News & Analysis as of

Retirement Plan

Hunting For Retirement Plan Participants? New IRS Guidance And The Expanded PBGC Missing Participants Program Should Help

by Fox Rothschild LLP on

Plan administrators might feel it is the participant’s responsibility to keep a plan administrator informed of their address changes; however, it is the view of the Department of Labor (DOL) that a plan administrator’s...more

Littler Global Guide - Germany - Q4 2017

by Littler on

Strengthening of Company Pension - Only around 60% of employees in Germany have a company pension plan, which they use to provide for retirement in addition to the statutory pension. This is set to change from January 1,...more

No More Delays! New Disability Claims Rules to Take Effect April 2, Says DOL

On April 2, 2018, significant changes to ERISA’s disability claims procedures will take effect. These new rules will require all ERISA-covered plans which provide disability benefits to make significant modifications to the...more

Puerto Rico Department of the Treasury Announces 2018 Limits on Qualified Retirement Plans

by Littler on

On December 15, 2017, the Puerto Rico Department of the Treasury (the “PR Treasury”) issued Tax Policy Circular Letter No. 17-02 (“CL 7-02”) announcing the 2018 applicable contribution limits for qualified retirement plans....more

Plan Sponsors and Service Providers Must be Aware of Changes Made to Rules Pertaining to Puerto Rico Qualified Retirement Plans

by Littler on

Recent changes to Puerto Rico’s tax treatment of certain retirement plans have taken effect. Act No. 106 of August 23, 2017 (“Act 106”) amended Section 1081.01 of the Puerto Rico Internal Revenue Code as amended, (the “PR...more

2018 Limits Announced for Benefits and Other Tax Provisions

Members of Saul Ewing Arnstein & Lehr’s Tax and Employee Benefits and Executive Compensation Practices have outlined the recently announced 2018 dollar limits on the Social Security Wage Base, compensation and deferrals for...more

Seventh Circuit Says: Clear Error Standard Applies To Court Review Of Withdrawal Liability Arbitrator’s CBA Interpretation

by Seyfarth Shaw LLP on

Seyfarth Synopsis: The Seventh Circuit has now applied a clear error standard of review to a withdrawal liability arbitrator’s interpretation of a collective bargaining agreement, thus enhancing the role of the arbitrator in...more

Did Santa Give the Insurance Industry a Lump of Coal or a Diamond in the Rough? The Proposed Suitability and Best Interest...

by Carlton Fields on

As reported in our November 28 client alert, the National Association of Insurance Commissioners’ (NAIC) Annuity Suitability Working Group (Suitability WG) circulated the proposed Suitability and Best Interest Standard of...more

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation Q&A #4 - Q&As on Annuity Sales Practices,...

by Carlton Fields on

For the past several months, we have written about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. This article continues that discussion. ...more

A New Announcement Ends The Uncertainty About When The New Disability Claims Procedure Requirements Will Become Effective, And...

The United States Department of Labor (“DOL”) issued regulations in 2016 that made significant changes in the claims procedure requirements for employee benefit plans covered by the Employee Retirement Income Security Act...more

Class action lawsuit isn’t the only fear

by Ary Rosenbaum on

Plan sponsors will say it all the time: they are too small to be sued in a class action lawsuit. That may be true, but a class action lawsuit isn’t the only thing to fear....more

Court Held That Retirement Benefits Belonged To The Worker’s Sister, Who Was Designated Beneficiary, And Not The Wife

by Winstead PC on

In Estate of Gibson, a man named his sister as the beneficiary of his retirement plan in 1989. No. 06-17-00059-CV, 2017 Tex. App. LEXIS 9963 (Tex. App.—Texarkana October 13, 2017, no pet.)....more

New Year’s Resolution #5: Four Employee Benefits Resolutions for 2018!

Happy New Year! It’s that time when we all vow to better ourselves in the months ahead. Resolutions abound, and they need not be limited to individual self-improvement. Employers too have many opportunities for betterment in...more

2017 was a banner year for 401(k) plans

by Ary Rosenbaum on

An analysis by the Employee Benefit Research Institute (EBRI) shows that 2017 was a banner for 401(k) plan account balance. The analysis found that the average account balance for younger (25-34), less tenured (1-4 years)...more

Tax reform will affect 401(k) deferrals

by Ary Rosenbaum on

While the tax reform talks didn’t do much to negatively impact 401(k) plans. Mark my words: the elimination of certain deductions will negatively impact the amount of deferrals that people will be able to put in their 401(k)...more

Tax Cuts and Jobs Act – Impact on Employee Benefit Plans

by Sherman & Howard L.L.C. on

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (the “Act”) into law. While the Act is extensive, this Advisory discusses only the changes made to employee benefits such as qualified retirement plans,...more

IRS Issues Changes to Voluntary Compliance Program User Fees

by Robinson & Cole LLP on

On January 2, 2018, the Internal Revenue Service(IRS) issued Internal Revenue Bulletin 2018-1, containing Internal Revenue Procedure 2018-4, which includes new user fees for submissions under the Voluntary Correction Program...more

DOL’s New Disability Plan Claims Regulations To Become Effective

by Seyfarth Shaw LLP on

The Department of Labor’s new regulations governing disability claims and appeals published on December 19, 2016 will go into effect on April 1, 2018, as announced by the DOL on January 5, 2018. ...more

President Trump Signs Tax Reform Bill into Law

On December 15, 2017, the House and Senate conference committee agreed on the terms of the final tax reform bill, previously referred to as the “Tax Cuts and Jobs Act” (the “Act”), which was subsequently approved by both...more

IRS Modifies Voluntary Compliance Program Fees for Qualified Retirement Plans

by Ballard Spahr LLP on

The IRS has announced that it has made substantial modifications to the fee structure applicable to voluntary compliance program (VCP) applications for the correction of compliance defects in tax-qualified retirement plans,...more

Changes in the Tax Cuts and Jobs Act of 2017 that Impact Individual Taxpayers for Non-Business Items

by Stinson Leonard Street on

The Tax Cuts and Jobs Act of 2017 makes substantial changes to the income taxes of individuals. The Act's individual changes noted in the attached chart generally expire on January 1, 2026, and the speculation will...more

Much Ado About (Almost) Nothing?

by Foley & Lardner LLP on

Impact of Tax Reform on Employer-Provided Retirement, Welfare, and Fringe Benefits - The recently enacted Tax Cuts and Jobs Acts (the “Tax Reform Act”) made significant changes to the Internal Revenue Code. Although there...more

Tax Cuts and Jobs Act of 2017

by Cohen & Grigsby, P.C on

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (the “TCJA”), the most comprehensive tax reform passed in decades. The majority of the changes in the TCJA affect individual and corporate income...more

Section 162(m) After the Tax Cuts and Jobs Act: What to Do Now

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (the Act), which includes significant changes to the executive compensation deduction rules in Section 162(m) of the Internal Revenue Code (Code)...more

The Impact of the Tax Cuts and Jobs Act on Employee and Fringe Benefits

The Tax Cuts and Jobs Act makes some notable, though targeted, changes to the employee benefits landscape. We summarize some of the more significant changes in the Question and Answers set out below....more

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