All qualified retirement plans are subject to a myriad of requirements of the Employee Retirement Income Security Act of 1974, as amended (ERISA). The United States Department of Labor (DOL) is charged with enforcing the...more
5/17/2024
/ 401k ,
Administrative Procedure Act ,
Breach of Duty ,
Class Action ,
Department of Labor (DOL) ,
EBSA ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
ESOP ,
Fiduciary Duty ,
Filing Deadlines ,
Internal Revenue Code (IRC) ,
IRS ,
PBGC ,
Penalties ,
SECURE Act
The SECURE 2.0 Act of 2022 (SECURE 2.0) significantly changes the legal and administrative compliance landscape for U.S. retirement plans. Foley & Lardner LLP is authoring a series of articles that take a “deep dive” into key...more
8/16/2023
/ 401k ,
Benefit Plan Sponsors ,
Distribution Rules ,
Employee Contributions ,
Employer Contributions ,
FICA Taxes ,
Individual Retirement Account (IRA) ,
IRS ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Social Security
To help employers properly administer their 401(k) plans, in 2022, Foley & Lardner LLP is authoring a series of monthly “401(k) Compliance Check” newsletters. This article discusses the deadlines for plan sponsors to adopt...more
Worker classification is an area of major concern for employers of all sizes. Misclassification of workers as independent contractors has labor and employment ramifications as well as employee benefits ramifications. Guidance...more
Plan sponsors and other administrators of eligible retirement plans must ensure that these plans are operated properly in accordance with the applicable requirements of the Internal Revenue Code, including the applicable plan...more
8/18/2021
/ Audits ,
Automatic Enrollment ,
Benefit Plan Sponsors ,
EPCRS ,
Internal Revenue Code (IRC) ,
IRS ,
Overpayment ,
Retirement Plan ,
Revenue Procedures ,
Self-Correction Programs ,
Voluntary Correction Program
IRS Notice 2020-86 addresses in the form of questions and answers certain provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) affecting safe harbor retirement plans for plan...more