It’s not often that business owners get good news from the government, but small and even some medium-sized businesses with 401(k) plans got a helping hand from the U.S. Department of Labor (“DOL”) earlier this year when the...more
The final installment of this blog series discussing changes made by the Setting Every Community Up for Retirement Enhancement Act of 2020 (“the SECURE Act”) focuses on modifications to the required minimum distributions...more
This third installment of summaries of some of the key provisions of the Setting Every Community Up for Retirement Enhancement Act of 2020 (“the SECURE Act”) discusses an extension of the date for adopting a new employer...more
One of the spending bills signed by President Trump to avert a government shutdown late last year had attached to it the Setting Every Community Up for Retirement Enhancement Act of 2019, or as it’s known by its acronym, the...more
In 2019, we witnessed the precipitous decline in value of WeWorks, as well as supernovas of other startups that investors considered to be shooting stars. Aside from increased scrutiny of founder financial projections, one...more
Increasingly, 401(k) plans have become the primary retirement savings vehicle for workers in U.S. private industry, and according to the Investment Company Institute, at the end of 2015, 87 percent of 401(k) plan participants...more
The Internal Revenue Service recently issued a ruling describing the tax treatment of individual retirement accounts that become unclaimed property. IRA owners should be aware of this ruling and ensure that they are taking...more
The IRS recently issued a ruling describing the tax treatment of IRAs that become unclaimed property. IRA owners should be aware of this ruling and ensure that they are taking appropriate measures to avoid having their IRAs...more
Action Item: On August 24, 2016, the Internal Revenue Service (“IRS”) issued new guidance that allows individuals who inadvertently fail to complete the rollover of a distribution from an individual retirement account (“IRA”)...more