The SECURE Act was passed in late 2019, in what seems like another era, with the goal of increasing participation in 401(k) plans. One way to reach that goal was a new mandate, starting in 2021, to track long-term, part-time...more
This advisory summarizes key provisions in the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) applying to employee benefit plans. We provide a summary of key items and more detailed FAQs relating to...more
3/30/2020
/ 401k ,
CARES Act ,
Coronavirus/COVID-19 ,
Defined Contribution Plans ,
Employee Benefits ,
Employer Group Health Plans ,
Hardship Distributions ,
Payroll Taxes ,
Relief Measures ,
Retirement Plan ,
Student Loans ,
Tax Credits ,
Telehealth
In a previous blog, we discussed the potential changes under the Setting Every Community Up for Retirement Enhancement (SECURE) Act of interest to plan participants. ...more
In a rare bipartisan display, the House passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act by a vote of 417-3. The Act now goes to the Senate for reconciliation with similar bills and hopefully...more
The recent well-publicized announcement of lawsuits against 403(b) plans of Duke, Yale, NYU, Vanderbilt, and other universities opens a new chapter in ERISA litigation over excessive plan fees. We have reported on this type...more
The IRS has issued new guidance giving sponsors of Safe Harbor 401(k) plans much greater flexibility to amend their plans during a plan year. This is welcome relief from the previous IRS position that had hobbled such plans....more
The recent “fiscal cliff” tax law, the American Taxpayer Relief Act (ATRA), includes a provision effective Jan. 1, 2013 that greatly expands the ability of plan participants to convert pre-tax plan accounts to after-tax Roth...more