The administrative burden of determining the validity of rollover contributions to qualified retirement plans, and the associated risk of jeopardizing the plan’s tax-qualified status, traditionally has been a significant...more
• The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 clarified the rights of debtors and creditors to retirement assets in federal bankruptcy proceedings, but state attachment and garnishment of such assets...more
The IRS’s Employee Plans Compliance Resolution System (or “EPCRS”) permits corrections, both voluntary and on audit, of a broad range of “qualification failures” — i.e., violations of sometimes arcane and complex tax rules —...more
I love Las Vegas and I hate to gamble, which explains why I haven’t been to Atlantic City since 1995. I love the sights, sounds, the entertainment, the food, and everything but gambling. I hate gambling because I don’t like...more
Plan sponsors should consider whether they need to make certain plan amendments or provide certain plan notices prior to the end of the year.
The end of the year marks the deadline by which sponsors of qualified...more
Many employers know that with few exceptions a participant’s benefit in a tax qualified retirement plan is protected from the participant’s creditors. One exception is for court orders, known as qualified domestic relations...more
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