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Retirement Plan › Employee Benefits › Payroll Deductions

Fisher Phillips

It’s Time for New Jersey Employers to Register for State-Administered Retirement Savings Program

Fisher Phillips on

If your New Jersey business doesn’t sponsor a retirement savings program, it’s time for you to create a system allowing workers to sock away retirement money through automatic payroll deductions. Thanks to the New Jersey...more

Verrill

Maine’s Mandatory Retirement Savings Program: What Employers Need to Know

Verrill on

On October 18, 2023, the Maine Retirement Savings Board adopted a final rule implementing Maine’s state-run retirement savings program, the Maine Retirement Investment Trust or MERIT. MERIT is intended to help employees who...more

Jackson Lewis P.C.

California Passes Legislation to Expand Mandated Retirement Plans

Jackson Lewis P.C. on

In 2016 California passed legislation that employers who do not sponsor an employee-retirement plan must participate in a state-run retirement program. This program became known as CalSavers....more

Fisher Phillips

Most New Jersey Employers Must Provide Retirement Savings Programs Starting March 28

Fisher Phillips on

New Jersey employers with 25 or more employees that do not currently sponsor a retirement savings plan will soon be required to facilitate their employees’ enrollment in the New Jersey Secure Choice Savings Program Fund to...more

Franczek P.C.

Illinois Teachers’ Retirement System Supplemental Savings Plan Update

Franczek P.C. on

On January 10, 2022, teachers will be able to begin submitting applications to the Illinois Teachers’ Retirement System (TRS) to participate in TRS’s new Supplemental Savings Plan (SSP) which is a tax-deferred compensation...more

Fisher Phillips

New York Employers Soon Required to Enroll Employees in Retirement Savings Plan

Fisher Phillips on

New York employers that don’t sponsor their own retirement plans will soon be required to automatically enroll employees in New York’s state-run savings plan. Lawmakers originally created the New York State Secure Choice...more

Jackson Lewis P.C.

New Mandatory Retirement Plan Requirement For Certain New York City Employers

Jackson Lewis P.C. on

On May 11, 2021, the City Council of New York enacted a local law to establish a retirement savings program for certain employees of private entities. What are the Details? The new law creates a mandatory...more

Hutchison PLLC

Qualified Retirement Plans Utilized by Startups and Early Stage Companies

Hutchison PLLC on

Many employers feel it is necessary, as part of a competitive recruitment process, to adopt a tax qualified retirement-savings plan for employees. Here are some forms of tax qualified retirement plans early stage companies...more

Schwabe, Williamson & Wyatt PC

Oregon Launches Retirement Savings Program: Employer Registration Will Be Required

Schwabe, Williamson & Wyatt PC on

In 2015, Oregon passed legislation creating a state-based retirement savings program that has since been named “OregonSaves.” Implementation of the OregonSaves program was delayed pending the issuance of final rules by the...more

Littler

Oregon Board Adopts Final Rules to Implement Retirement Savings Program

Littler on

On April 18, 2017, the Oregon Retirement Savings Board adopted final rules to implement the Oregon Retirement Savings Program (known as “OregonSaves”) codified at 170-090-0001 et seq. OregonSaves establishes a...more

Littler

Mandatory Payroll Deduction Savings Programs Are on the Rise

Littler on

According to the U.S. Department of Labor (DOL), one-third of American workers do not have the option to participate in a retirement savings plan through their employers. To help employees save for retirement, more states are...more

Jackson Walker

Davidson v. Henkel — What’s Going On With Nonqualified Deferred Compensation Plans and FICA

Jackson Walker on

In This Presentation: - Davidson v. Henkel Corp. - The Parties - NQ Plan - The Plan’s Tax Clauses - Davidson’s Pre-Retirement Counseling - 2011 Compliance Review and Letter - Henkel’s Tax...more

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