News & Analysis as of

IRA Rollovers 401k

Proskauer - Employee Benefits & Executive...

Game of Tomes: A Guide to the DOL’s Retirement Security Rule Proposal

The new “retirement security rule” package, issued by the U.S. Department of Labor (the “DOL”) on October 31, 2023, is the latest chapter in an almost 15-year effort by the DOL to amend the five-part test in its 1975...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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

IRA assets swell, thanks to rollovers

Individual retirement accounts (IRAs) remain the biggest segment of the retirement plan market, hitting almost $14 trillion in assets, thanks to 401(k) rollovers. Over the past 10 years, IRA market share has increased...more

Kohrman Jackson & Krantz LLP

Protecting Your Retirement Savings from a Market Crash

Markets have been unstable for months, causing investors to be on edge with good reason. Already this year, the stock market has fallen and wiped out over $3 trillion in retirement savings....more

Faegre Drinker Biddle & Reath LLP

SLOW Your Roll: DOL Temporarily Halts Enforcement of Compliance with PTE and ERISA Fiduciary Obligations for Rollover Advice

Benjamin Franklin once said “don’t put off until tomorrow what you can do today.” While that is always prudent advice, the Department of Labor (DOL) believes it’s best to grant an extension to investment advisors and...more

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

Dealing With Missing Participants in Terminating Puerto Rico 401(k) Plans

For a host of legal and practical reasons, the only feasible alternative for disposing of the accounts of missing participants in a terminating 401(k) or other defined contribution retirement plan qualified only in Puerto...more

Sherman & Howard L.L.C.

Retirement Plan Update: New DOL Disclosures And Updated IRS Notices

The Employee Benefits Group provides updates and guidance for clients with retirement plans. First, the Department of Labor recently issued interim final regulations requiring new information to be included on ERISA-covered...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Don’t forget that the RMD Rules are different for 2020

While the 4 Questions during the Passover holiday asks why this night is different than all other nights, the Internal Revenue Service (IRS) has reminded us that this year for required minimum distributions (RMDs) are...more

Jackson Walker

Payroll Tax Relief and Latest Developments in Retirement Plans and Benefits

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Payroll Tax Relief Under CARES Act, FFCRA, and Executive Order - While the Coronavirus Aid, Relief, and Economic Security (CARES) Act permitted employers to defer depositing the portion of the FICA taxes the employer pays...more

Pullman & Comley, LLC

Rollover Deadline Extended for Required Minimum Distributions from Retirement Accounts Waived Under the CARES Act

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As highlighted in our recent Tax Alert, in Notice 2020-51 (the Notice) the Internal Revenue Service (IRS) provides an extension of the 60-day rollover period to August 31, 2020 for individuals who have already taken a...more

Faegre Drinker Biddle & Reath LLP

Best Interest Standard of Care for Advisors #29

On June 15, SEC Chairman Clayton issued a statement partially entitled: “Need for Increased Care when Recommending 401(k)/IRA Rollovers and Withdrawals . . .”. As that title suggests, the Chairman’s statement covers areas...more

Ballard Spahr LLP

Federal Agencies Postpone Deadlines for Employee Benefit Plan Matters

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The Internal Revenue Service has issued Notice 2020-23, which automatically postpones certain deadlines affecting employee benefit plans. Specifically, any deadline that would ordinarily fall on or after April 1, 2020,...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Change the neglected part of automatic rollovers with FPS

One of the most forgotten parts of a 401(k) plan is the automatic rollover and who the automatic rollover provider is. I was going through a Department of Labor audit on a terminated plan and they asked me how the automatic...more

Faegre Drinker Biddle & Reath LLP

Best Interest Standard of Care for Advisors #15

The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Rule, RIA Interpretation and Solely Incidental Interpretation. I am discussing the SEC’s guidance in a series of articles entitled “Best Interest...more

Ballard Spahr LLP

Department of Labor OKs Automatic Rollover Into New Employer's Retirement Plan

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The Department of Labor (DOL) made it easier to consolidate small retirement account balances with a prior employer into a new employer’s plan, now without the direct involvement of the participant....more

Eversheds Sutherland (US) LLP

IRS to retirees – The check’s in the mail…and it’s taxable

In Rev. Rul. 2019-19, which was issued on August 14, the Internal Revenue Service (IRS) took another small step in its undertaking to address tax issues raised by missing or unresponsive retirement plan participants. The...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Retirement Plan Advisors Advantage - August 2019

Hot Topics For 401(k) Plan Providers. Stuff you should be aware of. The beauty of the retirement plan business is that it's constantly changing, the bad part of it is that it's constantly changing. As a plan provider,...more

Verrill

Recap of Change to Retirement Plan Rollover Rules for Plan Loan Offsets

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The Tax Cuts and Jobs Act of 2017 (“2017 Tax Act”) includes a provision that changed the rollover rules for certain plan loan offset distributions and that may not be well known to retirement plan sponsors and participants. ...more

Verrill

December 2018 Client Advisory

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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

Bass, Berry & Sims PLC

Qualified Retirement Plans: Recent Updates and Action Items

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As the end of the calendar year approaches, sponsors of qualified retirement plans should consider whether their plan documents require updates to comply with important legal changes and deadlines. Below is a summary of some...more

Winstead PC

Select Limits, Hardship Withdrawal Changes and a Rollover Automation Option

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Updated Limits Impacting Participant Contribution Elections for 2019 - While we have been waiting on guidance regarding whether retirement plans must be amended for the Tax Cuts and Jobs Act and the Bipartisan Budget Act...more

King & Spalding

Compensation and Benefits Insights - September 2018

King & Spalding on

The IRS recently updated its two model safe harbor explanations that can be used to satisfy the requirement under Section 402(f) to provide notices setting forth certain information to participants who are eligible for...more

Verrill

IRS issues updated 402(f) rollover distribution notices

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The IRS has issued new model notices for recipients of rollover distributions from qualified retirement plans. The updated notices reflect changes from the 2017 tax reform act, as wells as regulatory changes enacted since...more

Winstead PC

401(k) Notices and Updates

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The Tax Cuts and Jobs Act enacted late in 2017 and the Bipartisan Budget Act enacted in early February this year both made changes to the laws regarding rollovers from retirement plans and when a plan must accept certain...more

Pillsbury Winthrop Shaw Pittman LLP

Recent and Upcoming Changes to 401(k) Plans

Legislation enacted in recent months should result in fewer operational errors and expanded participant opportunities. The Tax Cuts and Jobs Act extends the period a participant may make a tax-free loan rollover to an IRA...more

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