On July 26, 2021 the Department of Labor’s (DOL) Employee Benefits Security Administration issued a set of four frequently asked questions (FAQs) that address the implementation of Section 203 of the Setting Every Community...more
8/3/2021
/ 401k ,
Compensation & Benefits ,
Defined Benefit Plans ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Information Disclosure Statement ,
Interim Final Rules (IFR) ,
Lifetime Income Disclosures ,
Regulatory Requirements ,
Retirement Plan ,
SECURE Act
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (the “ARPA”) into law. Many of the provisions in this sweeping legislation bring changes to the employee benefits world of which employers should...more
4/1/2021
/ American Rescue Plan Act of 2021 ,
COBRA ,
Compensation & Benefits ,
Employee Benefits ,
Health Insurance ,
Multiemployer Plan ,
New Legislation ,
Regulatory Reform ,
Retirement Plan ,
Section 162(m) ,
Tax Credits
On October 26, 2020, the Internal Revenue Service (IRS) released Notice 2020-79, which sets forth the 2021 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The...more
On Friday, June 19, 2020, the IRS released Notice 2020-50 which provides additional guidance regarding the coronavirus-related distributions (“CRDs”) and coronavirus-related loans and loan repayment delays (“CR Loan Relief”)...more
6/25/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Distribution Rules ,
Employee Benefits ,
Federal Loans ,
Paycheck Protection Program (PPP) ,
Popular ,
Relief Measures ,
Retirement Plan ,
Safe Harbors ,
SBA Lending Programs
The Give Retirement Options to Workers Act (Grow Act) was introduced by representatives Phil Roe (R-Tenn.) and Donald Norcross (D-N.J.) on February 14, 2018. According to reports, provisions of the Grow Act were included in...more
Multiemployer Pension Recapitalization and Reform Plan -
Senate Republicans introduced their own multiemployer pension reform plan, the Multiemployer Pensions Recapitalization and Reform Plan (MPRRP), on November 20, 2019....more
The Rehabilitation for Multiemployer Pensions Act of 2019 (MPRA), also referred to as the "Butch-Lewis Act" proposes to establish a Pension Rehabilitation Administration (PRA) within the Department of Treasury that would...more
Since the coronavirus (COVID-19) first emerged as a serious health emergency, Congress has moved quickly to pass three major pieces of legislation designed to address the public economic and health crises caused by the...more
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which addresses the public economic and health crisis related to the 2019 novel coronavirus (COVID-19)....more
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which addresses the public economic and health crisis related to the 2019 novel coronavirus (COVID-19)....more
3/31/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Distribution Rules ,
Employee Benefits ,
Financial Stimulus ,
Pensions ,
Relief Measures ,
Required Minimum Distributions ,
Retirement Plan ,
Waivers
On September 23, 2019 the Internal Revenue Service (“IRS”) issued final regulations amending the rules for hardship distributions from 401(k) and 403(b) plans (the “Final Regulations”)....more
10/10/2019
/ 401k ,
403(b) Plans ,
Bipartisan Budget Act ,
Distribution Rules ,
Employee Benefits ,
Final Rules ,
Hardship Distributions ,
IRS ,
QMAC ,
QNEC ,
Regulatory Requirements ,
Retirement Plan ,
Safe Harbors
On June 13, 2019 the Department of Health and Human Services, Department of Labor and Department of the Treasury released final regulations that create new healthcare coverage options for employers and employees. ...more