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Benefit Plan Sponsors › Guidance Update

Proskauer - Employee Benefits & Executive...

DOL Updates Guidance on Pension and Health & Welfare Plan Cybersecurity Best Practices

Proskauer - Employee Benefits & Executive... on

In 2021, the U.S. Department of Labor (DOL) issued 3 documents outlining guidance on cybersecurity practices for benefits plans, which we discussed in a blog post at the time. The DOL recently issued revised versions of the...more

Verrill

2025 Is the New 2022: IRS Extends Deadline to Adopt SECURE Act Amendments and CARES ACT Waiver of 2020 RMDs Amendment

Verrill on

The extended deadline for adopting these amendments is December 31, 2025, for qualified non-governmental retirement plans, including 401(k) plans, money purchase pension plans, and defined benefit plans, and for 403(b) plans...more

McDermott Will & Emery

New IRS Guidance for Tax-Qualified Pension Plans with Rehired Retirees Due to COVID-19

McDermott Will & Emery on

The Internal Revenue Service (IRS) recently updated its guidance for retiree distributions under a defined benefit plan. Specifically, the new IRS guidance addresses rehires following a bona fide retirement due to COVID-19. ...more

Snell & Wilmer

Updated Nonqualified Deferred Compensation Plan Audit Guide

Snell & Wilmer on

In June the Internal Revenue Service released an updated Nonqualified Deferred Compensation Audit Technique Guide. This updated Guide replaces the initial Guide published in 2015. While it is too early to say whether the...more

Groom Law Group, Chartered

IRS and PBGC Guidance on Single-Employer Defined Benefit Funding Relief Under The CARES Act

Groom Law Group, Chartered on

On July 31, the IRS issued Notice 2020-61 (the “Notice”) to provide guidance related to the special funding rules applicable to single-employer defined benefit pension plans under the Coronavirus Aid, Relief, and Economic...more

BCLP

BCLP Benefits Mid-Year 2020 Newsletter: Q2 2020 COVID-19 and Additional Regulatory Guidance

BCLP on

In the second quarter of 2020, we have seen employers faced with continued challenges as they manage the impact of the COVID-19 pandemic on their businesses and begin the process of returning to normal operations. The flurry...more

Bass, Berry & Sims PLC

The IRS Provides Updated Guidance on Hardship Distributions

Bass, Berry & Sims PLC on

The Internal Revenue Service (IRS) recently issued updated audit guidelines for its agents regarding the substantiation requirements for hardship withdrawals from 401(k) and 403(b) plans. This guidance is welcome news for...more

McDermott Will & Emery

DOL Clarifies Fiduciary Duties for Defined Contribution Plan Sponsors Offering Annuity Contracts

McDermott Will & Emery on

The availability of annuity options under defined contribution plans has increased in recent years due to the shift from defined benefit to defined contribution plans. Fiduciaries, however, are often concerned with potential...more

Bradley Arant Boult Cummings LLP

IRS Updates Special Tax Notice for Retirement Plans

Bradley Arant Boult Cummings LLP on

The Internal Revenue Service has issued Notice 2014-74, updating its safe harbor model notices for use by qualified retirement plans to satisfy the special tax notice requirement under Section 402(f) of the Internal Revenue...more

Proskauer - Employee Benefits & Executive...

New Guidance on COBRA and ACA Marketplace Coverage: The Gap in Coverage is (Not Quite) Filled

Proskauer - Employee Benefits & Executive... on

There has been much confusion and concern about the interplay between the COBRA continuation coverage rules and the new Health Insurance Marketplace established under the Affordable Care Act (the “Marketplace”). One important...more

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