The second Trump administration is intensely focused on enforcement of U.S. immigration laws. Understandably, employers are concerned about immigration visits and Form I-9 compliance, and human resource professionals are...more
2/21/2025
/ 401k ,
Compliance ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fair Labor Standards Act (FLSA) ,
Form I-9 ,
Immigration Reform ,
Internal Revenue Code (IRC) ,
Retirement Plan ,
Undocumented Immigrants
Over the past few months, the IRS has released guidance that may prove helpful for employers planning for open enrollment and Form W-2 reporting. In particular, we discuss how implementing certain SECURE 2.0 and CARES Act...more
10/17/2024
/ 1099s ,
401k ,
CARES Act ,
Health Savings Accounts ,
Incentives ,
Individual Retirement Account (IRA) ,
IRS ,
Private Letter Rulings ,
Reimbursements ,
Reporting Requirements ,
SECURE Act ,
Student Loans ,
W-2 ,
Withholding Tax
The SECURE 2.0 Act of 2022 (SECURE 2.0) significantly changes the legal and administrative compliance landscape for U.S. retirement plans. Foley & Lardner LLP is authoring a series of articles that take a “deep dive” into key...more
...In a 1986 press conference, President Ronald Reagan infamously quipped: “the nine most terrifying words in the English language are: ‘I’m from the government, and I’m here to help.’” While legislation affecting retirement...more
In last month’s 401(k) Compliance Check, we discussed the variety of typical notices that a 401(k) plan must send to plan participants. In this month’s Compliance Check, we focus on the issue of how to handle a situation...more
By now, you’ve probably read about the Department of Labor's new guidance on locating missing retirement plan participants. And, as you’re probably already aware, missing participants (and beneficiaries) can be a real...more
The COVID-19 pandemic has created great financial uncertainty for many employers. For those sponsoring defined benefit pension plans, certain Pension Benefit Guaranty Corporation (PBGC) reporting requirements may arise...more
Employers face unique legal and financial challenges in connection with the COVID-19 pandemic. One such challenge includes the impact of a potential furlough, workforce reduction, or facility closures on benefit plan...more
4/16/2020
/ Benefit Plan Sponsors ,
Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Compensation & Benefits ,
Compliance ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Employer Liability Issues ,
Federal Loans ,
Financial Stimulus ,
Health Care Providers ,
Healthcare Facilities ,
Lenders ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), signed into law on Friday March 27, 2020, expands the scope of individuals who are eligible for unemployment benefits, including those who are “furloughed”...more
Over the last few years, governmental agencies, retirement planning advisors, and social service providers have increasingly voiced concerns that American workers are not adequately saving for retirement. Many observers...more
In keeping with the theme of legal developments aimed at improving retirement preparedness, on May 23, the House of Representatives passed the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act). ...more
If an employer withdraws from a multiemployer pension plan such that the employer no longer has an obligation to contribute to the plan, the withdrawing employer is generally responsible for its share of the plan’s...more
As you have probably heard by now, the recently enacted Tax Cuts and Jobs Act (the Tax Reform Act) made significant changes to the Internal Revenue Code. With regard to executive compensation, the Tax Reform Act made widely...more
1/9/2018
/ Affordable Care Act ,
Compensation & Benefits ,
Corporate Taxes ,
Deferred Compensation ,
Executive Compensation ,
Fringe Benefits ,
Section 162(m) ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Rates ,
Tax Reform
Impact of Tax Reform on Employer-Provided Retirement, Welfare, and Fringe Benefits -
The recently enacted Tax Cuts and Jobs Acts (the “Tax Reform Act”) made significant changes to the Internal Revenue Code. Although there...more
1/8/2018
/ 401k ,
403(b) Plans ,
Affordable Care Act ,
Employee Benefits ,
Fringe Benefits ,
Hardship Distributions ,
Health and Welfare Plans ,
Individual Mandate ,
Individual Retirement Account (IRA) ,
Retirement Plan ,
Roth IRA ,
Tax Cuts and Jobs Act