News & Analysis as of

Benefit Plan Sponsors Proposed Regulation

Faegre Drinker Biddle & Reath LLP

IRS Proposed Regulations for Plan Forfeitures

Today, employees are more likely than ever to seek new employment opportunities and change jobs. These employees may leave a company before becoming fully vested in their qualified retirement plan benefits – which may result...more

Holland & Knight LLP

Relief Extended from Certain Required Minimum Distribution Requirements for Beneficiaries

Holland & Knight LLP on

The IRS on April 16, 2024, released Notice 2024-35, which extends previously issued temporary relief from certain required minimum distribution (RMD) requirements for beneficiaries under qualified defined contribution plans...more

Troutman Pepper

Long-Term Part-Time Employee Eligibility Rules Now in Effect — Troutman Pepper Podcast

Troutman Pepper on

In the companion podcast to our recently published client advisory, Troutman Pepper Partners Emily Zimmer and Constance Brewster delve into the intricacies of the SECURE Act, also known as SECURE 1.0, and its successor,...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

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

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

Eversheds Sutherland (US) LLP

Department of Labor’s Fiduciary Rule 4.0 proposal

On October 31, 2023, following its announcement by President Biden, the US Department of Labor (DOL or Department) released its Proposal 4.0 regarding ERISA fiduciary investment advice, including amended exemptions for...more

McDermott Will & Emery

Treasury, DOL and HHS Issue Landmark Mental Health Parity Proposed Rule

The US Departments of the Treasury, Labor, and Health and Human Services (the Departments) recently issued much-anticipated proposed regulations under the Mental Health Parity and Addiction Equity Act (MHPAEA) to better...more

McDermott Will & Emery

Changing the Rules of the Game for Retirement Plans

McDermott Will & Emery on

Earlier this year, the Department of the Treasury and the Internal Revenue Service (IRS) issued proposed regulations on the use of forfeitures by tax-qualified retirement plans. The changes, published in the Federal Register,...more

Morgan Lewis - ML Benefits

IRS Proposes One-Year Limit on Use of Forfeitures in Defined Contribution Plans

The Internal Revenue Service (IRS) recently issued proposed regulations that would require forfeitures in defined contribution plans—i.e., unvested benefits forfeited by terminating defined contribution plan participants—to...more

Verrill

Proposed Regulations on How to Use Forfeiture Accounts: Helpful Guidance and a Great Reminder to Plan Sponsors

Verrill on

On February 27, 2023, the IRS published proposed regulations on the use of forfeitures in qualified retirement plans. For defined contribution plans, the regulations provide welcome clarity on what forfeitures can be used for...more

Eversheds Sutherland (US) LLP

Simply the vest: IRS streamlines rules for retirement plan forfeitures

On February 24, 2023, the IRS issued proposed regulations simplifying the use of forfeitures in qualified retirement plans, providing that forfeitures in defined contribution plans must be used by the end of the plan year...more

Morgan Lewis - ML Benefits

The New Year May Bring New Restrictions on Department of Labor Prohibited Transaction Exemptions

While the Department of Labor’s environmental, social, and governance rule garnered a lot of attention in 2022, there are two other developments simmering that could have significant implications for ERISA plans and financial...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

Morgan Lewis - ML Benefits

Update for IRA Providers: IRS Temporarily Halts Prototype IRA Opinion Letter Program

The Internal Revenue Service (IRS) is temporarily suspending the IRS Prototype Opinion Letter Program for individual retirement accounts and individual retirement annuities (IRAs) effective March 14, 2022. As noted in...more

Eversheds Sutherland (US) LLP

Proposed ERISA regulation may facilitate ESG in retirement plans

On October 14, 2021, the US Department of Labor (DOL) proposed changes to ERISA regulations that would again shift the analysis of consideration of environmental, social, and governance (ESG) factors in retirement plans...more

Latham & Watkins LLP

US Department of Labor Puts ESG Investing Back on the Menu

Latham & Watkins LLP on

A new proposal would amend changes made to ERISA less than a year ago that have proved to be detrimental to ESG investing. In a sweeping reversal of Trump-era policies, the US Department of Labor (DOL) has issued a...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

We will get PEP guidance soon

With less than six months before the launch of pooled employer plans (PEPs) comes word that the Department of Labor (DOL) has some proposed regulations on tap....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

HHS Proposed Guidance Would Clarify Rules for Drug Manufacturer Coupons

The Department of Health and Human Services (HHS) revisited the treatment of prescription drug manufacturer coupons in a proposed rule, published on February 6, 2020, that could be welcome news for employers that have been...more

Foley & Lardner LLP

Safe Harbors for Offering Health Coverage via an Individual Coverage Health Reimbursement Arrangement

Foley & Lardner LLP on

The Internal Revenue Service (“IRS”) released final regulations... that permit employers to set aside pre-tax funds into health reimbursement arrangements (“HRAs”) that can be used by employees to pay for premiums and other...more

King & Spalding

DOL’s Proposed Electronic Disclosure Regulations for Retirement Plans

King & Spalding on

On October 22, 2019, the U.S. Department of Labor (DOL) announced proposed regulations that would allow disclosures for retirement plans to be posted online. The proposal aims to make retirement plan disclosures more...more

Perkins Coie

US Department of Labor Proposes New “Notice and Access” Electronic Delivery Safe Harbor

Perkins Coie on

The U.S. Department of Labor (DOL) issued proposed regulations on October 23, 2019, providing for a new electronic-delivery safe harbor applicable to certain required disclosures for ERISA-governed retirement plans. Though...more

Laner Muchin, Ltd.

DOL Proposes New Electronic Disclosure Safe Harbor Rule For Retirement Plans

Laner Muchin, Ltd. on

In October, the Department of Labor issued proposed regulations that would allow retirement plan administrators to make required disclosures to participants accessible on a website; as opposed to requiring plan administrators...more

Bradley Arant Boult Cummings LLP

Proposed Regulations on Electronic Disclosures by ERISA Plans: What Plan Administrators and Sponsors Need to Know

In proposed regulations released last week, the Department of Labor (DOL) finally put forward a revision of its long-outdated regulations on the electronic delivery of certain participant disclosures required under ERISA...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

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