News & Analysis as of

401k Final Rules

Woodruff Sawyer

2024 Compliance Hot Topics

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Congratulations to everyone for successfully safely navigating your health plans out of the pandemic crisis. We will review some of the key 2024 compliance hot topics you should know about in this annual benefits legislative...more

Snell & Wilmer

Corporate Communicator - 2024 Annual Meeting Season

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Clawback Rules. As previously discussed in last Winter’s Corporate Communicator, the Securities and Exchange Commission (“SEC") adopted final rules in October 2022 directing the NYSE and Nasdaq to adopt listing standards that...more

Polsinelli

New Form 5500 Rules Permit More Plans to Qualify for Audit Exemption

Polsinelli on

The Department of Labor, Internal Revenue Service, and Pension Benefit Guaranty Corporation recently issued final rules on employee benefit plan annual reporting requirements that are effective for plan years beginning on or...more

Miller Canfield

ERISA and ESG: Less Confusion?

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​​​​​​​Last year the Department of Labor (“DOL”) proposed changes to ERISA regulations that govern the consideration of environmental, social, and governance (“ESG”) factors in retirement plans, as well as fiduciary...more

Parker Poe Adams & Bernstein LLP

DOL Removes Certain Restrictions on ESG Considerations in ERISA Plan Investment Management

In November, the Department of Labor (DOL) issued a final rule (Final Rule) that will remove certain restrictions on environmental, social, and governance (ESG) considerations in plan investments. These restrictions were...more

Foley Hoag LLP

DOL Eases Restrictions on Use of ESG Factors in Retirement Plan Investment Decisions

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The U.S. Department of Labor (“DOL”) has issued a final rule (the “Final Rule) addressing how ERISA fiduciaries may consider environmental, social and governmental (ESG) factors in making investment decisions for retirement...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL won’t enforce ESG and proxy voting rules

Not surprising most of us, the Department of Labor (DOL)’s Employee Benefits Security Administration (EBSA) announced that it won’t enforce recently published rules on Environmental, social, and governance (ESG) investments...more

Foley & Lardner LLP

An Irony of Ironies – The Final ACA Price Transparency Rule

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Some found it somewhat ironic when, only one week before the Acting Solicitor General appeared before the United States Supreme Court to argue that Congress effectively repealed the entire Affordable Care Act (“ACA”) in...more

McDermott Will & Emery

Final Rule for Selecting Retirement Plan Investments Leaves ESG Behind

McDermott Will & Emery on

On October 30, 2020, the US Department of Labor (the DOL) issued a final rule to codify standards for how plan fiduciaries must consider financial factors when selecting and monitoring plan investments (the “Financial Factors...more

Proskauer - Employee Benefits & Executive...

DOL Issues Final “ESG” Rule Restricting ERISA Fiduciary Consideration of Non-Pecuniary Investment Factors

On October 30, 2020, the U.S. Department of Labor (the “DOL”) issued a final rule on factors for selecting plan investments, which restricts “do-good” or “ESG” investing.  In response to public comments, the final rule rolls...more

Groom Law Group, Chartered

SECURE Act and Spending Bills – Impact on Plan Sponsors

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade, was enacted on December 20, 2019.  Many of the provisions in the...more

Vedder Price

The SECURE Act and Its Impact on Retirement Plans

Vedder Price on

On December 20, 2019, after months of uncertainty, the Setting Every Community Up for Retirement Enhancement (“SECURE”) Act finally became law. The SECURE Act makes numerous changes to both the Internal Revenue Code (IRC) and...more

Snell & Wilmer

IRS Issues Final Regulations for Hardship Distributions

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We previously reported on the Bipartisan Budget Act (the “Budget Act”) hardship distribution rule changes for qualified retirement plans. On September 23, 2019, the IRS issued final regulations implementing certain statutory...more

Verrill

Final Regulations on 401(k) Hardship Withdrawals

Verrill on

In September, the Treasury Department issued final regulations governing hardship withdrawals from 401(k) plans. The final regulations update the existing 2004 regulations to reflect recent statutory changes made to the...more

McDermott Will & Emery

Smarter and Not Harder: The New IRS Hardship Distribution Regulations

McDermott Will & Emery on

The Treasury Department and the IRS recently finalized new hardship distribution rules applicable to defined contribution plans. Plan sponsors should prepare for operational changes to comply with the new regulations,...more

Bricker Graydon LLP

401(k) and 403(b) plans must be updated January 1, 2020

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The IRS recently issued final regulations to standardize the administration of hardship distributions. Plans that permit hardship distributions must implement operational changes for hardship distributions by January 1, 2020,...more

Perkins Coie

IRS Finalizes Changes to 401(k) Hardship Distribution Rules

Perkins Coie on

The Internal Revenue Service issued final regulations on September 19, 2019, easing the 401(k) hardship distribution rules. The final regulations are substantially similar to the proposed regulations issued late last year,...more

Laner Muchin, Ltd.

IRS Finalizes Hardship Distribution Regulations For Qualified Retirement Plans

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Earlier this year, we summarized proposed Treasury regulations and the Bipartisan Budget Act of 2018, which made changes to the rules governing hardship distributions from 401(k) and 403(b) plans....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Final IRS Regulations for Hardship Distributions Incorporate a Decade of Legislative Changes

On September 23, 2019, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) published final regulations that modify the hardship distribution rules for profit sharing, 401(k), 403(b), and eligible...more

Stinson - Benefits Notes Blog

IRS Final Regulations Amend Hardship Distribution Rules for 401(k) and 403(b) Plans

On September 23, 2019 the Internal Revenue Service (“IRS”) issued final regulations amending the rules for hardship distributions from 401(k) and 403(b) plans (the “Final Regulations”)....more

Foley & Lardner LLP

Final Regulations on Hardship Distributions: Not Much New News is Good News

Foley & Lardner LLP on

If your company sponsors a 401(k) or 403(b) plan that allows participants to take hardship distributions, you probably had a conversation with your plan recordkeeper last year about changes to the rules on hardship...more

Flaster Greenberg PC

New ERISA Regulation Expands Access to 401(k) Plans for Small Employers

Flaster Greenberg PC on

In response to an Executive Order issued by the President last year directing regulatory action to expand access to workplace retirement plans, the U.S. Department of Labor (DOL) issued final regulations on the definition of...more

Proskauer - Employee Benefits & Executive...

Final Hardship Distribution Regulations, Part Three: New Disaster Relief and Expanded Sources Available for Hardship Distributions

The IRS recently released final regulations making a number of changes to the rules applicable to hardship distributions from 401(k) and 403(b) plans. Concluding our three-part series on the final regulations, this blog entry...more

Dechert LLP

Reducing Administrative Hardship – IRS Releases Final Regulations Relating to Hardship Distributions for Section 401(k) Plans

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The Internal Revenue Service (the “IRS”) issued final regulations, effective September 23, 2019 (the “Final Regulations”), that modify the hardship distribution rules for plans established under Section 401(k) of the Internal...more

Ballard Spahr LLP

U.S. Treasury Changes 401(k) and 403(b) Hardship Withdrawal Rules

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The U. S. Department of the Treasury recently issued final regulations governing hardship distributions from 401(k) and 403(b) retirement savings plans....more

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