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Safe Harbors Qualified Retirement Plans

Fisher Phillips

10 Most Significant Employee Benefits Law Changes in 2023’s Federal Spending Bill

Fisher Phillips on

Besides ensuring the federal government remains fully funded, President Biden’s signature Thursday on the Continuing Appropriations Act, 2023 (CAA 23) contains several provisions that will directly impact health and...more

Williams Mullen

2022 Annual Employee Benefits Compliance Checklist for Plan Administrators

Williams Mullen on

Plan administrators should review actions to be taken before the end of 2022 and focus on what to expect for 2023. This checklist addresses plan amendments, notices and other considerations for qualified retirement plans,...more

Holland & Knight LLP

IRS Extends Deadlines to Adopt Plan Amendments for CARES Act, SECURE Act and More

Holland & Knight LLP on

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

Morgan Lewis

Considerations for Sponsors of Qualified Plans for Year Ending 2021, Year Beginning 2022

Morgan Lewis on

With summer winding down, there may be no better time for sponsors of individually designed qualified retirement plans to begin thinking about year-end requirements and preparing for changes in the new year. Thankfully,...more

Snell & Wilmer

2020 End of Year Plan Sponsor “To Do” List (Part 4) - Qualified Retirement Plans

Snell & Wilmer on

As 2020 comes to an end, we are pleased to present our traditional End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. Part 1 covered health and welfare plan...more

Sherman & Howard L.L.C.

Retirement Plan Update: New DOL Disclosures And Updated IRS Notices

The Employee Benefits Group provides updates and guidance for clients with retirement plans. First, the Department of Labor recently issued interim final regulations requiring new information to be included on ERISA-covered...more

Jackson Lewis P.C.

Mid-Year Safe Harbor Design Changes In A COVID-19 World

Jackson Lewis P.C. on

As COVID-19 continues its upheaval of nearly all aspects of life, retirement plan administration included (see some of our prior discussions here, here, here and here), the Internal Revenue Service recently issued guidance...more

Akin Gump Strauss Hauer & Feld LLP

President Trump Signs Secure Act into Law - Executive Compensation, Employee Benefits and ERISA Alert

The Setting Every Community Up for Retirement Enhancement Act of 2019 (Secure Act) was passed by the House and Senate on December 17 and 19, respectively, as part of a budget bill known as the Further Consolidated...more

Verrill

Final Regulations on 401(k) Hardship Withdrawals

Verrill on

In September, the Treasury Department issued final regulations governing hardship withdrawals from 401(k) plans. The final regulations update the existing 2004 regulations to reflect recent statutory changes made to the...more

Snell & Wilmer

2019 End of Year Plan Sponsor “To Do” List (Part 3) Qualified Retirement Plans

Snell & Wilmer on

As 2019 comes to an end, we are pleased to present our traditional End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered health and welfare...more

McDermott Will & Emery

Smarter and Not Harder: The New IRS Hardship Distribution Regulations

McDermott Will & Emery on

The Treasury Department and the IRS recently finalized new hardship distribution rules applicable to defined contribution plans. Plan sponsors should prepare for operational changes to comply with the new regulations,...more

Laner Muchin, Ltd.

IRS Finalizes Hardship Distribution Regulations For Qualified Retirement Plans

Laner Muchin, Ltd. on

Earlier this year, we summarized proposed Treasury regulations and the Bipartisan Budget Act of 2018, which made changes to the rules governing hardship distributions from 401(k) and 403(b) plans....more

Holland & Knight LLP

IRS Adds 2019 Updates to Operational Compliance List

Holland & Knight LLP on

• The Internal Revenue Service (IRS) has updated its Operational Compliance List for retirement plans with a number of changes that take effect in 2019, with a focus on changes to hardship distributions. • The Operational...more

Dickinson Wright

Employers Need to Update their Model IRS Rollover Notices after IRS Changes

Dickinson Wright on

The IRS has updated its “safe harbor explanations” for eligible rollover distributions to reflect recent statutory changes and IRS guidance. Employers should review this latest guidance and update their explanations...more

King & Spalding

Compensation and Benefits Insights - September 2018

King & Spalding on

The IRS recently updated its two model safe harbor explanations that can be used to satisfy the requirement under Section 402(f) to provide notices setting forth certain information to participants who are eligible for...more

Ruder Ware

Simple IRA Retirement-saving Solution

Ruder Ware on

Originally published on Badger Common'Tater - November 2017 Workplace retirement programs play an important role in attracting and retaining employees, helping workers (and owners!) save, and provide significant tax...more

Snell & Wilmer

2017 End of Year Plan Sponsor “To Do” List Qualified Retirement Plans (Part 4)

Snell & Wilmer on

As 2017 comes to an end, we are pleased to present you with our traditional End of Year Plan Sponsor “To Do” Lists. This year, we are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered...more

Snell & Wilmer

2016 End of Year Plan Sponsor “To Do” List Qualified Retirement Plans (Part 3)

Snell & Wilmer on

As 2016 comes to an end, we are pleased to present you with our traditional End of Year Plan Sponsor “To Do” Lists. Like last year, we are presenting our “To Do” Lists in three separate Employee Benefits Updates. Part 1 of...more

Alston & Bird

Do You Need to Send an Annual Notice to Plan Participants? If So, You May Need to Do So by December 1, 2016*

Alston & Bird on

Plan sponsors of defined contribution qualified plans may need to issue one or more annual notices to participants before the end of each plan year. Failure to issue a required annual notice can have significant consequences....more

King & Spalding

November and December 2016 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

King & Spalding on

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties. To avoid such...more

King & Spalding

November and December 2015 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

King & Spalding on

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties. To avoid such...more

Bradley Arant Boult Cummings LLP

IRS Updates Special Tax Notice for Retirement Plans

The Internal Revenue Service has issued Notice 2014-74, updating its safe harbor model notices for use by qualified retirement plans to satisfy the special tax notice requirement under Section 402(f) of the Internal Revenue...more

Poyner Spruill LLP

Accepting Rollover Contributions Now Easier - and Less Risky - For Retirement Plans

Poyner Spruill LLP on

The administrative burden of determining the validity of rollover contributions to qualified retirement plans, and the associated risk of jeopardizing the plan’s tax-qualified status, traditionally has been a significant...more

Laner Muchin, Ltd.

Oops, I Forgot To Distribute A Safe Harbor Notice For My Company's 401(k) Plan, Now What?

Laner Muchin, Ltd. on

The Internal Revenue Service often publishes correction methods for common errors involving qualified retirement plan administration issues. One of the most common errors is failing to notify eligible employees of their safe...more

Pullman & Comley - Labor, Employment and...

New Guidance – Is that Rollover Contribution Valid?

Since 1992, the ability to move retirement money from one qualified plan to another qualified plan or individual retirement account has been simplified. One hiccup in this easing process has been determining the level of due...more

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