News & Analysis as of

Defined Benefit Plans CARES Act

Williams Mullen

2022 Annual Employee Benefits Compliance Checklist for Plan Administrators

Williams Mullen on

Plan administrators should review actions to be taken before the end of 2022 and focus on what to expect for 2023. This checklist addresses plan amendments, notices and other considerations for qualified retirement plans,...more

Eversheds Sutherland (US) LLP

Three cheers for three years: IRS extends deadlines for SECURE and CARES amendments

​​​​​​​The IRS has extended the deadline for adopting qualified retirement plan and IRA amendments to reflect changes made by the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), the Bipartisan...more

Downs Rachlin Martin PLLC

Vermont Legislative Update Week 3 | Government and Public Affairs

Legislators briefed on state pension challenges The House Government Operations Committee met on Thursday to discuss Vermont's overwhelming pension-underfunding problem. Joint Fiscal Office staff member Chris Rupe presented...more

Locke Lord LLP

IRS Extends Due Date for Contributions to Defined Benefit Plans to January 4, 2021

Locke Lord LLP on

The Internal Revenue Service recently announced that it will treat contributions to single-employer defined benefit pension plans, previously extended to January 1, 2021 by the CARES Act, as timely if made no later than...more

Seyfarth Shaw LLP

Happy New Year! The IRS Grants Permission to Celebrate New Year’s Eve

Seyfarth Shaw LLP on

Seyfarth Synopsis: The IRS has announced that the due date for contributions to a single-employer defined benefit pension plan due in 2020, previously extended to January 1, 2021 by the CARES Act, will be considered timely if...more

Seyfarth Shaw LLP

IRS Provides Guidance on CARES Act Defined Benefit Contribution Funding Relief

Seyfarth Shaw LLP on

Seyfarth Synopsis: As Seyfarth has blogged about on multiple occasions, the CARES Act provided relief for qualified plans as a result of COVID-19. With respect to qualified defined benefit pension plans, the CARES Act...more

Groom Law Group, Chartered

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

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

Jackson Walker

Payroll Tax Relief and Latest Developments in Retirement Plans and Benefits

Jackson Walker on

Payroll Tax Relief Under CARES Act, FFCRA, and Executive Order - While the Coronavirus Aid, Relief, and Economic Security (CARES) Act permitted employers to defer depositing the portion of the FICA taxes the employer pays...more

Seyfarth Shaw LLP

PBGC Issues Q&As Related to the Pandemic and the CARES Act

Seyfarth Shaw LLP on

Seyfarth Synopsis: With the background of the COVID-19 pandemic, the PBGC published unofficial guidance for plan sponsors of single-employer plans on certain reportable events, PBGC premium payments and plan termination...more

Proskauer - Employee Benefits & Executive...

IRS Extends Participant Eligibility for Distributions and Loans Under the CARES Act

In Notice 2020-50, the IRS expanded eligibility for CARES Act distributions and loans, and provided additional guidance. To recap, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) added three types of...more

Groom Law Group, Chartered

New Lawsuit Alleges Fiduciary Breaches by Plan Sponsor and Recordkeeper for Quarter Million Dollar Cybertheft

Brief Takeaway - As a result of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), plan sponsors and service providers across the country are bracing for a flurry of participant activity with respect to...more

Proskauer - Employee Benefits & Executive...

PBGC Announces COVID-19 Extensions for Premium Payments and Other Filing Deadlines

On April 10, 2020, the Pension Benefit Guaranty Corporation (the “PBGC”) announced that deadlines for upcoming premium payments and certain other required filings due from April 1, 2020 through July 14, 2020 will be extended...more

K&L Gates LLP

COVID-19: COVID-19 Considerations: Employer Sponsored Retirement Plans

K&L Gates LLP on

In the wake of the COVID-19 pandemic and the resulting economic uncertainty, many employers and employees alike are searching for ways to be financially prepared in the weeks and months to come. This article highlights some...more

Morgan Lewis

CARES Act Brings Compensation, Benefits, and Payroll Tax Changes

Morgan Lewis on

With broad bipartisan support, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or Act), signed into law by the president on March 27, provides a $2 trillion economic stimulus and contains numerous and...more

Stoel Rives LLP

CARES Act: Funding Relief for Single-Employer Defined Benefit Pension Plans

Stoel Rives LLP on

The Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) signed into law on March 27 by President Trump provides some welcome funding relief for employers who sponsor single-employer defined benefit pension...more

Verrill

With CARES Act, Congress provides retirement plan relief and group health plan changes

Verrill on

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, includes a number of provisions that affect retirement plan sponsors and participants. These provisions are designed to...more

Snell & Wilmer

CARES Act Provides Funding Relief for Single Employer Pension Plans

Snell & Wilmer on

With plan sponsors concerned about cash flow, the Coronavirus Aid, Relief and Economic Security (CARES) Act provides much needed relief by delaying the minimum required contributions for single employer defined benefit plans....more

Troutman Pepper

CARES Act Relief for Retirement Plans

Troutman Pepper on

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law by President Trump on March 27, provides important relief for participants in tax-qualified retirement plans and IRA owners, as well as...more

Foley Hoag LLP

COVID-19 Considerations for Certain Compensation and Employee Benefit Arrangements

Foley Hoag LLP on

As the economic repercussion of the COVID-19 pandemic is becoming increasingly severe, employers should consider its potential impact on the design and administration of various compensation and employee benefit arrangements....more

Holland & Hart - Health Law Blog

CMS Waives Stark Law Limits to Hospital-Physician Arrangements During COVID-19 Pandemic

On March 30, 2020, CMS opened the way for hospitals to provide additional compensation and/or support to referring physicians during the COVID-19 pandemic by waiving the enforcement penalties under the federal Ethics in...more

Skadden, Arps, Slate, Meagher & Flom LLP

CARES Act Provides Payroll Relief and Compensation Restrictions

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) became law on March 27, 2020, providing financial assistance to individuals and businesses impacted by the COVID-19 pandemic, as previously discussed in our...more

Seyfarth Shaw LLP

CARES Act Relief: Defined Contribution Plan Provisions

Seyfarth Shaw LLP on

Seyfarth Synopsis: On March 27, 2020, the House of Representatives followed the Senate’s lead in voting overwhelmingly to pass the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the “Act”), which the President...more

Seyfarth Shaw LLP

CARES Act Relief: Defined Benefit Plans Not Left Out!

Seyfarth Shaw LLP on

Seyfarth Synopsis: On Friday, March 27, 2020, in light of the far-reaching impact of coronavirus, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which includes some relief provisions...more

Dechert LLP

Congress Formulates Retirement-Related and Executive Compensation Provisions for the COVID-19 Stimulus Bill

Dechert LLP on

The Senate yesterday, March 25, 2020, passed by a vote of 96-0 the stimulus bill known as the Coronavirus Aid, Relief and Economic Security Act (the “Act”), which awaits the President's signature. It has been reported that...more

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