On August 28, the IRS issued IR-2024-227, reminding employers of the following key aspects of educational assistance programs under Internal Revenue Code Section 127:
-They can be used to help reimburse the costs of or...more
9/13/2024
/ Benefit Plan Sponsors ,
Department of Education ,
Educational Assistance Programs ,
Employee Benefits ,
Employer Liability Issues ,
Fringe Benefits ,
Internal Revenue Code (IRC) ,
IRS ,
Regulatory Requirements ,
Student Loans ,
Tuition
In five recently filed class action lawsuits, 401(k) plan participants allege that plan fiduciaries violated ERISA by using plan forfeitures to offset employer contributions instead of paying plan expenses. The use of...more
Following the initial flurry of publications summarizing the retirement plan enhancements under the SECURE 2.0 Act of 2022 (“SECURE 2.0”), this post takes a deeper dive into one of those enhancements: the optional...more