News & Analysis as of

Penalties Retirement Plan

Flaster Greenberg PC

Compliance Alert: RetireReady NJ Program Coming Soon

Flaster Greenberg PC on

The State of New Jersey is making a state-administered retirement savings program available to eligible workers who do not have qualifying retirement savings plans through their employer. This is an innovative approach to...more

Kohrman Jackson & Krantz LLP

IRS Extends Pause on RMD Penalties for Inherited IRAs

Hard-working Americans spend a lifetime trying to obtain financial stability and to then provide a financial legacy for their families. Often, the strategy to achieve such goals involves the funding of individual retirement...more

Proskauer - Employee Benefits & Executive...

IRS Opens Determination Letter Program to Individually Designed 403(b) Plans

On October 21st, the IRS announced changes to its qualified plan determination letter program. Most notably, the program has been expanded to include section 403(b) tax-sheltered annuity plans (“403(b) plans”). Although...more

Proskauer - The Capital Commitment

2022 SEC Enforcement Results – Takeaways for Fund Managers

Yesterday the SEC’s Division of Enforcement announced its Enforcement Results for Fiscal Year 2022, and there are a few key takeaways for fund managers. The Commission brought 760 total enforcement actions in FY 2022,...more

Jones Day

Pension Schemes Act 2021: Implications for the UK's Rescue Culture

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In recent years, the UK Government's approach to insolvency and restructuring has been to promote a stronger rescue culture whereby companies have a better opportunity of being restructured and rescued on a going-concern...more

Saul Ewing LLP

2021 Limits Announced

Saul Ewing LLP on

Federal agencies recently announced cost-of-living adjustments on Social Security taxable earnings and maximum benefits, limits on compensation and deferrals for retirement plans, and limits on health and welfare plans....more

Hogan Lovells

New offences, penalties and powers for the Pensions Regulator: what employers and trustees should know

Hogan Lovells on

As expected, following the general election the new government has reintroduced the Pension Schemes Bill and is taking forward changes consulted on in 2018. The Bill will significantly increase the Pension Regulator's powers...more

Groom Law Group, Chartered

SECURE Act Requires Immediate Action by Plan Service Providers

Congress recently passed the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade.  Many of the provisions in the SECURE Act...more

Groom Law Group, Chartered

Year-End Challenges and Opportunities: Congress Passes SECURE Act, Caddy Tax Repeal, and 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

Faegre Drinker Biddle & Reath LLP

Congress (Finally) Passes the SECURE Act

After a delay of several months, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act, clearing the way for one of the most substantial pieces of retirement plan legislation in years to...more

Holland & Knight LLP

Summary Plan Descriptions Required for All ERISA Retirement, Health and Welfare Plans

Holland & Knight LLP on

• Administrators of all employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) should ensure their plans' compliance with ERISA's Summary Plan Description (SPD) requirement. •...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Furnish those documents to Plan Participants or Pay Through The Nose

Plan sponsors should understand that under ERISA, plan participants are entitled to certain disclosures and documents. We should all know that a participant is entitled to the summary plan description, summary annual report,...more

Adler Pollock & Sheehan P.C.

Arrange your RMDs before year end

Per IRS rules, people must begin taking required minimum distributions (RMDs) from their retirement plans and IRAs beginning April 1 of the year after the year in which they turn age 70½. And they must continue taking RMDs...more

Pillsbury Winthrop Shaw Pittman LLP

Proposed Section 409A Regulations Facilitate Common Pay Practices

The Internal Revenue Service (IRS) has proposed a number of updates to current regulations governing nonqualified deferred compensation under Section 409A of the Internal Revenue Code of 1986, as amended. The proposed updates...more

Chambliss, Bahner & Stophel, P.C.

Avoiding Pitfalls When Forced to Start Breaking Your Retirement Piggy Bank

The oldest of the 75 million baby boomers have begun turning 70 in 2016. Becoming a septuagenarian is a milestone in itself, but it also means that soon the IRS will likely be expecting you to start cashing out your...more

Gray Reed

Employee Benefits – Do Employers Owe a 401(k) Fiduciary Duty?

Gray Reed on

Back in July, we discussed how Jed Clampett of Mama’s Fried Pies caused his VP of marketing Elly May to suffer exorbitant taxes due to a deferred bonus that he offered.  This month, Jed finds himself again in the grease with...more

King & Spalding

March and April 2014 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

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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 and excise taxes. To...more

King & Spalding

November and December Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

King & Spalding on

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 and excise taxes. To...more

Saul Ewing LLP

The Seven Ages of Retirement

Saul Ewing LLP on

Important decisions in planning retirement income and expenses can be made at seven ages, and the decisions made at those ages can have a substantial effect on the quality of retirement....more

King & Spalding

May and June Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

King & Spalding on

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 and excise taxes. To...more

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