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
...Cash Balance Plan Compliance with Back-Loading Requirements -
The rate at which a participant accrues benefits under a defined benefit pension plan must satisfy certain rules designed to ensure that the participant has...more
The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) includes a requirement that benefit statements issued by ERISA-governed defined contributions plans include lifetime income...more
The distressed financial condition of many multiemployer pension plans has been well-chronicled. Some employers have direct exposure to multiemployer pension plans as a result of union contracts requiring employer...more
Most weeks, a plan sponsor (and frequently, several plan sponsors) is sued for breach of fiduciary duty in connection with the investment choices offered under its 401(k) or 403(b) plans.
Often, the complaint alleges...more
Earlier this year, we discussed the lifetime income disclosure requirement that was included in the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”). When the disclosure requirement becomes...more
9/17/2020
/ Annuities ,
Compliance Dates ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Federal Register ,
Interim Final Rules (IFR) ,
Lifetime Income Disclosures ,
Retirement Plan ,
SECURE Act
In a little more than 35 years, 401(k) plans have become the dominant employer-sponsored retirement plan.
401(k) plans place the investment risk and reward squarely on the participant. The employee’s ultimate benefit is...more
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