PODCAST: Williams Mullen's Benefits Companion - New IRS Guidance on SECURE 2.0 Act Student Loan Employer Contributions
#WorkforceWednesday: SECURE Act 2.0 - What 401(k) Plan Sponsors Need to Know - Employment Law This Week®
ROCK OF AGES video
Three Timely Benefits Items Everyone Should Know
PODCAST: Williams Mullen's Benefits Companion - Student Loan Benefits
PODCAST: Williams Mullen's Benefits Companion - New Hardship Distribution Regulations for 401(k) Plans
Section 110 of the SECURE 2.0 Act of 2022 (“SECURE 2.0”) permits employers maintaining a 401(k), 403(b), governmental 457(b), or SIMPLE IRA plan to make matching contributions based on qualified student loan payments...more
Last year, we alerted you to the filing of several class action lawsuits alleging that plan fiduciaries violated their duties of prudence and loyalty under Title I of ERISA by applying forfeitures to reduce employer...more
The Secure 2.0 Act (Secure 2.0), a sweeping retirement bill included in Division T of the Consolidated Appropriations Act of 2023, was a major bipartisan accomplishment of the 117th Congress. The bill included 82 provisions...more
In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond. In an open letter to Secretary of the Treasury Janet Yellen and IRS Commissioner...more
In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond. Section 603 of the SECURE 2.0 Act requires catch-up contributions made by...more
On February 27, 2023, the Treasury issued proposed regulations intended to simplify and clarify the rules relating to forfeitures within qualified retirement plans. Defined Benefit Plans - Similar to defined...more
The Internal Revenue Service (IRS) is strategically working to execute the statutory changes that were outlined by the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) of 2019. However, the IRS’s efforts...more
For employers who contribute to financially-troubled multiemployer pension plans (multiemployer plans), a lot has changed in the last six months. In March, Congress passed the American Rescue Plan Act of 2021 (ARP) which...more
Notice 2020-68 from the IRS provides valuable clarification for sponsors of qualified plans, 403(b) plans, and 457(b) governmental plans, as well as IRA holders, related to certain provisions in the Setting Every Community Up...more
March 24, 2020 As COVID-19 has been disrupting our personal and professional lives, the April 15 tax deadline continued to loom on the horizon. In welcome news for many, on Friday, Treasury Secretary Steven Mnuchin announced,...more
As we wrote in November 2018, the Treasury Department issued proposed regulations that significantly relaxed many rules governing hardship distributions from qualified plans, including eliminating requirements that employee...more
Health Reimbursement Arrangements (HRAs) are account-based health plans funded with employer contributions to reimburse eligible participants and dependents for medical expenses. Prior to the Affordable Care Act, HRAs were...more
Contributing employers to multiemployer plans were relieved by the Treasury Department’s interim guidance stating that they will not be subject to the employer shared responsibility payments under the Affordable Care Act...more
The Treasury Department and the IRS had a busy week issuing no less than five Affordable Care Act guidance items, consisting of...more
The Employer Shared Responsibility provisions of the Affordable Care Act (“ACA”) generally require “applicable large employers” (i.e., employers who employed at least 50 full-time and full-time equivalent employees on...more
On November 14, 2013, the Internal Revenue Service (IRS) issued final regulations, which provide guidance on permitted mid-year reductions or suspensions of safe harbor nonelective contributions. The final regulations also...more