Under the Bipartisan Budget Act of 2015 (“BBA 2015”), Pension Benefit Guaranty Corporation (“PBGC”) premiums for plan years beginning in 2025 are due one month earlier than normal. For example, for calendar year plans,...more
In a defined benefit plan, participants usually accrue a monthly benefit based on a formula that typically considers their last three years’ salary before retirement and years of service with their employer. For example, the...more
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 Thursday, December 19, the Senate passed two spending bills to fund the government through September 30, 2020, one of which (H.R. 1865, the “Further Consolidated Appropriations Act of 2020” or the “Act”) contains the...more
Employer-sponsored retirement plans come in many varieties. For example, under 401(k) and other defined contribution plans, employees and, often, employers may make specific contributions to an employee’s plan account...more
On Monday, President Obama signed into law a two-year bipartisan budget deal that has several implications for employers. The Bipartisan Budget Act of 2015 (H.R. 1314) suspends the debt ceiling limit until March 2017, and...more
Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties. To avoid such...more
Editor's Overview - As the summer draws to a close, this month's Newsletter previews three cases that the U.S. Supreme Court already has agreed to hear that ought to be of particular interest to ERISA plan sponsors and...more
Major Revisions to Qualified Plan Determination Letter Process Announced - Effective January 1, 2017, the staggered five-year determination letter remedial amendment cycles for individually designed plans will be...more
The U.S. Department of Labor (DOL) issued final rules for the annual funding notice requirements of section 101(f) of ERISA. Plan administrators of defined benefit pension plans that are subject to the PBGC’s insurance...more