The Department of Treasury and Internal Revenue Service (“IRS”) released Notice 2020-35 on May 28, 2020, which extends to July 15, 2020, a growing list of deadlines otherwise applicable to employee benefit plans within the...more
Emergency Withdrawals. Participants in defined contribution plans (profit sharing, 401(k), and 403(b) plans) could access their retirement savings now if plans are amended to allow coronavirus-related withdrawals....more
In April 2011, the U.S. Department of Labor (DOL) requested information from the public on how the DOL could structure a new safe harbor for electronic disclosures under ERISA. The DOL received hundreds of comments from...more
Section 402(f) of the Internal Revenue Code (the “Code”) requires plan sponsors to give written explanations of tax implications to recipients of qualified retirement plan distributions eligible for rollover treatment, often...more
5/25/2018
/ 401k ,
Breach of Duty ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Internal Revenue Code (IRC) ,
IRS ,
Pension Protection Act of 2006 ,
Retirement Plan ,
Tax Cuts and Jobs Act ,
Tax Reform
The status of the Department of Labor’s (DOL) final regulation expanding the scope of fiduciary status due to “render[ing] investment advice for a fee” and its accompanying prohibited transaction exemptions (the “Fiduciary...more