Employers that do not timely deposit participant deferrals and loan contributions to their employer sponsored retirement plans can be subject to Department of Labor (DOL) penalties for breaching their fiduciary duties....more
6/10/2025
/ Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Contributions ,
Employer Contributions ,
Excise Tax ,
Fiduciary Duty ,
IRS ,
New Guidance ,
Penalties ,
Prohibited Transactions ,
Retirement Plan ,
Tax Liability
The Department of Labor (DOL) issued guidance earlier this month that will affect defined benefit plans’ annual funding notices. The annual funding notice requirements were amended by SECURE 2.0 and are effective for plan...more
4/23/2025
/ Amended Regulation ,
Defined Benefit Plans ,
Department of Labor (DOL) ,
Employee Benefits ,
Filing Deadlines ,
Multiemployer Plan ,
New Guidance ,
Notice Requirements ,
Pensions ,
Regulatory Requirements ,
Retirement Plan ,
SECURE Act
The retirement plan industry has been wrestling with the changes to required minimum distribution (RMD) provisions made by the SECURE Act and SECURE 2.0. One issue in particular has caused considerable confusion....more
8/28/2024
/ Beneficiaries ,
Distribution Rules ,
Employee Benefits ,
Excise Tax ,
Guidance Update ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
New Rules ,
Relief Measures ,
Required Minimum Distributions ,
Retirement Plan ,
SECURE Act
IRS guidance issued last week delays the implementation of mandatory Roth catch-up contributions. As outlined in our blog post earlier this year, SECURE 2.0 amended the catch-up contribution provisions of the Code....more