News & Analysis as of

Defined Benefit Plans Relief Measures

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

Seriously Underfunded Multiemployer Defined Benefit Pension Plans - Relief Finally Arrives

We had pondered when this day would come. The doomsday scenario that the Pension Benefit Guaranty Corporation (PBGC) would become insolvent in five to six years is now old history. (The new estimated time of PBGC insolvency...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

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

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

Seyfarth Shaw LLP

IRS Provides Additional COVID-19 Relief: Plan Adoption Deadlines Extended

Seyfarth Shaw LLP on

Seyfarth Synopsis: Several deadlines established by the IRS to adopt amendments or restatements to employer-sponsored retirement plans, and in this instance specifically, to 403(b) plans maintained by tax-exempt entities and...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

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