News & Analysis as of

Qualified Retirement Plans Benefit Plan Sponsors Employee Retirement Income Security Act (ERISA)

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - Volume 13 Issue 6, June 2022

Organization Ideas For 401(k) Plan Sponsors To Limit Liability Organization tools always pop up for sale after New Year’s because a lot of people want to try to keep their resolutions. My local Costco always trots out the...more

Morgan Lewis - ML Benefits

Sponsors of Traditional Defined Benefit Plans with Lump Sum Distribution Option Should Prepare for Challenging Year-End

Many traditional defined benefit plans, such as final average pay plans, offer a lump sum distribution as an optional form of benefit. The amount of the lump sum distribution is sensitive to the applicable interest rate...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

IRS determination letter procedure updated

Rev. Proc. 2002-4 listed the update for requesting Internal Revenue Service (IRS) determination letters, private letter rulings, and other tax advice on employee plan matters. ...more

Snell & Wilmer

2021 End of Year Plan Sponsor “To Do” List (Part 3) Qualified Retirement Plans

Snell & Wilmer on

As 2021 comes to an end, we are pleased to present our traditional End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. Part 1 covered health and welfare plan...more

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

Puerto Rico Government Plan-to-Private Plan Rollovers Allowed

On January 20, 2021, the Puerto Rico Department of the Treasury (Departamento de Hacienda, commonly known as “Hacienda”) issued Administrative Determination No. 21-01 (AD 21-01), which provides that lump-sum distributions...more

Snell & Wilmer

2020 End of Year Plan Sponsor “To Do” List (Part 4) - Qualified Retirement Plans

Snell & Wilmer on

As 2020 comes to an end, we are pleased to present our traditional End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. Part 1 covered health and welfare plan...more

Bracewell LLP

The CARES Act Provides Significant Relief With Respect to Distributions From Qualified Retirement Plans

Bracewell LLP on

Late last night, the U.S. Senate passed by a vote of 96-0 the Coronavirus Aid, Relief and Economic Security Act (the CARES Act). In addition to, among other things, financial assistance to individuals and certain businesses,...more

Mintz - Employment Viewpoints

Tracking the SECURE Act’s Effect on Tax Qualified Retirement Plans

As we previously reported, on December 20, President Trump signed into law the “Setting Every Community Up for Retirement Enhancement Act of 2019,” known and referred to colloquially as the “SECURE Act.”...more

Proskauer - Employee Benefits & Executive...

SECURE Act: Considering Implications of Changes to Required Minimum Distribution Rules

As previewed in our prior blog post, the recently enacted SECURE Act includes many changes that affect employer-sponsored benefit plans and require the attention of plan administrators. Among these changes, effective for...more

Conn Kavanaugh

Important Changes in Retirement Planning

Conn Kavanaugh on

The holiday season is always a busy and eventful time, so you may have missed a new law that can impact how you plan for your retirement assets. On December 20, 2019, as part of a more comprehensive appropriations act, the...more

Ruder Ware

Carefully Consider Fiduciary Obligations

Ruder Ware on

The sponsorship of a qualified retirement plan can be rewarding but frustrating – there are so many rules. Unfortunately agricultural employers are not given a break when it comes to sponsoring such retirement plans. ...more

Epstein Becker & Green

New Jersey to Require Certain Employers to Participate in a State “Auto-IRA” Retirement Savings Plan Program

Epstein Becker & Green on

On March 28, 2019, New Jersey became the sixth state to pass legislation requiring that certain employers offer to employees a state-sponsored individual retirement account (“IRA”) program with automatic enrollment and...more

King & Spalding

DOL Confirms ERISA Preemption of State Laws Affecting Automatic Enrollment Features in ERISA Plans

King & Spalding on

The U.S. Department of Labor (the "DOL") issued an Information Letter on December 8, 2018 (the “Letter”) confirming that state laws requiring written consent before amounts are withheld from employees’ wages to contribute to...more

Snell & Wilmer

2018 End of Year Plan Sponsor "To Do" List (Part 3) - Qualified Retirement Plans

Snell & Wilmer on

As 2018 comes to an end, we are pleased to present you with our traditional End of Year Plan Sponsor “To Do” Lists. This year, we are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered...more

Snell & Wilmer

2017 End of Year Plan Sponsor “To Do” List Qualified Retirement Plans (Part 4)

Snell & Wilmer on

As 2017 comes to an end, we are pleased to present you with our traditional End of Year Plan Sponsor “To Do” Lists. This year, we are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered...more

Dentons

The Costly Tax Consequences of ESOP Disqualification

Dentons on

Over the past several years, the IRS has renewed its focus on auditing Employee Stock Ownership Plans (ESOPs), in part because of allegedly abusive arrangements (for a quick overview, see Courtney’s ESOP post). Unfortunately,...more

Alston & Bird

Do You Need to Send an Annual Notice to Plan Participants? If So, You May Need to Do So by December 1, 2016*

Alston & Bird on

Plan sponsors of defined contribution qualified plans may need to issue one or more annual notices to participants before the end of each plan year. Failure to issue a required annual notice can have significant consequences....more

King & Spalding

November and December 2016 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

King & Spalding on

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. To avoid such...more

Snell & Wilmer

2015 End of Year Plan Sponsor “To Do” List Part 2 – Qualified Retirement Plans

Snell & Wilmer on

As 2015 comes to an end, we are pleased to present you with our traditional End of Year Plan Sponsor “To Do” Lists. This year, we are presenting our “To Do” Lists in three separate SW Benefits Updates. Part 1 of the series...more

King & Spalding

November and December 2015 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

King & Spalding on

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. To avoid such...more

Franczek P.C.

Major Revisions to Qualified Plan Determination Letter Process Announced

Franczek P.C. on

Effective January 1, 2017, the staggered five-year determination letter remedial amendment cycles for individually designed plans will be eliminated, the IRS announced in Announcement 2015-19. Additionally, according to the...more

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

New Fiduciary Regulations Require Retirement Investment Advisers to Act in Clients’ Best Interests

On April 14, 2015, the U.S. Department of Labor (DOL) issued new proposed regulations that changed the definition of “fiduciary investment advice” as currently found in DOL Regulation 2510.3-21(c). These proposed rules also...more

Littler

Department of Labor Issues Sweeping Fiduciary Rule Proposal

Littler on

On April 14, 2015, the Department of Labor (DOL) released a proposal to re-define who is rendered a "fiduciary" of an employee benefit plan under the Employee Retirement Income Security Act (ERISA) by providing investment...more

Eversheds Sutherland (US) LLP

DOL Reproposes Expanded ERISA Fiduciary Definition and Revised Complex of Exemptions

On April 14, 2015, after 43 months in development, the U.S. Department of Labor (DOL) released its reproposal to expand the “investment advice fiduciary” definition under the Employee Retirement Income Security Act of 1974,...more

King & Spalding

March and April Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

King & Spalding on

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. To avoid such...more

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