Employers that provide 401(k) and other defined contribution retirement plans to their employees on plan documents that have been “pre-approved” by the Internal Revenue Service (IRS) must sign updated documents by July 31,...more
As employers across the country are facing critical labor shortages, the Internal Revenue Service (IRS) has stepped in, attempting to help by removing barriers that may have previously stopped employers from rehiring retirees...more
Holiday season and the end of the year are both quickly approaching, and with the turning of the calendar from 2021 to 2022 come several employee benefit plan amendment deadlines and implementation requirements. Some of these...more
At the end of 2019, President Donald Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which included a number of changes to employer-sponsored retirement plans. One change involved...more
As cash flow and decreased revenue concerns rise, many employers are looking for ways to cut costs. This article generally identifies the circumstances that allow a safe harbor 401(k) plan sponsor to suspend safe harbor...more
On January 1, 2018, modifications to the rollover distribution rules for certain retirement plan participants with defaulted plan loans went into effect. As a result of a provision in the Tax Cuts and Jobs Act, the rollover...more