News & Analysis as of

Retirement Plan Employee Benefits Hurricane Harvey

Patterson Belknap Webb & Tyler LLP

Additional Hurricane Relief for Retirement Plan Participants Makes Landfall

On September 29, 2017, the Disaster Tax Relief and Airport and Airway Extension Act of 2017 (the “Act”)1 was signed into law to provide aid to victims who are recovering from the recent hurricanes in August and September...more

Kilpatrick

Hurricane Relief Legislation for Retirement Plans

Kilpatrick on

We addressed hurricane relief for retirement plans offered by the IRS and other agencies in previous blog posts While the IRS relief allows for easier access to retirement funds on account of losses due to the recent...more

Proskauer Rose LLP

ERISA Newsletter - Third Quarter 2017

Proskauer Rose LLP on

Editor's Overview - As we have observed on other occasions, the ERISA class action plaintiffs' bar has, for several years now, honed in on 401(k) plan fiduciaries and their decisions to select and retain investment options...more

Patterson Belknap Webb & Tyler LLP

IRS Relaxes Rules for Plan Loans and Hardship Distributions for Hurricane Harvey and Hurricane Irma Victims

The IRS announced (through the two announcements 2017-11 and 2017-13) relief for victims of Hurricane Harvey, which struck Texas and surrounding areas in August 2017, and victims of Hurricane Irma, which struck Florida and...more

Robinson & Cole LLP

Special Rules for Plans due to Hurricane Irma

Robinson & Cole LLP on

On September 12, 2017, the Internal Revenue Service (IRS) issued Announcement 2017-13, which provides guidance on the ability of qualified plans to provide plan loans and hardship distributions to people in Florida affected...more

Carlton Fields

Retirement Plan and Leave Donation Programs During States of Emergencies

Carlton Fields on

This article should interest employers offering retirement plan benefits or leave donation programs to employees affected by Hurricanes Harvey and Irma, in particular, and in various states of emergencies, in general. It...more

Pillsbury Winthrop Shaw Pittman LLP

Internal Revenue Service Provides Helpful Relief to Hurricane Victims

Announcement 2017-11 (Announcement) provides that a tax-qualified employer retirement plan may treat a distribution to a current or former employee covered by the Announcement as on account of hardship or an unforeseeable...more

Bracewell LLP

Hurricane Harvey Relief for Employees

Bracewell LLP on

Following Hurricane Harvey and its resulting destruction, many employees are in need of financial assistance and/or early access to retirement funds. We will highlight how employers can make direct financial assistance...more

McAfee & Taft

IRS announces special relief to help victims of Hurricane Harvey

McAfee & Taft on

Last week the IRS announced that 401(k) plans and certain similar employer-sponsored retirement plans can make loans and hardship distributions to help victims of Hurricane Harvey....more

Jackson Walker

IRS Provides for Expedited Loans and Hardship Distributions from Retirement Plans

Jackson Walker on

The IRS announced last week that it will allow victims of Hurricane Harvey and their families to more easily access assets held in employer-sponsored retirement plans. Specifically, the IRS will allow certain retirement plans...more

Seyfarth Shaw LLP

IRS Allows Employees to Donate the Value of PTO for Hurricane Harvey Victims

Seyfarth Shaw LLP on

Seyfarth Synopsis: The IRS has announced a program that allows employees to donate the value of their vacation, sick time, or other paid time off (“PTO”) for the relief of victims of Hurricane or Tropical Storm Harvey. ...more

Seyfarth Shaw LLP

IRS and DOL Provide Relief for Plan Sponsors and Participants Affected by Hurricane Harvey

Seyfarth Shaw LLP on

The Internal Revenue Service (IRS) and Department of Labor (DOL) issued temporary relief on deadlines and procedural requirements applicable to employee benefit plans for employers impacted by Hurricane Harvey. ...more

Ballard Spahr LLP

IRS Eases Rules for Plan Loans and Hardship Distributions After Hurricane Harvey

Ballard Spahr LLP on

The IRS has released Announcement 2017-11 to provide relief to taxpayers from requirements for loans and hardship distributions for participants of qualified retirement plans who have been adversely affected by Hurricane...more

Winstead PC

First Round of Hurricane Harvey Relief Guidance

Winstead PC on

No good deed goes unpunished and as soon as I hit send on the last alert on Hurricane Harvey relief, three more pieces of relief guidance relevant to employers and their employee benefit plans were released. The Internal...more

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