On April 10, 2013, the White House released its Fiscal Year 2014 Budget (the Budget), which includes a number of proposals related to employee benefit plans. Although it is unlikely that all of the proposals will ultimately...more
Employers know that benefits under a retirement plan can be split between a participant and a former spouse in the event of a divorce under the terms of a qualified domestic relations order (QDRO). A domestic relations order...more
The bankruptcy of the largest U.S. city to file a chapter 9 bankruptcy petition has yielded a decision with serious implications for municipal creditors. Specifically, the United States Bankruptcy Court for the Eastern...more
Overview - Part I and Part II have focused on the tax planning possibilities of small business owners and owners of professional corporations utilizing an exemption for collectively bargained plans. This exemption allows...more
On January 2 , 2013, President Obama signed the American Taxpayer Relief Act of 2012 (H.R. 8) (the “Relief Act”) into law. While the principal intention of the Relief Act was to avert the key elements of the “fiscal cliff” by...more
The Internal Revenue Service has announced cost of living adjustments (COLA) applicable to dollar limitations for retirement plans for 2013. Employers should make sure that the individuals in charge of their payroll...more
Whether your employer has set up a new 401(k) plan, or you are now eligible to participate, or deciding to participate after years of not deferring, you will have many questions concerning participating in the plan. The...more
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
The newly enacted American Taxpayer Relief Act (H.R. 8) includes a significant new opportunity to perform “in-plan” conversions of pretax dollars to Roth (after-tax) dollars of funds held in defined contribution retirement...more
Pension and benefit plans in Canada are delivered through a mix of public and private channels. Provincial governments provide basic universal health care to residents, while most employers supplement that coverage with...more
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