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 July 6, the Pension Benefit Guaranty Corporation (PBGC) issued the Final Rules (Final Rules) implementing the Special Financial Assistance Program (SFA) enacted by Congress as part of the American Rescue Plan Act of 2021...more
The recently published final regulation implementing last year’s massive multiemployer pension plan bailout contains a very thin silver lining, but overall, more bad news for already overburdened employers....more
Although variable annuity pension plan (VAPP) designs have been permissible for decades, they have not yet seen widespread adoption—particularly in the Taft-Hartley multiemployer plan space. This post provides a brief...more
Multiemployer pension plans are collectively bargained defined-benefit employee benefit plans that are funded by several unrelated employers for the benefit of unionized employees. In recent years, the crisis of significantly...more
Many employers in the retail, construction, service, entertainment, manufacturing and transportation industries contribute to multiemployer defined benefit pension plans (MEPs) on behalf of their unionized employees. A large...more
I rarely talk about legislation because so many bills over the years get proposed with zero action by Congress. It took more than 4 years for Roth 401(k) plans to be a thing. However, I want to take time to talk about...more
If you’re a small employer with a 401(k) plan, you might save some money and provide a more professional level of administrative support by joining a Pooled Employer Plan (PEP). Unrelated employers have always been able to...more
Pepper Hamilton partner Paul L. Porretta and Troutman Sanders partner Mamta K. Shah recently hosted a webinar to discuss the Setting Every Community Up for Retirement Enhancement Act of 2019, better known as the SECURE Act,...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
On November 20, Republican Senators Charles Grassley and Lamar Alexander – chairmen of the committees with jurisdiction over pensions – jointly released the Multiemployer Pension Recapitalization and Reformation Plan (the...more
Americans are facing a retirement crisis. The foundation for building a secure retirement — Social Security, employer-provided pensions, and personal savings — has been weakened because most private sector companies no longer...more