The SECURE Act: Significant Changes for Retirement Plans and IRAs
Videocast: Asset management regulation in 2020 videocast series – DOL: What’s ahead
The Department of Labor (DOL) announced that it has finalized, together with the Internal Revenue Service (IRS) and Pension Benefit Guarantee Corporation (PBGC), the third and final round of revisions to the Form 5500 Annual...more
On December 29, 2022, President Biden signed into law the long-awaited Secure Act 2.0 of 2022 (Secure Act 2.0 or the Act), adding another round of major retirement plan changes to those made by the first Setting Every...more
The Department of Labor (DOL) announced changes to Form 5500. For Multiple Employer Plans (MEPs), new codes have been added to Line 8a of Part II to identify different types of MEPs, such as pooled employer plans,...more
The Department of Labor’s Employee Benefits Security Administration (EBSA) released their final revisions to the Form 5500 and the Form 5500-SF Short Form Annual Return/Report of Small Employee Benefit Plan for the 2021 plan...more
The US Department of Labor (DOL) issued a final regulation (Final Rule) on December 29, 2021, updating the 2021 Form 5500 to reflect certain statutory changes included in the Setting Every Community Up for Retirement...more
I'm a big fan of business history when it comes to brilliant business moves, as well as some pretty awful ones. In terms of bad business decisions, I always find it amusing when I can spot one when it's made and I could see...more
I love Las Vegas and the last two times I was there; I didn’t gamble a nickel. I hate gambling because I hate to lose. For me, getting up in the morning is a big enough gamble. A lot of plan sponsors gamble when they...more
As everyone is gearing for the January 1, 2021 implementation of pooled employer plans (PEPs), I keep on insisting that this won’t be the game-changer that everyone hopes. I think PEPs are a great idea, it finally...more
Seyfarth Synopsis: A key component of the SECURE Act, passed at the end of 2019, was the expansion of opportunities to combine the 401(k) plan assets of multiple unrelated employers. ...more
Over the next year, the Department of Labor (DOL) will likely be issuing guidance in a number of areas that could impact asset managers and financial services companies. In this Bottom Line videocast, Carol McClarnon and...more
On December 20, 2019, federal legislation approving spending limits for the 2020 fiscal year was signed into law. Included in the legislation is the Setting Every Community Up for Retirement Enhancement Act of 2019 (the...more
While the Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) and its promise of truly open multiple employer plans (MEPs) sat with the Senate this summer, the US Department of Labor (DOL) and Internal...more
Soft Deadline for Wage/Hour Data Submission? September 30, 2019, was the deadline for employers to submit EEO-1 Component 2 wage and hour data for 2017 and 2018. Or was it?...more
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
On July 24, 2019, the Department of Labor (the “DOL”) issued Field Assistance Bulletin 2019-01 (the “Bulletin”), which provides transition relief to multiple employer plans (“MEPs”) that failed to comply with certain annual...more
On July 29, 2019, the Department of Labor issued final rules clarifying when an employer group or association, or professional employer organization (“PEO”) may sponsor a defined contribution multiple employer retirement plan...more
The DOL’s newly released final regulation on “Association Retirement Plans” (ARPs) will make it easier for groups and associations of employers to jointly sponsor a combined 401(k) or other defined contribution plan. (These...more
• The U.S. Department of Labor (DOL) has published its Final Rule clarifying the circumstances under which an employer group or association or a professional employer organization (PEO) could sponsor a multiple-employer...more
Wage and Hour Rulemaking News. June 12, 2019, was the deadline for submission of public comments in response to the U.S. Department of Labor’s Wage and Hour’s Division’s (WHD) proposed changes to clarify what forms of payment...more
The House recently passed the most significant piece of proposed retirement plan legislation in more than a decade: the SECURE Act. Although the Senate must also approve the bill before it becomes law, its proposed changes...more
In the last three weeks, the Department of Labor (DOL) undertook two initiatives that have the potential to improve the efficiency of the retirement system and the retirement security it provides to US workers. ..The first...more
On October 23, the Department of Labor (“DOL”) published a proposed rule intended to make it easier for small businesses to join together to offer employee retirement benefits through defined-contribution Association...more
Following closely along the path blazed by the new Association Health Plan (AHP) rules (see our detailed advisories here and here), the Department of Labor (DOL) has issued proposed regulations to allow multiple employers to...more
Six years ago, the Department of Labor (DOL) pretty much killed off what we called Open Multiple Employer Plans (MEPs) by saying that MEPs, where there was no commonality between adopting employers, wouldn’t be considered a...more
On August 31, 2018, President Trump signed an executive order authorizing the U.S. Department of Labor (DOL) and the U.S. Department of the Treasury to evaluate expanding access to 401(k) retirement plans. The order is...more