PODCAST: Williams Mullen's Benefits Companion - New IRS Guidance on SECURE 2.0 Act Student Loan Employer Contributions
PODCAST: Williams Mullen's Benefits Companion - ERISA Forfeiture Litigation
La Reforma Pensional en Colombia
PODCAST: Williams Mullen's Benefits Companion - Understanding Lifetime Income Products
Multiemployer Pension Plans in Mergers and Acquisitions — Troutman Pepper Podcast
PODCAST: Williams Mullen's Benefits Companion - Trends in Recordkeeper Consolidation and Due Diligence
Long-Term Part-Time Employee Eligibility Rules Now in Effect — Troutman Pepper Podcast
PODCAST: Williams Mullen's Benefits Companion - What the J&J Case Means for Plan Administrators
#WorkforceWednesday: SECURE 2.0 Act - Navigating New Retirement Plan Provisions in 2024 - Employment Law This Week®
PODCAST: Williams Mullen's Benefits Companion - SECURE 2.0: Leveraging Opportunities Employees Want Most
What Can A Tax Attorney Do For You? A Podcast With Janathan Allen
PODCAST: Williams Mullen's Benefits Companion - Understanding Fees in Retirement Planning
PODCAST: Williams Mullen's Benefits Companion - ESG Investing by Retirement Plans
PODCAST: Williams Mullen's Benefits Companion - New Federal Rule Aims to Hold Investment Advisors to a Higher Standard
Employee Benefits and Executive Compensation: Getting Ready for 2024 - Health and Welfare Plan Developments — Special Edition Podcast
Employee Benefits and Executive Compensation: Getting Ready for 2024 - Qualified Plans — Special Edition Podcast
PODCAST: Williams Mullen's Benefits Companion - Auto-Portability: A New Way to Keep Retirement Savings Growing
PODCAST: Williams Mullen's Benefits Companion - IRS 2024 Health Plan Affordability Threshold May Put Some at Risk
PODCAST: Williams Mullen's Benefits Companion - Partial Plan Terminations
PODCAST: Williams Mullen's Benefits Companion - Virginia Launches New Retirement Savings Program
Beginning this year, plan sponsors may increase their qualified plan’s mandatory cash-out limit from $5,000 to $7,000. The increase was enacted by SECURE 2.0, and applies to distributions made after December 31, 2023....more
It’s that time of year again when calendar year 401(k) plans must send annual retirement plan notices. As you work with your service providers to make sure all notices are sent, now may be a good time to reacquaint yourself...more
The next installment of our updates on SECURE 2.0 is on another new in-service withdrawal option. SECURE 2.0 allows plan sponsors of defined contribution plans to amend their plans to allow plan participants who are victims...more
As an ERISA attorney who drafts plan documents at a flat fee, my biggest competitors are not other ERISA attorneys, but third-party administration (TPA) firms. ...more
The IRS has extended the deadline for plan sponsors of qualified retirement plans and IRAs to make amendments under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Taxpayer Certainty and...more
The IRS on Aug. 3, 2022, issued Notice 2022-33, which extends the deadlines for qualified retirement plans, 403(b) plans and governmental retirement plans (including 457(b) plans) to adopt amendments reflecting certain...more
It’s been happening a lot lately: a plan sponsor with several participating employers, not realizing that participation agreements for some of these employers weren’t done. This is just a silly mistake to make....more
Every six years, all preapproved defined contribution retirement plans (such as 401(k) plans) must be restated in new plan documents that have fresh approval from the Internal Revenue Service (IRS). The deadline to adopt the...more
Employers that provide 401(k) and other defined contribution retirement plans to their employees on plan documents that have been “pre-approved” by the Internal Revenue Service (IRS) must sign updated documents by July 31,...more
Background - Back in 2013, the IRS opened its first 6-year cycle of reviewing and issuing opinion letters on 403(b) pre-approved documents. Most of the approval letters for that first set of plans were issued to the...more
Being a plan sponsor is a tough job and the amount of paperwork that goes with it can be overwhelming. The paperwork includes plan documents, summary plan descriptions, amendment, valuations, trusts statements, and payroll....more
Employers using pre-approved plan documents for their defined contribution retirement plans, such as 401(k) plans, should carefully review restated adoption agreements and basic plan documents that may be issued by their...more
The Internal Revenue Service (IRS) in their January 20, 2021 edition of Employee Plans News opined that pre-approved qualified retirement plan documents may be used to establish arrangements known as pooled employer plans or...more
Being an ERISA attorney for a couple of third-party administration (TPA) firms when I first started helps you develop a sense of humor because there are too many people I was associated with who had absolutely zero training...more
When it comes to retirement plan servicing arrangements for most public agencies, there are basically two flavors: bundled and unbundled. It is important for public plan sponsors and plan fiduciaries to understand the...more
As employers consider the financial impact of COVID-19, some are considering eliminating employer contributions to 401(k) and 403(b) plans. Notice 2020-52 addresses many employer concerns regarding mid-year amendments to safe...more
Based on numerous requests for plan documents from public agency clients, we know that many cannot find complete sets of their historical and current retirement plan documents that are properly authorized, signed and dated....more
Retirement plans with more than 100 participants require a CPA audit for their Form 5500. However, small plans with less than 100 participants may sometimes require an audit. This often happens when more than 5% of the Plan’s...more
Seyfarth Synopsis: Recently a “whistleblower” leaked that the IRS had internally announced an upcoming modification to the very popular voluntary correction program (“VCP”) that would have been a significant disincentive for...more
Most blog entries focus on new developments or recent legislation. This one’s a bit different. Its subject matter, fiduciary responsibility, is as old as ERISA itself. In today’s environment of increased litigation risks for...more
In a recent Chief Counsel General Advice Memorandum (“Memo”), the IRS provides a helpful reminder that basic recordkeeping and organization techniques can avoid significant tax liability for employers and employees in the...more
Seyfarth Synopsis: In a recent Chief Counsel Memorandum (“CCM”), the IRS stated that on audit, agents should pursue plan disqualification for a failure to produce a signed plan document. The IRS was responding to a 2018 Tax...more
With the March 31 deadline to correct form defects in plan documents under the Initial Remedial Amendment Period fast approaching, employers now have less than two months to ensure that their 403(b) plans are in compliance...more
Owners and employees of smaller organizations often find themselves stretched in many directions. With all of the demands on one’s time associated with operating a business, it is not uncommon to see attention to the...more
As summarized in our January 7 Client Advisory, the SECURE Act includes many changes that affect the design and administration of retirement plans. One of those changes is the increase to the trigger age for required minimum...more