The Federal Trade Commission’s (FTC) ban on noncompetition covenants (“noncompetes”) could significantly impact the design and administration of employee benefits and executive compensation arrangements....more
7/16/2024
/ Employee Benefits ,
Employment Contract ,
Executive Compensation ,
Federal Trade Commission (FTC) ,
Final Rules ,
Forfeiture ,
Non-Compete Agreements ,
Restricted Stocks ,
Restrictive Covenants ,
Severance Agreements ,
Unfair Competition
To the relief of plan sponsors everywhere, the Internal Revenue Service (IRS) recently issued Notice 2023-62, which provides guidance on the requirements of Section 603 of the SECURE Act 2.0 of 2022 relating to catch-up...more
9/6/2023
/ Benefit Plan Sponsors ,
Comment Period ,
Employee Contributions ,
Highly Compensated Employees ,
Individual Retirement Account (IRA) ,
IRS ,
New Guidance ,
Relief Measures ,
Retirement Plan ,
Roth IRA ,
SECURE Act ,
Time Extensions
Notwithstanding the current economic uncertainty, corporate transaction activity has remained steady, meaning buyers continue to address issues relating to a target company’s qualified retirement plans, such as a 401(k) plan....more
Earlier this year, the Internal Revenue Service (IRS) issued Notice 2022-23, which extended the deadline to make certain amendments pursuant to the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019,...more
12/7/2022
/ 403(b) Plans ,
457(b) Plans ,
Benefit Plan Sponsors ,
CARES Act ,
Employee Benefits ,
Filing Deadlines ,
Individual Retirement Account (IRA) ,
IRS ,
Pension Plan Amendments ,
Qualified Retirement Plans ,
Retirement Plan ,
SECURE Act ,
Time Extensions
Participants in dependent care assistance programs (DCAPs) will get the best of both worlds (at least in 2021) under new guidance from the Internal Revenue Service (IRS).
In another of what appears to be a seemingly...more
The Consolidated Appropriations Act, 2021 (CAA) contained temporary relief measures aimed at addressing unused contributions to health flexible spending accounts (FSA) and dependent care assistance programs (DCAP).
On...more
3/11/2021
/ Benefit Plan Sponsors ,
Cafeteria Plans ,
CARES Act ,
Carry-Over Basis ,
COBRA ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Deductibles ,
Dependent Care Assistance Program (DCAP) ,
Employee Benefits ,
Flexible Spending Accounts ,
Grace Period ,
Health Savings Accounts ,
IRS ,
Relief Measures
The COVID-19 pandemic is a public health and economic cataclysm, and few employers have been able to escape its impact on their business operations and employees. In their efforts to better manage their workforces during this...more
With a recent uptick in mergers and transactions, we thought it would be worthwhile to provide a refresher on some coverage testing issues related to retirement plans. Although a seemingly mundane topic, coverage testing...more
Given that a variety of qualified retirement deadlines are approaching, we thought a refresher on the subject would be helpful, especially for plans that utilize a calendar plan year. This article is intended to alert plan...more
3/13/2019
/ Benefit Plan Sponsors ,
Defined Benefit Plans ,
Defined Contribution Plans ,
distr ,
Employee Benefits ,
Internal Revenue Code (IRC) ,
IRS ,
Pensions ,
Qualified Benefit Plans ,
Qualified Retirement Plans ,
Retirement Plan
In January 2019, the Internal Revenue Service (IRS) issued Notice 2019-09, which provides interim guidance for Section 4960 of the Internal Revenue Code of 1986. As a reminder, Section 4960 imposes an excise tax of 21 percent...more
2/6/2019
/ Colleges ,
Congressional Committees ,
Covered Employees ,
Excise Tax ,
Executive Compensation ,
Golden Parachutes ,
Interim Guidance ,
Internal Revenue Code (IRC) ,
IRS ,
Tax Cuts and Jobs Act ,
Universities
Otis Redding and the Black Crowes may have proclaimed themselves “hard to handle now,” but thanks to recent guidance from the Internal Revenue Service (IRS), hardship distributions from 401(k) plans are a bit less hard to...more
On September 21, 2017, the U.S. Equal Employment Opportunity Commission (EEOC) filed a status report with the U.S. District Court for the District of Columbia in response to that court’s August 22, 2017, ruling against the...more
On August 22, 2017, the U.S. District Court for the District of Columbia issued its decision in the American Association of Retired Persons, Inc.’s (AARP) challenge to the wellness program regulations issued by the U.S. Equal...more
Authors: John A. Morrison (Atlanta), Taylor Bracewell (Atlanta) Published Date: October 11, 2016 Earlier this summer, the Internal Revenue Service (IRS) issued proposed regulations under Sections 409A and 457 of the Internal...more
On February 23, 2015, the Internal Revenue Service (IRS) issued the first piece of guidance that discusses the excise tax, better known as the “Cadillac Tax,” imposed by Section 4980I of the Internal Revenue Code of 1986, as...more