Under the final rule published by the US Department of Labor on May 21, 2020, retirement plan administrators can choose to deliver required disclosures electronically by complying with the conditions of a new safe harbor. The...more
For 2020, legislation enacted in December of 2019 dramatically increases penalties imposed by the Internal Revenue Code (the Code) for late filing of certain employee benefit plan notices and reports. In addition, a final...more
1/31/2020
/ Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Inflation Adjustments ,
Internal Revenue Code (IRC) ,
New Legislation ,
Notice Requirements ,
Penalties ,
Reporting Requirements ,
SECURE Act ,
Tax Revenues
The Department of Labor (DOL) issued a proposed rule that, if finalized, would expand its existing guidance and liberalize rules for electronic disclosure of retirement plan notices under ERISA. The proposed rule, which sets...more
10/31/2019
/ Benefit Plan Sponsors ,
Comment Period ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Electronic Disclosure ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Notice Requirements ,
Plan Administrators ,
Proposed Rules ,
Public Comment ,
Retirement Plan ,
Safe Harbors
Regarding multiemployer pension plans, the U.S. Court of Appeals for the Seventh Circuit has long held that a purchaser can incur withdrawal liability in an asset transaction because of the federal successor liability...more