On March 4, 2022, the United States District Court for the District of Massachusetts dismissed a putative class action alleging that a plan used outdated, and therefore unreasonable, actuarial assumptions when making benefits...more
On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act (the “IIJA”) into law. IIJA contains two sections that may affect qualified retirement plans....more
Since 2019, plaintiffs’ counsel has filed just over a dozen class action lawsuits against plan sponsors and fiduciaries alleging that the plans use “unreasonable” actuarial equivalence factors, primarily “outdated” mortality...more
In recent months, two competing visions for multiemployer pension reform legislation have been introduced in Congress....more
On November 5, 2020, the Internal Revenue Service (“IRS”) released final regulations under section 401(a)(9) of the Internal Revenue Code (“IRC”). 85 Fed. Reg. 72472 (Nov. 12, 2020). The final regulations, which closely...more
On July 31, the IRS issued Notice 2020-61 (the “Notice”) to provide guidance related to the special funding rules applicable to single-employer defined benefit pension plans under the Coronavirus Aid, Relief, and Economic...more
8/17/2020
/ Benefit Plan Sponsors ,
CARES Act ,
Deadlines ,
Defined Benefit Plans ,
Employee Benefits ,
Filing Deadlines ,
Form 5500 ,
Guidance Update ,
IRS ,
Notification Requirements ,
PBGC ,
Retirement Plan
The House of Representatives recently passed a fourth round of legislation in response to the COVID-19 pandemic. The bill – called the Health and Economic Recovery Omnibus Emergency Solutions Act (the “HEROES Act” or the...more
6/1/2020
/ CARES Act ,
COBRA ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Families First Coronavirus Response Act (FFCRA) ,
Health and Welfare Plans ,
Health Insurance ,
Legislative Agendas ,
Pensions ,
Relief Measures ,
Retirement Plan
In recent years, many defined benefit (“DB”) pension plan sponsors have taken action to limit ongoing coverage and benefit accruals of their DB plans. Over time these plans may have difficulty continuing to satisfy the...more
1/13/2020
/ Benefit Plan Sponsors ,
Best Practices ,
Compensation & Benefits ,
Compliance ,
Defined Benefit Plans ,
Defined Contribution Plans ,
Employee Benefits ,
Employer Liability Issues ,
IRS ,
Minimum Participation Rules ,
New Rules ,
Non-Discrimination Rules ,
Pension Reform ,
Plan Administrators ,
Retirement Plan ,
Retirement Plan Providers ,
SECURE Act ,
U.S. Treasury