Companion - Court Decisions Impacting Plan Sponsors and Fiduciaries
PODCAST: Williams Mullen's Benefits Companion - Helping Employers Address the Gender Gap in Retirement Savings
PODCAST: Williams Mullen's Benefits Companion - Millennials, Boomers and Retirement Planning
The Form 5500: What All Employers and Plan Administrators Need to Know and How to Avoid Costly Fines
PODCAST: Williams Mullen's Benefits Companion - Cryptocurrency in 401(k) Plans
PODCAST: Williams Mullen's Benefits Companion - What Constitutes Plan Assets Under ERISA?
2022 Resolutions: What Healthcare Practices Need To Tackle In the New Year
PODCAST: Williams Mullen's Benefits Companion - Cautionary Tales for Preapproved Plan Documents
DOL Clarifies Timing of Lifetime Income Disclosures in Benefit Statements
PODCAST: Williams Mullen's Benefits Companion - Back to the Future: SECURE Act and SECURE Act 2.0
PODCAST: Williams Mullen's Benefits Companion - Payroll Integration for Plan Sponsors
PODCAST: Williams Mullen's Benefits Companion - Plan Administrators’ 2020 Year-End Checklist
PODCAST: Williams Mullen's Benefits Companion - Cybersecurity Considerations for Retirement Plan Sponsors
Three Timely Benefits Items Everyone Should Know
PODCAST: Williams Mullen's Benefits Companion - COVID-19 Edition - Employee Benefits Considerations When Conducting Furloughs and Layoffs
...Emergency Savings Accounts and Distributions - Brief overview. As reported previously, SECURE 2.0 permits but does not require plans to add emergency savings accounts beginning with the 2024 plan year, but only...more
On December 29, 2022, as part of the Consolidated Appropriations Act of 2023, President Biden signed into law the SECURE 2.0 Act of 2022 (“SECURE 2.0”). SECURE 2.0 makes many significant changes to the employer sponsored...more
On December 29, 2022, President Biden signed into law the Consolidated Appropriations Act, 2023. This legislation includes the highly anticipated SECURE 2.0 Act, which expands and supplements the original SECURE Act of 2019....more
The IRS recently issued final regulations to standardize the administration of hardship distributions. Plans that permit hardship distributions must implement operational changes for hardship distributions by January 1, 2020,...more
Not all 401(K) and other qualified plans allow hardship withdrawals, but if your plan does allow hardship withdrawals, make sure it is compliant with the new rules finalized in September. All of the changes are optional for...more
The IRS recently released final regulations making a number of changes to the rules applicable to hardship distributions from 401(k) and 403(b) plans. Concluding our three-part series on the final regulations, this blog entry...more
The Internal Revenue Service (IRS) has finalized revisions to the regulations governing hardship distributions under 401(k) and 403(b) plans. The final regulations make some subtle but important changes to the regulations...more
The tax bill enacted late last year (Public Law No. 115-97) and the budget bill enacted earlier this month (the Bipartisan Budget Act of 2018) included a handful of changes to the rules applicable to tax-qualified retirement...more
On February 9, 2018, Congress passed and the President signed – the Bipartisan Budget Act of 2018, H.R.1892 (“BBA”). In addition to funding the federal government through March 23, 2018, the BBA contains a number of tax...more
When tax reform proposals were floating around in the fall of 2017, several early proposals to the Tax Cuts and Jobs Act (the “Act”) included changes to the hardship distribution rules for qualified retirement plans. However,...more
On Friday, February 9, 2018, Congress passed, and the President signed, the Bipartisan Budget Act of 2018 (the “Budget Act”). The Budget Act contains a number of provisions that affect qualified retirement plans. Plan...more
The Bipartisan Budget Act of 2018 (“Act”) was signed into law on February 9, 2018. It includes certain provisions impacting employee benefits, 401(k) plans in particular. The following is a brief description of some notable...more
Consider two fact situations. In one, relatively modest damage occurs to a 401(k) plan participant's principal residence attributable to a hurricane in a federally declared disaster area. In the other situation, lightning...more
The Tax Cuts and Jobs Act makes some notable, though targeted, changes to the employee benefits landscape. We summarize some of the more significant changes in the Question and Answers set out below....more
The Tax Cuts and Jobs Act made significant changes to the tax code and will have a significant impact on businesses and individual taxpayers. However, although initial proposals included potentially significant changes to...more
As 2017 comes to an end, we are pleased to present you with our traditional End of Year Plan Sponsor “To Do” Lists. This year, we are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered...more
On September 29, 2017, the Disaster Tax Relief and Airport and Airway Extension Act of 2017 (the “Act”)1 was signed into law to provide aid to victims who are recovering from the recent hurricanes in August and September...more
The IRS announced (through the two announcements 2017-11 and 2017-13) relief for victims of Hurricane Harvey, which struck Texas and surrounding areas in August 2017, and victims of Hurricane Irma, which struck Florida and...more
Hurricane Irma made landfall in Florida on September 10, 2017. The damage caused by Irma will be well into the billions of dollars. In the wake of the storm, the IRS announced several relief programs that are intended to...more
While Hurricanes Harvey and Irma have subsided, recovery efforts have just begun. In an effort to help bring timely assistance to beleaguered residents of areas hard hit by the storms, the Internal Revenue Service (IRS) has...more
On September 12, 2017, the Internal Revenue Service (IRS) issued Announcement 2017-13, which provides guidance on the ability of qualified plans to provide plan loans and hardship distributions to people in Florida affected...more
Announcement 2017-11 (Announcement) provides that a tax-qualified employer retirement plan may treat a distribution to a current or former employee covered by the Announcement as on account of hardship or an unforeseeable...more
Following Hurricane Harvey and its resulting destruction, many employees are in need of financial assistance and/or early access to retirement funds. We will highlight how employers can make direct financial assistance...more
Last week the IRS announced that 401(k) plans and certain similar employer-sponsored retirement plans can make loans and hardship distributions to help victims of Hurricane Harvey....more
In response to Hurricane Harvey and the catastrophic flooding in Texas, the IRS and U.S. Department of Labor have announced relief for those individuals and businesses in the affected disaster areas. The "covered disaster...more