News & Analysis as of

Defined Benefit Plans Coronavirus/COVID-19

Fisher Phillips

July 2021: The Top 14 Labor And Employment Law Stories

Fisher Phillips on

It’s hard to keep up with all the recent changes to labor and employment law. While the law always seems to evolve at a rapid pace, there have been an unprecedented number of changes for the past few years—and this past month...more

Williams Mullen

Key Employee Benefit Aspects of the American Rescue Plan Act

Williams Mullen on

The American Rescue Plan Act of 2021 (the ARPA), signed into law by President Biden on March 11, 2021, includes provisions affecting employee benefit plan sponsors. The ARPA provides relief to certain COBRA qualified...more

Jackson Lewis P.C.

American Rescue Plan Act Of 2021: COBRA Subsidy, Pension Funding, And Other Employee Benefit Changes

Jackson Lewis P.C. on

The American Rescue Plan Act of 2021 (ARPA) is the latest federal COVID-19 relief bill, which the President signed into law March 11, 2021. ARPA includes new COBRA continuation coverage election, notice, and subsidy...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

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

Jackson Lewis P.C.

Don’t Miss Out: Deadlines Are Upon Us

Jackson Lewis P.C. on

Deadlines are a large part of employee benefit plan administration. The past 12 – 18 months have contributed to potential confusion about standard deadlines and added new deadlines plan administrators will not want to...more

Carlton Fields

Coronavirus-Related Retirement Plan Distributions, MPPPs, and Governmental 401(a) Plans

Carlton Fields on

Carlton Fields tax attorney Lowell Walters discusses an important issue employers with money purchase pension plans or governmental 401(a) plans should consider before allowing coronavirus-related retirement plan...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

Blake, Cassels & Graydon LLP

Mise à jour n° 2 : Le point sur les régimes de retraite et avantages sociaux pendant la pandémie de COVID-19

Faisant suite à notre Bulletin Blakes du 1er mai 2020 intitulé Mise à jour : Le point sur les régimes de retraite et avantages sociaux pendant la pandémie de COVID-19, nous vous présentons ci-après les points saillants des...more

Morgan Lewis - ML Benefits

The IRS Postpones Tax Day, Again

The IRS has again extended the due dates for certain returns and payments because of the ongoing coronavirus (COVID-19) pandemic. Notice 2020-35, which the IRS issued on May 28, 2020, postpones the due date for certain...more

UB Greensfelder LLP

[Webinar] Benefit Plan Changes in Light of COVID-19 - June 11th, 2:00 pm - 3:00 pm EDT

UB Greensfelder LLP on

The legislative and regulatory changes for employee benefit plans in connection with the COVID-19 pandemic are coming in almost daily, which can make it difficult for employers to determine where to start in addressing these...more

Blake, Cassels & Graydon LLP

Update No. 2: Considerations for Pensions and Benefits During COVID-19

Further to our April 2020 Blakes Bulletin: Update: Considerations for Pensions and Benefits During COVID-19, the following are highlights of subsequent legislative and regulatory updates relevant to COVID-19. This bulletin...more

Jackson Lewis P.C.

IRS Provides Further COVID-19 Relief Related To Postponed Deadlines For Time Sensitive Actions

Jackson Lewis P.C. on

On May 28, 2020, the Internal Revenue Service (IRS) released an advanced version of Notice 2020-35, which amplifies the relief it had previously provided from deadlines for certain time-sensitive actions. The relief offered...more

Groom Law Group, Chartered

IRS Extends More Pension Deadlines For COVID-19

IRS Notice 2020-35 is a follow-on to Notice 2020-23 that provided for a wide range of pension filings and actions that were otherwise due between April 1 and July 14, 2020 that were extended until July 15, 2020. ...more

Hogan Lovells

Pension aspects of the Coronavirus Job Retention Scheme: what employers and trustees should know

Hogan Lovells on

The government's Coronavirus Job Retention Scheme (CJRS) has thrown a lifeline to many employers and to their employees who might otherwise have lost their jobs in the current Covid-19 crisis. For employers taking advantage...more

Blake, Cassels & Graydon LLP

Blakes Continuity Podcast: COVID-19: The Regulatory Impact on Pensions

Pension regulators across Canada are adjusting their policies in light of the COVID-19 pandemic. Blakes pension lawyers Lindsay McLeod, Adam Ngan and Sean Maxwell demystify the implications of the steps that federal and...more

Blake, Cassels & Graydon LLP

Update: Considerations for Pensions and Benefits During COVID-19

Further to our March 2020 Blakes Bulletin: Considerations for Pensions and Benefits During COVID-19, the following are highlights of subsequent legislative and regulatory updates relevant to COVID-19. This bulletin...more

Verrill

Employee Layoffs May Vest Retirement Plan Benefits

Verrill on

Increasing numbers of employers are being forced to shutter places of business and lay off workers as the coronavirus pandemic continues. When laid off workers are participants in their employer’s qualified retirement plan,...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

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

Can I Get an E-Witness? Retirement Plan Consents in the Age of Social Distancing

As the world faces the ongoing threat of the coronavirus pandemic, pension plan administration is often taking place from remote working locations. Prospective retirees and their spouses may increasingly find themselves in...more

Groom Law Group, Chartered

Corporate Pensions in Turbulent Economic Times: An Overview of Key Issues and Options for Plan Sponsors

Employers are facing a number of serious challenges that make managing a defined benefit pension plan even more difficult than usual. ...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

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