In general, a participant must make a deferral election to a non-qualified deferred compensation plan before the beginning of the plan year and the election must remain in effect for the entire plan year. Participants made...more
The 2020 appropriations act, which was signed into law by the President on December 20, 2019, contains a mix of good and bad news for employer-sponsored health plans. ...more
As part of the 2020 appropriations act, Congress passed the SECURE Act (Setting Every Community Up for Retirement Enhancement Act of 2019), which was signed into law by the President on December 20, 2019. The SECURE Act has a...more
The IRS has announced the annual limits that will apply to qualified retirement plans in 2020....more
Most plan administrators are familiar with a qualified domestic relations order or “QDRO,” which is used to split retirement plan benefits between a plan participant and an alternate payee, such as an ex-spouse or minor...more
The IRS has issued proposed regulations affecting hardship distributions under 401(k) plans. The regulations would implement changes made by the Bipartisan Budget Act of 2018, and are updated for several earlier legislative...more
On May 22, 2017, Secretary of Labor Jim Acosta announced that, after having been delayed 60 days, the Department of Labor’s (“DOL”) Conflict of Interest Rule (“Fiduciary Rule”) will largely apply on June 9, 2017. At that...more