When an employee becomes disabled, a variety of questions arise regarding that employee’s entitlement to compensation and benefits. As a member of your company’s human resources or employee benefits department, employees and...more
In January, the Department of the Treasury (“Treasury”) and Internal Revenue Service (IRS) issued proposed regulations on the catch-up contribution provisions under the SECURE 2.0 Act of 2022 (“SECURE 2.0”). While the...more
3/25/2025
/ 401k ,
Compliance ,
Employee Benefits ,
Employee Contributions ,
FICA Taxes ,
IRS ,
New Legislation ,
Recordkeeping Requirements ,
Regulatory Requirements ,
Retirement Plan ,
Roth IRA ,
SECURE Act ,
Tax Planning ,
Tax Reform ,
U.S. Treasury
The SECURE 2.0 Act of 2022 (SECURE 2.0) significantly changes the legal and administrative compliance landscape for U.S. retirement plans. Foley & Lardner LLP is authoring a series of articles that take a “deep dive” into key...more
9/21/2023
/ 403(b) Plans ,
Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Contributions ,
Employer Contributions ,
EPCRS ,
Internal Revenue Code (IRC) ,
IRS ,
Part-Time Employees ,
Retirement Plan ,
Roth IRA ,
SECURE Act ,
Self-Correction Programs
To help employers properly administer their 401(k) plans, in 2022, Foley & Lardner LLP is authoring a series of monthly “401(k) Compliance Check” newsletters. This article includes some tips for drafting a best-in- class...more
In last month’s 401(k) Compliance Check, we discussed what to do if you inadvertently failed to enroll someone in your 401(k) plan. In this month’s Compliance Check, we focus on the variety of typical notices that are...more
4/20/2022
/ 401k ,
Automatic Enrollment ,
Best Practices ,
Compliance ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fee Disclosure ,
IRS ,
QACA ,
Retirement Plan ,
Safe Harbors
On June 19, 2020, the IRS issued Notice 2020-50 (the “Notice”), which provides additional guidance regarding coronavirus distributions and loans from qualified retirement plans under the Coronavirus Aid, Relief, and Economic...more
If your company sponsors a 401(k) or 403(b) plan that allows participants to take hardship distributions, you probably had a conversation with your plan recordkeeper last year about changes to the rules on hardship...more
10/8/2019
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Deferred Compensation ,
Employee Benefits ,
Final Rules ,
Hardship Distributions ,
IRS ,
Plan Documents ,
Retirement Plan ,
Safe Harbors ,
U.S. Treasury
Impact of Tax Reform on Employer-Provided Retirement, Welfare, and Fringe Benefits -
The recently enacted Tax Cuts and Jobs Acts (the “Tax Reform Act”) made significant changes to the Internal Revenue Code. Although there...more
1/8/2018
/ 401k ,
403(b) Plans ,
Affordable Care Act ,
Employee Benefits ,
Fringe Benefits ,
Hardship Distributions ,
Health and Welfare Plans ,
Individual Mandate ,
Individual Retirement Account (IRA) ,
Retirement Plan ,
Roth IRA ,
Tax Cuts and Jobs Act