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PODCAST: Williams Mullen's Benefits Companion - Plan Administrators’ 2019 Year-End Checklist
The 2010 Tax Relief Act and your estate plan
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As the year is drawing to a close, we offer you some general advice regarding year-end planning and updated inflation-adjusted figures for 2023. Annual Exclusion Gifts - In 2022, the annual exclusion amount is $16,000...more
As 2021 winds down, retirement plan sponsors should confirm that their plan documents are amended by December 31, 2021, to comply with certain plan changes: • Hardship Distributions. 401(k) plans and 403(b) plans must be...more
Each year, employers are faced with a number of year end deadlines related to employee benefits as well as new requirements facing them in the coming year. This article is meant to provide a brief summary of those issues....more
You may have changed the way hardship withdrawals are made from your 401(k) plan a couple of years ago to comply with changes in the law, but did you amend your plan? And for amendments to required minimum distributions that...more
As the end of 2021 approaches, despite the current focus on proposed legislative infrastructure, spending, and tax packages, retirement plan sponsors should take time before year-end to review deadlines for required 2021 plan...more
Holiday season and the end of the year are both quickly approaching, and with the turning of the calendar from 2021 to 2022 come several employee benefit plan amendment deadlines and implementation requirements. Some of these...more
As 2019 comes to an end, we are happy to present 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 year-end...more
Plan administrators should review the following actions to be taken before the end of 2018 and focus on what to expect for 2019. The following checklist addresses plan amendments, notices and other considerations for...more
Fall is here, which means open enrollment is coming up and end-of-year deadlines are right around the corner. As we quickly approach the end of 2017 and the start of a new year, here are some deadlines that employers will...more
The end of the year is rapidly approaching! To avoid costly penalties that can arise from inadvertent errors in the year-end rush, plan sponsors should begin talking with their service providers now about what must be done by...more
Each year, at this time, we remind our clients of the importance of keeping their estate plan up to date. Estate planning goals change over the years for many reasons, including the birth, marriage, death or disability of a...more
In This Issue: - Stuff That Prospective 401(k) Plan Providers Tell You That's True - The Conduct Code for Retirement Plan Sponsors - Stuff That Won't Help A Retirement Plan Sponsor Limit Their Liability ...more
With Thanksgiving done, we look to the holidays and the New Year. While many of us are busy shopping for loved ones, many businesses and individuals have their eye geared to- wards next year. As a retirement plan sponsor, you...more
Following Hawaii’s enactment of legislation recognizing same-sex marriage as of and after December 2, 2013 a number of additional pieces of guidance were also issued. Internal Revenue Service’s Frequently Asked Questions...more
Year-End Amendments - The month of December is a bit different in 2013. Typically, we mark this time scrambling to amend 401(k), profit sharing, and money purchase plans in order to maintain their tax-qualified status....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
With the Holiday season about to start, we know that the end of the year will soon follow. While plan participants maybe more concerned about holiday shopping or the firm’s annual holiday party, it’s a great and necessary...more
With Thanksgiving done, we look to the holidays and the New Year. While many of us are busy shopping for loved ones, many businesses and individuals have their eye geared towards next year. As a retirement plan sponsor, you...more
With year-end fast approaching, now is the time for plan sponsors to review their employee benefit plans to ensure that they have been updated for any changes in the law, that required notices have been distributed, and to...more