News & Analysis as of

401k Proposed Regulation

Morgan Lewis

IRS Proposes Long-Term, Part-Time Employee Regulations

Morgan Lewis on

On November 24, 2023, the Internal Revenue Service (IRS) proposed long-awaited regulations providing guidance on the required coverage of long-term, part-time employees (LTPTEs) under the Setting Every Community Up for...more

Troutman Pepper

Long-Term Part-Time Employee Eligibility Rules Now in Effect – Are You Ready?

Troutman Pepper on

The Setting Every Community Up for Retirement Enhancement Act (SECURE 1.0) requires plans to permit employees who work at least 500 hours but less than 1,000 hours in three consecutive 12-month periods to make elective...more

Fisher Phillips

Proposed Regulations Impact Retirement Plans for Certain Part-Time Employees: FAQs for Employers

Fisher Phillips on

Employers that sponsor 401(k) or 403(b) plans should be aware of eligibility and participation rules for their long-term, part-time (LTPT) employees. Historically, such plans could exclude employees who worked fewer than...more

McDermott Will & Emery

When It Comes to Vesting, IRS Says Once a Long-Term, Part-Time Employee, Always a Long-Term, Part-Time Employee

McDermott Will & Emery on

In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces. Under the SECURE...more

McDermott Will & Emery

New Rules Make Tracking Long-Term, Part-Time Employee Service a Full-Time Job

McDermott Will & Emery on

In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces. Under the SECURE...more

McDermott Will & Emery

IRS Confirms Same Hours-Counting Rules Still Add Up for Long-Term, Part-Time Employees

McDermott Will & Emery on

In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces. Following the...more

Davis Wright Tremaine LLP

New IRS Guidance on Long-Term, Part-Time Employee Retirement Plan Participation

New proposed regulations clarify how employers should implement retirement plan eligibility rules for long-term, part-time ("LTPT") employees. While some questions remain, the proposed regulations provide a number of welcome...more

Verrill

Proposed Regulations Regarding Long-Term, Part-Time Employees

Verrill on

Newly issued IRS Proposed Regulations regarding the special eligibility and vesting requirements for long-term, part-time employees provide guidance that 401(k) plan sponsors have been waiting for since these requirements...more

Proskauer - Employee Benefits & Executive...

IRS Proposes 401(k) Plan Regulations Implementing Long-Term Part-Time Employee Eligibility Requirements

The day after Thanksgiving, while many of us were fortunate enough to be reaching for leftover pie, the IRS released proposed regulations implementing the requirement that 401(k) plan sponsors permit “long-term part-time...more

Warner Norcross + Judd

IRS Publishes Long-Awaited Guidance on Long-Term, Part‑Time (LTPT) Employees

Warner Norcross + Judd on

On November 27, 2023, the IRS published proposed regulations clarifying the rules for long‑term, part-time employees (“LTPT employees”). The new rules — long-awaited since enactment of the SECURE Act in December 2019 —...more

Smith Gambrell Russell

Long-Term, Part-Time Employees IRS Proposed Regulations

Smith Gambrell Russell on

On November 24, 2023, the IRS released the long-awaited Proposed Regulations addressing the changes made by the SECURE Act and SECURE 2.0 related to long-term, part-time employees (“LTPTs”) in 401(k) plans. While the IRS...more

Proskauer - Employee Benefits & Executive...

TRICK-or-TREAT? DOL Proposes Spooky New “Retirement Security Rule” That Would Expand the Scope of Fiduciary “Investment Advice”

Responding to the “terrifying” reality that conflicted investment advice is costing retirement savers billions of dollars each year, on October 31, 2023, the Department of Labor (“DOL”) issued proposed rules representing its...more

Locke Lord LLP

IRS Proposes Regulations on Using Forfeitures in 401(K) Plans (and Other Qualified ‎Retirement Plans)‎

Locke Lord LLP on

The Department of the Treasury and Internal Revenue Service recently issued proposed regulations (the “Proposed Regulations”) relating to forfeitures in 401(k) plans and other tax-qualified retirement plans. Forfeitures...more

Jackson Lewis P.C.

IRS Gets Its Act Together For Forfeiture Rules

Jackson Lewis P.C. on

The February 24, 2023, issuance by the IRS of proposed regulations on the use of forfeitures in qualified retirement plans provides some welcome clarity, regulatory house cleaning, and relief for plan sponsors. With a...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - March 2023

The March Monthly Minute highlights new proposed deadlines for use of retirement plan forfeitures, unsuccessful efforts to overturn the final ESG rule, and ACA penalty increases for 2024. Sorry Not Sorry: Biden Vetoes...more

McDermott Will & Emery

Weekly IRS Roundup November 21 – November 25, 2022

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 21, 2022 – November 25, 2022...more

McDermott Will & Emery

Weekly IRS Roundup October 17 – October 21, 2022

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 17, 2022 – October 21, 2022...more

Verrill

Thoughts on the DOL’s Proposed ESG Regulation

Verrill on

The latest installment in the regulatory back-and-forth over the investment of ERISA-governed retirement plan assets based on environmental, social, and corporate governance (“ESG”) factors arrived on October 14, 2021 in the...more

Bradley Arant Boult Cummings LLP

DOL Proposed Regulations on Selecting Socially Responsible Plan Investments

The Department of Labor (DOL) has issued proposed regulations to revise the DOL's existing investment duties regulation regarding environmental, social, and governance (ESG) investments (sometimes referred to as “socially...more

Ballard Spahr LLP

DOL Proposes New Regulations on ESG Investments in Retirement Plans

Ballard Spahr LLP on

The United States Department of Labor (DOL) has issued a new set of proposed regulations providing guidance to plan fiduciaries about investing plan assets in investment vehicles that have environmental, social, and/or...more

Verrill

December 2019 Client Advisory

Verrill on

This Client Advisory highlights important developments in the law governing employee benefit plans and executive compensation over the past year. It offers insight into what these developments mean for employers and plan...more

McDermott Will & Emery

Frozen 2: IRS Expands Nondiscrimination Relief for Frozen Defined Benefit Pension Plans

McDermott Will & Emery on

The Internal Revenue Service (IRS) expanded the temporary relief for frozen defined benefit plans to include nondiscrimination requirements relating to benefits, rights and features, available for plan years beginning before...more

Proskauer - Employee Benefits & Executive...

Guide to DOL’s New “Notice and Access” Proposal for Electronic Delivery

On October 23, 2019, the Department of Labor published a new proposed regulation that paves the way for “notice and access” electronic delivery of certain disclosures for retirement plans. The proposal is welcome news for...more

Clark Hill PLC

IRS Adopts Final Regulations With Required and Optional Changes to Hardship Distribution Rules for 401(k) and 403(b) Plans

Clark Hill PLC on

Most Employers Need to Make Plan Document and Administrative Changes - In late 2018, the Internal Revenue Service (“IRS) proposed changes to the 401(k) regulations governing hardship distributions....more

Miller Canfield

Proposed Hardship Distribution Regulations Mean Changes for 401(k) and 403(b) Plan Sponsors

Miller Canfield on

Employer-sponsors of certain retirement plans have work to do prior to the end of 2019. Sponsors of Internal Revenue Code ("Code") section 401(k) and 403(b) plans must analyze their plan documents and associated...more

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