Qualified Retirement Plans

News & Analysis as of

For Some CalPERS Employers, Withdrawing from CalPERS is Not Feasible, So Why Not Look at Alternatives?

An article published in Thursday’s edition of The Bond Buyer highlights a rising concern of counties, cities and special districts that provide retirement benefits to their employees through the CalPERS pension plan: That,...more

Legal Alert: IRS Reaches a Split Decision on Rollover Allocation Rules

On September 18, the Internal Revenue Service (IRS) issued Notice 2014-54, which clarifies that, subject to some limitations, a single distribution of pre-tax and after-tax amounts from a qualified retirement plan, a 403(b)...more

Morgan Stanley Settles MBS Class Action with Pension Funds

On September 8, a stipulation and agreement of settlement was filed in relation to an action brought against Morgan Stanley & Co. by a group of pension funds led by Public Employees’ Retirement System of Mississippi and the...more

August and September 2014 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more

PBGC Coverage May No Longer Apply to Puerto Rico-Only Qualified Retirement Plans

Employers that sponsor defined benefit qualified retirement plans benefiting only Puerto Rico employees should be aware that Pension Benefit Guaranty Corporation (PBGC) coverage may no longer apply. Last year, the PBGC...more

What Does the Supreme Court’s Ruling in Fifth Third Bancorp v. Dudenhoeffer Mean for ESOPs and Other Retirement Plan Fiduciaries?

Fiduciaries of qualified retirement plans, including Employee Stock Ownership Plans (ESOPs), have generally been entitled to a presumption that they have acted prudently in offering employer stock as an investment alternative...more

The Federal Court for the Southern District of New York Rules that Employers with Self-Insured Health Plans Need Not Offer Medical...

The issue of same-sex spousal rights is now largely resolved for qualified retirement plans. However, substantial questions about same-sex spouse health benefits remain unanswered. In Roe v. Empire Blue Cross Blue Shield,...more

IRS updates determination letter request forms

In December of 2013, the IRS released new final versions of the Form 5300 and the Form 5310, forms which are used by individually designed retirement plans to request a determination as to the plan’s tax qualification status....more

IRS Provides Guidance on Retroactivity of DOMA Decision for Qualified Retirement Plans

The Internal Revenue Service (IRS) recently issued Notice 2014-19 and related answers to FAQs, which give plan sponsors additional guidance on how the Supreme Court's decision last June in U.S. v. Windsor applies...more

New Rules for IRS Relief on Late Form 5500 Filings

Form 8955-SSA Required to Correct Late Form 5500. The IRS recently issued a new rule for late Form 5500 filings on qualified retirement plans (such as 401(k) plans, ESOPs or pension plans) using the Department of Labor’s...more

May and June 2014 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more

Employee Plans Compliance Resolution System – Q&A #2

If an employer unintentionally fails to comply with the qualification requirements of the Internal Revenue Code with respect to its qualified plan, the employer may be able to avoid disqualification of the retirement plan if...more

QDROs For Unmarried Cohabitants?

Sponsors of qualified retirement plans know that, generally speaking, plan benefits cannot be taken from a participant through legal process or otherwise be assigned to anyone other than the participant. There is an exception...more

High Court to Rule on Retirement Fund Exemption

Ruth Heffron established an IRA naming her daughter, Heidi Heffron-Clark, as the sole beneficiary. Ruth died in 2001 and the account, valued at roughly $300,000, passed to Heidi. After her mother’s death, Heidi then...more

Rollover Contributions: What Plan Administrators Need to Know

Retirement plan administrators routinely receive requests from employees to accept rollover contributions of amounts held in a prior employer’s qualified plan or, in some cases, an IRA. When processing these requests, plan...more

New IRS Guidance Regarding Same-Sex Spouses: Employer Action Needed

On June 26, 2013, the U.S. Supreme Court, in the landmark case, United States v. Windsor, found the provisions of that portion of the “Defense of Marriage Act” (“DOMA”) which provided that only opposite-sex individuals could...more

IRS Issues Same-Sex Marriage Guidance for Retirement Plans

The IRS has issued guidance on the application of the Supreme Court’s 2013 decision regarding same-sex marriage to qualified retirement plans. In United States v. Windsor, the Supreme Court struck down the section of the...more

Old Days – Remembering When Small Business Had Pension Plans

We lived in politically charged times. Congress seems unable to reach any consensus on anything including where to have the annual Congressional Christmas Ball! Years of political crossfire over the Affordable Care Act have...more

New IRS Guidance Relating to Same-Sex Spouses and Qualified Retirement Plan Benefits

Shortly after the U.S. Supreme Court ruled (in U.S. v. Windsor) that Section 3 of the federal Defense of Marriage Act (DOMA) was unconstitutional, the IRS announced that same-sex marriages will be recognized for federal tax...more

IRS Issues Windsor Guidance For Qualified Retirement Plans

The IRS has issued Notice 2014-19, which provides anticipated guidance for sponsors of qualified retirement plans on complying with last year's Supreme Court ruling in United States v. Windsor. That decision deemed...more

Tax Alert: Attention Employers Using Pre-Approved Retirement Plans – It’s Amendment Time Again!

Do you sponsor a tax-qualified retirement plan that was pre-approved by the IRS? If so, pre-approved documents take one of two forms. - One is a prototype plan that uses a checklist-type Adoption Agreement and is...more

Oops, I Forgot To Distribute A Safe Harbor Notice For My Company's 401(k) Plan, Now What?

The Internal Revenue Service often publishes correction methods for common errors involving qualified retirement plan administration issues. One of the most common errors is failing to notify eligible employees of their safe...more

Do Your Qualified Retirement Plans Recognize Same-Sex Spouses as of June 26, 2013?

The IRS has published Notice 2014-19 and related FAQs regarding the application of the Supreme Court’s decision in United States v. Windsor and Rev. Ruling 2013-17 to qualified retirement plans. All retirement plans should be...more

Filling In The Retirement Plan Gaps For Same-Sex Couples—What It Means For Your Retirement Plan

Employers and participants alike have been anxiously waiting for further guidance from the Internal Revenue Service (IRS) on how marriages of same-sex couples will be treated for purposes of qualified retirement plans....more

New Guidance – Is that Rollover Contribution Valid?

Since 1992, the ability to move retirement money from one qualified plan to another qualified plan or individual retirement account has been simplified. One hiccup in this easing process has been determining the level of due...more

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