As inflation and expectations of further interest rate increases by the Federal Reserve continue to challenge the U.S. economy, a silver lining of sorts is the opportunity to save at record levels, on a tax-deferred basis. In...more
The IRS announced in its June 3 Employee Plans Newsletter a new 90-day Pre-Examination Compliance Pilot Program. Under the program, which is in effect, the IRS will notify an employer that it intends to audit the employer’s...more
Under the terms of most qualified retirement plans, distribution is available only upon separation from service (whether voluntary or involuntary) or attainment of a specified age. The possibility of rehire after such a...more
Late last year, the IRS confirmed the widely expected cost-of-living adjustments to the various dollar limitations applicable to qualified retirement plans for 2022. Here are a few of the changes outlined in Notice 2021-61. ...more
The American Rescue Plan Act of 2021 is an enormous and intricate piece of legislation that has direct consequence for employers.
Signed into law by President Joe Biden on March 11, 2021, ARPA mandates several important...more
3/16/2021
/ Affordable Care Act ,
American Rescue Plan Act of 2021 ,
Biden Administration ,
COBRA ,
Coronavirus/COVID-19 ,
Dependent Care ,
Employee Retention ,
Employer Group Health Plans ,
Families First Coronavirus Response Act (FFCRA) ,
Flexible Spending Accounts ,
Hospitality Industry ,
IRS ,
Multiemployer Plan ,
Paid Leave ,
Pandemic Emergency Unemployment Compensation (PEUC) ,
Pensions ,
Popular ,
Relief Measures ,
Restaurant Industry ,
Self-Funded Health Plans ,
Tax Credits ,
Unemployment Benefits
Providing sweeping relief to employee benefit plan sponsors, participants and beneficiaries impacted by the COVID-19 emergency, the Employee Benefits Security Administration joined with the IRS to extend deadlines in order to...more
After a long period of relative stability enjoyed by sponsors of qualified retirement plans, several significant modifications have been made by the Bipartisan Budget Act of 2018 (Act), following closely on the heels of...more
10/31/2018
/ 401k ,
Breach of Duty ,
Defined Benefit Plans ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
ESOP ,
Fiduciary Duty ,
Individual Retirement Account (IRA) ,
IRS ,
Pensions ,
Retirement Plan
In the wake of Hurricane Harvey, the IRS provided some employee benefits-related relief to plan sponsors and participants. That relief was then extended to the victims of Hurricane Irma....more