Seyfarth Synopsis: As Seyfarth has blogged about on multiple occasions, the CARES Act provides participants in tax-qualified retirement plans the opportunity to request distributions on a tax-favored basis by self-certifying...more
Hopefully still in time for 2019 plan design discussions, on November 9, 2018, the Department of the Treasury and the Internal Revenue Service (IRS) issued a Notice of Proposed Rulemaking to amend IRS regulations related to...more
11/16/2018
/ 401k ,
403(b) Plans ,
Employee Benefits ,
Hardship Distributions ,
Internal Revenue Code (IRC) ,
IRS ,
New Regulations ,
QMAC ,
QNEC ,
Regulatory Requirements ,
Retirement Plan
On Friday, February 9, 2018, the Bipartisan Budget Act of 2018 (the “Act”) was signed into law by President Trump, ending a brief government shutdown that began at 12:01 a.m. on Thursday, February 8, 2018. In addition to...more
This is the fourth issue in a planned series of alerts designed to provide an in-depth analysis on topics related to tax reform. This Tax Reform Management Alert issue focuses on executive compensation and employee benefits...more
12/21/2017
/ Compensation & Benefits ,
Corporate Taxes ,
Employee Benefits ,
Executive Compensation ,
Fringe Benefits ,
Hardship Distributions ,
Income Taxes ,
Legislative Agendas ,
Pending Legislation ,
Retirement Plan ,
Section 162(m) ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration
This is the second issue in a planned series of alerts for employers on selected topics on tax reform. The series of Tax Reform Management Alerts is designed to provide an in-depth analysis of executive compensation and...more
12/11/2017
/ Compensation & Benefits ,
Corporate Taxes ,
Deferred Compensation ,
Executive Compensation ,
Fringe Benefits ,
Hardship Distributions ,
Income Taxes ,
Legislative Agendas ,
Proposed Legislation ,
Retirement Plan ,
Section 162(m) ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration
The Internal Revenue Service (IRS) and Department of Labor (DOL) issued temporary relief on deadlines and procedural requirements applicable to employee benefit plans for employers impacted by Hurricane Harvey.
...more
9/6/2017
/ 401k ,
403(b) Plans ,
457(b) Plans ,
COBRA ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Contributions ,
Employer Group Health Plans ,
Form 5500 ,
Hardship Distributions ,
Hurricane Harvey ,
IRS ,
Natural Disasters ,
Reporting Requirements ,
Retirement Plan
Substantiation Requirement Clarified for Examination Purposes -
Over the past few years, employers and plan administrators have frequently asked how hardship withdrawal requests can/should be substantiated from 401(k)...more