If we’ve said it once, we’ve said it a hundred times (ok, maybe just that one time) – recruiting and retaining top talent can be a headache for nonprofit organizations forced to compete against for-profit organizations...more
Recruiting and retaining top executives can be challenging for non-governmental tax-exempt organizations such as Code §501(c)(3) organizations, private universities, and certain healthcare organizations (Nonprofits). Not only...more
3/29/2024
/ 401k ,
403(b) Plans ,
501(c)(3) ,
Compensation ,
Corporate Executives ,
Deferred Compensation ,
Department of Labor (DOL) ,
Distribution Rules ,
Employee Retirement Income Security Act (ERISA) ,
EPCRS ,
FICA Taxes ,
Healthcare ,
Highly Compensated Employees ,
IRS ,
Required Minimum Distributions ,
Tax Exempt Entities
In last month’s 401(k) Compliance Check, we discussed the importance of developing (and maintaining) best practices for handling beneficiary designations. This month, we discuss one of the most common problems faced by 401(k)...more
Every year about this time, when the holiday season is just beginning and the new year is around the corner, all good qualified retirement plan sponsors (and plan administrators) ask: “Have we adopted all the IRS-required...more
While there has been some improvement in the spread of COVID-19 in the US, the daily count of new cases remains high. As a result, many large employers have extended their remote working policies through the fall, with others...more
9/17/2020
/ Coronavirus/COVID-19 ,
De Minimis Claims ,
Fringe Benefits ,
HDHPs ,
Internal Revenue Code (IRC) ,
IRS ,
Mental Health ,
Non-Taxable Income ,
Remote Working ,
Subscription Services ,
Taxable Income
While not exactly a Thanksgiving “miracle,” many retirement plan sponsors were no doubt thankful for the IRS’ recent issuance of proposed regulations (the “Proposed Regs”) addressing changes to the Code §401(k) and 403(b)...more
In a February 2018 article, my colleague Kathleen Dreyfus Bardunias encouraged retirement plan sponsors to implement annual “operational checkups” in order to ensure their plans were administered in compliance with the plan’s...more
When Hurricanes Harvey and Irma made landfall in Texas and Florida, they gave rise not only to widespread property damage, but to a humanitarian disaster as well. The massive storms have left scores dead and thousands...more
9/27/2017
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Benefit Plan Sponsors ,
Charitable Donations ,
Employee Retirement Income Security Act (ERISA) ,
FEMA ,
Hardship Distributions ,
Hurricane Harvey ,
Hurricane Irma ,
Hurricane Maria ,
IRS ,
Leave of Absence ,
Legislative Agendas ,
Loans ,
Popular ,
Qualified Disaster Relief Payments
Employer-sponsored retirement plans come in many varieties. For example, under 401(k) and other defined contribution plans, employees and, often, employers may make specific contributions to an employee’s plan account...more
In recent guidance, the IRS surprised plan sponsors with its plan to prevent them from using one means of “de-risking” their defined benefit pension plans to reduce their pension plan liabilities. In Notice 2015-49, the IRS...more
You know it’s Fall when the leaves turn color, jack-o-lanterns wink in the twilight, the World Series plays on … and the IRS announces new indexed annual limits for employee benefit plans. Sticking to tradition, the IRS...more
Every year around this time (and hopefully even earlier), many plan sponsors begin the arduous task of preparing determination letter applications for their qualified retirement plans (i.e., their profit-sharing, 401(k),...more
Earlier this year, the IRS issued final regulations that provide additional guidance on the employer shared responsibility rules (also called the “pay or play” rules) that will generally apply to employers’ group health plans...more
Last week, the IRS issued final regulations that provide additional guidance on the new “pay or play” rules (also called the employer shared responsibility rules) that will generally apply to employers’ group health plans...more