News & Analysis as of

Retirement Plan Relief Measures

Bricker Graydon LLP

Final Warning: Distributions to Beneficiaries Must Begin in 2025

Bricker Graydon LLP on

The retirement plan industry has been wrestling with the changes to required minimum distribution (RMD) provisions made by the SECURE Act and SECURE 2.0. One issue in particular has caused considerable confusion....more

Holland & Knight LLP

Relief Extended from Certain Required Minimum Distribution Requirements for Beneficiaries

Holland & Knight LLP on

The IRS on April 16, 2024, released Notice 2024-35, which extends previously issued temporary relief from certain required minimum distribution (RMD) requirements for beneficiaries under qualified defined contribution plans...more

Williams Mullen

[Hybrid Event] Benefits Forum 2023: SECURE 2.0 and SECURE Act - Opportunities, Relief & Required Changes - October 12th, Richmond,...

Williams Mullen on

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. Attendees will learn about topics...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Catching Up With the Times - IRS Issues Guidance Delaying Required Roth Catch-up Contributions

To the relief of plan sponsors everywhere, the Internal Revenue Service (IRS) recently issued Notice 2023-62, which provides guidance on the requirements of Section 603 of the SECURE Act 2.0 of 2022 relating to catch-up...more

Eversheds Sutherland (US) LLP

More time to catch up: IRS announces two year delay of Roth catch-up requirement

The IRS has announced a two-year “administrative transition period” for plan sponsors to implement the SECURE 2.0 Act provision requiring higher-income employees to make retirement plan catch-up contributions as Roth...more

Bricker Graydon LLP

Save Trees, Grow Retirement Plans

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SECURE 2.0 has changed the game again by now allowing employers to save time and money by eliminating certain notices to be sent to unenrolled employees. In the past sponsors were required to send voluminous documents...more

Laner Muchin, Ltd.

SECURE 2.0 Makes Several Key Changes for Employer Sponsored Retirement Plans

Laner Muchin, Ltd. on

On December 29, 2022, as part of the Consolidated Appropriations Act of 2023, President Biden signed into law the SECURE 2.0 Act of 2022 (“SECURE 2.0”). SECURE 2.0 makes many significant changes to the employer sponsored...more

Venable LLP

SECURE 2.0 Has Arrived - Here's What You Need to Know

Venable LLP on

On December 29, 2022, President Biden signed into law the Consolidated Appropriations Act, 2023. This legislation includes the highly anticipated SECURE 2.0 Act, which expands and supplements the original SECURE Act of 2019....more

Eversheds Sutherland (US) LLP

IRS announces RMD-elay for new rules

​​​​​​​The IRS issued Notice 2022-53 on October 7, providing relief under the required minimum distribution (RMD) rules of Section 401(a)(9) of the Internal Revenue Code (Code). The Notice provides that excise taxes and tax...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - September 2022

The September Monthly Minute reports on the IRS’ new amendment extension deadline with respect to coronavirus-related distributions and qualified disaster distributions, a recent $131.8 million settlement stemming from...more

Eversheds Sutherland (US) LLP

The IRS CARES: Deadline extension for retirement plan amendments

​​​​​​​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

Faegre Drinker Biddle & Reath LLP

IRS Extends Temporary Relief from “Physical Presence” Requirement Through December 31, 2022

The IRS recently issued Notice 2022-27, providing a six-month extension of the temporary relief from the physical presence requirement for certain plan elections (including spousal consents) required to be witnessed by a plan...more

Proskauer - Employee Benefits & Executive...

PBGC Issues Final Rule on Special Financial Assistance Program for Troubled Multiemployer Pension Plans

On July 8, 2022, the Pension Benefit Guaranty Corporation (“PBGC”) published its much anticipated final rule on the special financial assistance (“SFA”) available to certain troubled multiemployer plans under the American...more

Groom Law Group, Chartered

Infrastructure Investment and Jobs Act Expands Interest Rate Smoothing and Disaster Relief Provisions

On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act (the “IIJA”) into law. IIJA contains two sections that may affect qualified retirement plans....more

Snell & Wilmer

Final Touches: IRS Clarifies Impact of COVID-19 Disaster Relief on COBRA Payment Deadlines

Snell & Wilmer on

The Internal Revenue Service recently issued guidance to clarify the interaction between COVID-19 disaster relief and premiums due for continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985...more

Locke Lord LLP

IRS Extends Relief Allowing Remote Witnessing Procedures for Certain Retirement Plan Elections

Locke Lord LLP on

As the COVID-19 pandemic drags on, administrators of defined benefit pension plans continue to field questions about the notary requirement related to certain participant and spousal elections. For qualified retirement plans...more

Laner Muchin, Ltd.

IRS Extends Physical Presence Requirement Relief to Retirement Plans

Laner Muchin, Ltd. on

As we previously reported in 2020, the IRS granted temporary relief from the physical presence requirement under regulations governing participant elections and spousal consents for certain retirement plans. Generally, those...more

Tucker Arensberg, P.C.

IRS Extends Relief for Participant Signatures

Tucker Arensberg, P.C. on

Certain elections made by participants and spouses under retirement plans must be signed “in the physical presence of a plan representative or a notary public.”  The IRS provided relief from this physical presence requirement...more

Faegre Drinker Biddle & Reath LLP

Internal Revenue Service Extends Temporary Relief from the Physical Presence Requirement by One Year

The IRS recently issued Notice 2021-40, providing a one-year extension through June 30, 2022, of the temporary relief from the physical presence requirement for certain plan elections (including spousal consents) required to...more

Groom Law Group, Chartered

IRS Clarifies Partial Plan Termination Relief Under 2020 Legislation

On April 27, the Internal Revenue Service (“IRS”) issued informal guidance on partial plan terminations as part of the COVID-related tax relief provided under The Taxpayer Certainty and Disaster Tax Relief Act of 2020 (the...more

Sullivan & Worcester

Keeping Up With All The Changes

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The Coronavirus Aid, Relief, and Economic Security Act of 2020 (CARES Act), the Consolidated Appropriations Act, 2021 (CAA) and now the American Rescue Plan Act of 2021 (ARPA) each include many provisions that affect...more

BCLP

BCLP Benefits Newsletter: Q1 2021

BCLP on

ARPA provides that, for the period from April 1, 2021 until September 30, 2021, if an individual’s Consolidated Omnibus Budget Reconciliation Act (“COBRA”) qualifying event is an involuntary termination of employment or a...more

Snell & Wilmer

COVID-19 Relief Package Hands 30 Years of Relief to Underfunded Multiemployer Plans

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Even before COVID-19 changed everything, unions and participating employers held out hope for federal assistance for severely underfunded multiemployer pension plans, which threatened the payment of retirement benefits across...more

Fisher Phillips

Overview Of Employee Benefit Provisions In The Consolidated Appropriations Act

Fisher Phillips on

The Consolidated Appropriation Act of 2021 was signed into law on December 27, 2020 and is an impressive 5,593 pages. According to the Senate Historical Office, the Act is the longest bill ever passed by Congress. Buried...more

Faegre Drinker Biddle & Reath LLP

COVID-related Benefit Plan Timeframe Extension Relief Continues With One Year Case-by-case Limit

As described in a prior blog post, last spring the Department of Labor and the Department of the Treasury (Agencies) issued COVID-19 pandemic relief that extended numerous deadlines under ERISA and the Internal Revenue Code...more

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