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Littler

July is Still the New January! Littler’s Workplace Policy Institute’s Mid-Year Legislative Report

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Hot off the press – here is Littler’s mid-year report!  As federal regulators, states and cities continue to pass new workplace regulations through the calendar year, we summarize each state’s notable labor and employment law...more

Verrill

Retirement Plans: What Categories of Employees may be Excluded?

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We are often asked about the permissibility of excluding certain categories of employees from participating in an employer’s tax-qualified retirement plan. This post provides a high-level summary of what is and is not...more

McDermott Will & Emery

[Webinar] Employee Benefits Changes in 2024: New Requirements for Part-time Employees and Independent Contractors - March 7th,...

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If you employ part-time workers and/or engage independent contractors, sit up and take note: 2024 will bring significant changes to how you manage your workforce. The US Department of Labor’s revised Independent Contractor...more

Holland & Hart - The Benefits Dial

You Live, You Learn… Correcting “Qualification Failures” under the Self-Correction Program

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The Employee Plans Compliance Resolution System (“EPCRS”), as set forth in Revenue Procedure 2021-30, allows plan sponsors to correct “Qualification Failures,” which are defined as any plan document, operational, demographic...more

Morgan Lewis

IRS Proposes Long-Term, Part-Time Employee Regulations

Morgan Lewis on

On November 24, 2023, the Internal Revenue Service (IRS) proposed long-awaited regulations providing guidance on the required coverage of long-term, part-time employees (LTPTEs) under the Setting Every Community Up for...more

Troutman Pepper

Long-Term Part-Time Employee Eligibility Rules Now in Effect – Are You Ready?

Troutman Pepper on

The Setting Every Community Up for Retirement Enhancement Act (SECURE 1.0) requires plans to permit employees who work at least 500 hours but less than 1,000 hours in three consecutive 12-month periods to make elective...more

McDermott Will & Emery

When It Comes to Vesting, IRS Says Once a Long-Term, Part-Time Employee, Always a Long-Term, Part-Time Employee

McDermott Will & Emery on

In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces. Under the SECURE...more

McDermott Will & Emery

New Rules Make Tracking Long-Term, Part-Time Employee Service a Full-Time Job

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In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces. Under the SECURE...more

McDermott Will & Emery

IRS Confirms Same Hours-Counting Rules Still Add Up for Long-Term, Part-Time Employees

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In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces. Following the...more

McDermott Will & Emery

A Long-Term, Part-Time Employee or Not a Long-Term, Part-Time Employee, That Is the Question

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In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces. Under the SECURE...more

McDermott Will & Emery

A Long-Term, Part-Time Employee or a Former Long-Term, Part-Time Employee, That Is the Question

McDermott Will & Emery on

In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces. Under the SECURE...more

McDermott Will & Emery

IRS Says Keep Those Class Exclusions Classy Under Long-Term, Part-Time Employee Rules

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In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces. Together, the...more

Fisher Phillips

Workplace Law Forecast 2024 - Your workplace law recap for 2023 and predictions for 2024 to help you prepare for the coming year.

Fisher Phillips on

When I reflect on the relationship that our firm has with our clients, I’m most proud of the fact that you can always count on us. That often means defending complex litigation, steering you through regulatory threats,...more

Haynsworth Sinkler Boyd, P.A.

Can employers face liability when a cyber-attacker steals funds from an employee's individual 401(k) account?

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Retirement plans face increased risks for cyber-attacks resulting in theft of plan assets. Few entities can keep up with the pace set by cyber-criminals for theft from accounts, and security requirements for industries...more

Bradley Arant Boult Cummings LLP

SECURE 2.0: Retirement Plan Changes for 2024

Bradley Arant Boult Cummings LLP on

The SECURE 2.0 Act of 2022 sets forth a number of changes affecting retirement plans that go into effect over several years. This article focuses on key changes for 2024 that may be implemented....more

Faegre Drinker Biddle & Reath LLP

Another 401(k) Plan Fiduciary Defeats Breach of Fiduciary Duty Claims at Trial

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Following a bench trial in a Pennsylvania federal district court in Nunez v. B. Braun Medical, Inc., 401(k) plan fiduciaries defeated a lawsuit alleging that the fiduciaries imprudently managed and paid excessive...more

Foley & Lardner LLP

Diving Into SECURE 2.0: Expanding Access to 401(k) Plan Savings for Long-Term Part-Time Employees

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The SECURE 2.0 Act of 2022 (SECURE 2.0) significantly changes the legal and administrative compliance landscape for U.S. retirement plans. Foley & Lardner LLP is authoring a series of articles that take a “deep dive” into key...more

Verrill

New Options for Retirement Plan Distributions Under SECURE 2.0

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This post summarizes the new distribution options, including penalty-free withdrawals, applicable to defined contribution plans under the SECURE 2.0 Act of 2022 (“SECURE 2.0”) and provides a timeline of their effective dates....more

Verrill

Alternatives for Sponsors of Defined Benefit Pension Plans

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For decades, it was common for employers to maintain employer-funded defined benefit pension plans (“DB Plans” or “Plans”) to provide retirement benefits to their employees. In recent years, DB Plans have become increasingly...more

Holland & Hart - The Benefits Dial

Easy Money…Self-Certify Your Hardships Away

Holland & Hart - The Benefits Dial on

If a 401(k) or 403(b) plan permits employees to take in-service hardship withdrawals in the event of an immediate and heavy financial need, new legislation provides that, effective for plan years beginning in 2023, employers...more

McDermott Will & Emery

SECURE 2.0 Takes Second Bite at Retirement Security

McDermott Will & Emery on

The US Congress recently passed the SECURE 2.0 Act of 2022 (SECURE 2.0). Building on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 (SECURE 1.0), SECURE 2.0 strives to expand retirement plan...more

Mintz - Employment Viewpoints

Expanding Coverage and Increasing Retirement Savings with the SECURE 2.0 Act

Mintz - Employment Viewpoints on

Congress has passed long-awaited retirement legislation under Division T of the Consolidated Appropriations Act of 2023 known as the SECURE 2.0 Act of 2022 (the “Act”), which awaits the President’s signature. The Act is a...more

Fisher Phillips

Reducing Your 401(k) Litigation Risks – 10 Questions Employers Need to Ask ASAP

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Here’s the scenario: Your company has had a 401(k) plan for the past 25 years. Employees appreciate the retirement benefit, and it seems to be operating well with very few questions or concerns from your employees. You’re...more

Perkins Coie

September Tip of the Month: Employers With California Employees Must Ensure CalSavers Retirement Program Compliance

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Employers who do not sponsor a qualified retirement plan, such as a 401(k) plan, and have at least five employees in California must be sure to promptly enroll in California’s CalSavers program....more

Williams Mullen

[Event] Benefits Forum 2022: Retirement Plans - Risks, Rewards & What's Ahead - September 22nd, Richmond, VA

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This hybrid event offers two options for attendance: in-person or webinar. Both options will have an interactive experience and SHRM credit, so choose the method that works best for you. Topics include: > SECURE Act...more

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