Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties. To avoid such...more
In response to a request by U.S. Senators Ron Wyden (Oregon), Bernie Sanders (Vermont) and Patty Murray (Washington), the Government Accountability Office (“GAO”) earlier this year completed a study and published a report...more
On November 22, 2019, the U.S. Court of Appeals for the First Circuit (the “First Circuit”) reversed the 2016 decision of the U.S. District Court for the District of Massachusetts (the “District Court”) in Sun Capital...more
On December 20, 2019, the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) was signed into law. The SECURE Act implements new rules for creating and maintaining retirement plans. Plan...more
1/27/2020
/ 401k ,
Compensation & Benefits ,
Employee Benefits ,
Employer Contributions ,
Health and Welfare Plans ,
IRS ,
Multiemployer Plan ,
New Legislation ,
Retirement ,
Retirement Plan ,
Safe Harbors ,
SECURE Act
Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties. To avoid such...more
On October 22, 2019, the U.S. Department of Labor (DOL) announced proposed regulations that would allow disclosures for retirement plans to be posted online. The proposal aims to make retirement plan disclosures more...more
“Exit Contribution” an End-Run Around de minimis Withdrawal Liability -
A recent ruling from the U.S. Court of Appeals for the Fourth Circuit, Sheet Metal Workers’ National Pension Fund v. Four-C-Aire, Inc. (4th Cir. July...more
9/28/2019
/ Appeals ,
Collective Bargaining Agreements (CBA) ,
Compensation & Benefits ,
De Minimis Claims ,
Deferred Compensation ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Filing Deadlines ,
Health and Welfare Plans ,
Multiemployer Plan ,
Notice Requirements ,
Qualified Retirement Plans ,
Withdrawal Liability
Multiple Employer Plans: Proposed IRS Regulations Eliminate the “One Bad Apple” Rule -
A multiple employer plan (MEP) is a tax qualified retirement plan that is maintained by two or more employers who are not part of the...more
8/28/2019
/ Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Exemptions ,
IRS ,
Multi-Employer Pensions ,
Notice Requirements ,
PBGC ,
Pensions ,
Retirement Plan
In State of New York v. United States Department of Labor, the District Court for the District of Columbia held that the U.S. Department of Labor’s (“DOL”) final regulations on association health plans (“AHPs”) issued on June...more
IRS Re-Opens the Door to Retiree Lump Sum Windows -
The IRS recently issued Notice 2019-18, reversing its prior position set forth in Notice 2015-49 that offering retirees in pay status the opportunity to elect a “cash...more
The U.S. Department of Labor (the "DOL") issued an Information Letter on December 8, 2018 (the “Letter”) confirming that state laws requiring written consent before amounts are withheld from employees’ wages to contribute to...more
4/3/2019
/ 401k ,
Automatic Enrollment ,
Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Filing Deadlines ,
Notice Requirements ,
Preemption ,
Qualified Retirement Plans ,
Retirement Plan
Employers and Benefits Practitioners Eagerly Await Final Regulations on Expanded Use of HRAs -
The Internal Revenue Service (IRS), Department of Labor (DOL) and Department of Health and Human Services (HHS, together with...more
3/5/2019
/ Affordable Care Act ,
Department of Labor (DOL) ,
Employee Benefits ,
Executive Orders ,
Filing Deadlines ,
Health Insurance ,
HRA ,
Human Resources Professionals ,
IRS ,
Notice Requirements ,
Retirement Plan
PBGC v. Findlay Industries, Inc.: Sixth Circuit Expands Controlled Group and Successor Liability -
In Pension Benefit Guaranty Corporation v. Findlay Industries, Inc. et al., the Sixth Circuit ruled that a family trust which...more
The IRS recently updated its two model safe harbor explanations that can be used to satisfy the requirement under Section 402(f) to provide notices setting forth certain information to participants who are eligible for...more
10/1/2018
/ 401k ,
457(b) Plans ,
Compensation & Benefits ,
Distribution Rules ,
Employee Benefits ,
IRA Rollovers ,
IRS ,
Private Letter Rulings ,
Qualified Retirement Plans ,
Retirement Plan ,
Rollover Equity ,
Safe Harbors ,
Student Loans ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Taxation
IRS Issues New 162(m) Guidance -
August 21, 2018, the Internal Revenue Service (the “IRS”) issued Notice 2018-68 (the “Notice”) which provides initial guidance and clarification on amendments made to Section 162(m) of the...more
9/4/2018
/ Binding Contractual Rules ,
Covered Employees ,
Filing Deadlines ,
Health and Welfare Plans ,
IRS ,
Modification ,
Mutual Funds ,
Retirement Plan ,
Section 162(m) ,
Tax Cuts and Jobs Act ,
Tax Reform
401(k) Plan Hardship Rules: Recent Changes to Loosen Requirements May Require Plan Amendments -
The Tax Cuts and Jobs Act (the “Tax Act”) and the Bipartisan Budget Act of 2018 (the “Budget Act”) made several changes which...more
The Death of the Fiduciary Rule: the Fifth Circuit Vacates the Fiduciary Rule -
On June 21, 2018, the United States Court of Appeals for the Fifth Circuit officially vacated the Department of Labor’s (the “DOL’s”)...more
New federal tax credit for employer-paid family and medical leave--
Is it an opportunity your Company should consider? -
Employers providing, or thinking about providing, paid family and medical leave may be able to...more