Section 105 of the Employee Retirement Income Security Act of 1974, as amended (ERISA), requires administrators of defined contribution plans to provide participants with periodic pension benefit statements. Benefit...more
Why It Matters -
On May 10, the Internal Revenue Service (IRS) issued Notice 2021-26, which states that unused employer-provided dependent care assistance program (DCAP) benefits from 2020 or 2021 that are used in the...more
On March 26, the IRS announced that personal protective equipment (PPE) — such as masks, hand sanitizer, and sanitizing wipes for the primary purpose of preventing the spread of COVID-19 — are treated as medical care under...more
The American Rescue Plan Act of 2021 (ARPA), signed into law by President Biden on March 11, increases the amount employees can exclude from their 2021 gross taxable income for employer-provided dependent care assistance...more
Updated Safe Harbor Special Tax Notice (402(f) notice) & Lifetime Income Illustrations – Five Key Points for Plan Fiduciaries -
The IRS has updated its safe harbor Special Tax Notice required to be provided to plan...more
8/28/2020
/ 401k ,
Benefit Plan Sponsors ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Disclosure Requirements ,
EBSA ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Interim Final Rules (IFR) ,
IRS ,
Popular ,
Safe Harbors ,
SECURE Act
Who Needs to Know -
Employers and Employees Impacted by COVID-19.
Why It Matters -
Employers and employees alike continue to feel the impact of the COVID-19 pandemic. Despite a variety of tax incentives, employers may...more
8/27/2020
/ Business Losses ,
CARES Act ,
Charitable Deductions ,
Charitable Organizations ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Employer Contributions ,
Hiring & Firing ,
Income Taxes ,
Payroll Taxes ,
Relief Measures ,
Tax Deductions ,
Tax Incentives ,
Tax Relief ,
Wage and Hour