News & Analysis as of

403(b) Plans 401k

Spotlight on Alabama: New Law Extends Creditor Protections for Certain Retirement Account Assets in Alabama

by Baker Donelson on

On May 18, Governor Kay Ivey signed Act 2017-317 (the "Act") into law. The Act amends the provisions of the Alabama Uniform Trust Code, which provide creditor protection for various types of tax-preferred retirement accounts...more

Employee Benefits Developments - April 2017

by Hodgson Russ LLP on

Deadline to Provide QSEHRA Notice Suspended - IRS Notice 2017-20 - Citing the lack of published guidance, the Internal Revenue Service (IRS) suspended the employer advance notice requirement for qualified small...more

SEC Guidance Signals Approval for “Unbundled” Pricing for Mutual Funds

by Franczek Radelet P.C. on

A recent ruling by the Securities and Exchange Commission (SEC) indicates approval for mutual funds to be sold without servicing costs already built into the cost of the fund. In other words, the SEC ruling states that...more

Creditor Protection of Retirement Plan Assets

Assets in qualified retirement plans and individual accounts (IRAs) total more than $20 trillion and represent 34% of U.S. household assets.1 Clients and their advisers are rightfully concerned about insulating those assets...more

ERISA Newsletter - First Quarter 2017

by Proskauer Rose LLP on

After a brief hiatus, Proskauer's ERISA Newsletter is back with a brand new look. We hope you like it and find it is easier to navigate. In addition to implementing our new format, we have moved to a quarterly publication...more

IRS Announces Amendment Period for 403(b) Plans, Proposes to Allow Forfeitures to Fund QNECS and QMACs

by Williams Mullen on

The Internal Revenue Service recently issued a long-awaited Revenue Procedure regarding compliance for 403(b) plans and also offered flexibility to employers to fund employer contributions to their 401(k) plans with...more

IRS Will Now Permit DC Plan Hardship Withdrawal Self-Certification Summaries

by McDermott Will & Emery on

Two recently published memoranda by the Internal Revenue Service (the IRS) indicate that it is permissible for 401(k) and 403(b) plan sponsors and their third party administrators (TPAs) to rely on participants’ written...more

The IRS Provides Updated Guidance on Hardship Distributions

by Bass, Berry & Sims PLC on

The Internal Revenue Service (IRS) recently issued updated audit guidelines for its agents regarding the substantiation requirements for hardship withdrawals from 401(k) and 403(b) plans. This guidance is welcome news for...more

401(k) and 403(b) Plan Hardship Distribution Substantiation: What Will the IRS Be Looking For?

by Jackson Lewis P.C. on

On February 23 and March 7, 2017, the Internal Revenue Service (“IRS”) issued memoranda to examination agents addressing review of substantiation provided in support of safe harbor hardship distributions under 401(k) and...more

Guidance to IRS Examiners on 401(k)/403(b) Hardship Withdrawals

by Seyfarth Shaw LLP on

Substantiation Requirement Clarified for Examination Purposes - Over the past few years, employers and plan administrators have frequently asked how hardship withdrawal requests can/should be substantiated from 401(k)...more

Employee Benefits Developments - February 2017

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of February 2017. March 31, 2020 Deadline for Amending 403(b) Plans - When the Internal Revenue Service...more

The ERISA Litigation Newsletter - January 2017

by Proskauer Rose LLP on

Editor’s Overview - In 2016, we saw a considerable uptick in the number and variety of excessive fee lawsuits commenced against plan fiduciaries of defined contribution plans. We begin the year by taking a look at these...more

Excessive Fee Litigation

by Saul Ewing LLP on

Over the years, we have seen numerous class action lawsuits against plan fiduciaries, starting with claims relating to mega 401(k) plans and, more recently, claims against the fiduciaries of very large University-sponsored,...more

Guide for 401(k) and 403(b) Plan Administrators

by Shipman & Goodwin LLP on

While a 401(k) or 403(b) plan has now been the primary retirement planning vehicle in most companies’ benefits program for a decade or more, the way in which companies approach the administration of such plans has varied...more

Employee Benefits Developments - November 2016

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of November, 2016. ACA Information Reporting – Bad News and Good News - First, the bad news: The 2016 final...more

2016 End of Year Plan Sponsor “To Do” List Qualified Retirement Plans (Part 3)

by Snell & Wilmer on

As 2016 comes to an end, we are pleased to present you with our traditional End of Year Plan Sponsor “To Do” Lists. Like last year, we are presenting our “To Do” Lists in three separate Employee Benefits Updates. Part 1 of...more

Employee Benefits Developments - October 2016

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of October, 2016. 2017 Benefits Limits Announced - The Internal Revenue Service and Social Security...more

IRS Announces 2017 Pension and Related Limitations

The Internal Revenue Service recently announced the dollar limitations for pension plans and other items beginning January 1, 2017. ...more

IRS Announces 2017 Retirement Plan Limitations – Most Limits Remain Unchanged

by Locke Lord LLP on

The Internal Revenue Service announced the 2017 cost-of-living adjustments to the dollar limitations for qualified retirement plans and other benefits, and the Social Security Administration announced its own cost-of-living...more

2017 Cost-of-Living Adjustments for Retirement and Other Benefit Plans

by Faegre Baker Daniels on

The IRS recently announced the 2017 cost-of-living adjustments to various benefit and contribution limits applicable to retirement plans and welfare plans. Retirement Plan Limits - The following limits apply to...more

IRS Annual Limits on Qualified Plans for 2017

IRS Annual Limits on Qualified Plans for 2017 On October 27, 2016, the Internal Revenue Service released the 2017 cost of living adjustments affecting dollar limits on benefits and contributions under qualified retirement...more

IRS Announces Benefit Plan Limits and Thresholds for 2017

by McGuireWoods LLP on

The Internal Revenue Service (IRS) has announced various 2017 benefit plan limits and thresholds. There are increases from 2016 in some cases, but in other instances the 2016 amounts will continue to apply. Benefit Plans...more

How Secure is Your Retirement Plan?

by Robinson & Cole LLP on

Most employers are generally aware of their fiduciary status as a “plan sponsor” of an ERISA-governed retirement plan (e.g., 401(k) and 403(b) plans). In fact, the employer’s hiring of a service provider is in and of itself a...more

Advisors Advantage - September 2016

by Ary Rosenbaum on

Mistakes A Retirement Plan Provider Should Avoid Making. Quite a few potential mistakes to avoid. The history of business is littered with big companies making huge mistakes that either forced them out of business or...more

Absolutely no shock Universities being sued over their Plans

by Ary Rosenbaum on

There has been an influx of participant lawsuits against private universities for the 401(k) and/or 403(b) plans they sponsor for their employees. That’s like shooting fish in a barrel....more

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