The Internal Revenue Service and U.S. Department of Labor recently issued guidance on various aspects of the Consolidated Appropriations Act of 2023, commonly referred to as SECURE 2.0. Below is a summary of key provisions...more
2/14/2024
/ 401k ,
403(b) Plans ,
Automatic Enrollment ,
Benefit Plan Sponsors ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Department of Labor (DOL) ,
Employer Contributions ,
EPCRS ,
Incentives ,
IRS ,
Retirement Plan ,
Roth IRA ,
Safe Harbors ,
SECURE Act
New proposed regulations clarify how employers should implement retirement plan eligibility rules for long-term, part-time ("LTPT") employees. While some questions remain, the proposed regulations provide a number of welcome...more
12/15/2023
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Employee Contributions ,
Employee Retirement Income Security Act (ERISA) ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
Non-Discrimination Rules ,
Proposed Regulation ,
Retirement Plan ,
Safe Harbors ,
SECURE Act
Although retirement plan excessive fee cases remain an ongoing concern for plan sponsors, the recent jury trial victory for Yale in Vellali, et. al. v. Yale University, et. al. provides hope for plans with strong, prudent...more
8/16/2023
/ Benefit Plan Sponsors ,
Breach of Duty ,
Compliance ,
Documentation ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fiduciary Duty ,
Governance Standards ,
Investment ,
Jury Trial ,
Policies and Procedures ,
Retirement Plan
SECURE 2.0 became law on December 29, 2022. It has something for all retirement plans, and its provisions should be reviewed by all retirement plan sponsors. It aims to increase retirement savings and expand retirement...more
Many plan committees will be holding their Q4 meetings soon, and should begin reviewing compliance with recently issued final rules governing investments in plans covered by the Employee Retirement Income Security Act...more
Update October 14: This blog has been updated to reflect current guidance about fully vested terminated participants. Many employers continue to find themselves in the position of furloughing or terminating significant...more
Many employers continue to find themselves in the position of furloughing or terminating significant portions of their workforce due to the ongoing COVID-19 pandemic. As employers make personnel reductions in response to the...more
Fueled by concerns regarding investments made for environmental, social and corporate governance, or similar considerations (ESG) in retirement plans, the U.S. Department of Labor (DOL) has proposed amendments to the...more
This advisory summarizes key provisions in the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) applying to employee benefit plans. We provide a summary of key items and more detailed FAQs relating to...more
3/30/2020
/ 401k ,
CARES Act ,
Coronavirus/COVID-19 ,
Defined Contribution Plans ,
Employee Benefits ,
Employer Group Health Plans ,
Hardship Distributions ,
Payroll Taxes ,
Relief Measures ,
Retirement Plan ,
Student Loans ,
Tax Credits ,
Telehealth
Are you an employer with employees in Oregon? If you do not offer a retirement plan to any of your employees, read on for your obligations under a new state-run retirement savings program called OregonSaves. If you do...more
In the ever-increasing push to “go green,” many employers are opting to distribute required notices and disclosures to employees via e-mail or through website postings. Plan sponsors are asking: Can an employer rely on an...more
On June 26, 2013, the Supreme Court issued its landmark ruling in Windsor v. United States holding that same-sex marriages valid under state law are now recognized at the federal level, thereby transforming the treatment of...more
7/1/2013
/ Civil Unions ,
COBRA ,
DOMA ,
Domestic Partnership ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Equal Protection ,
Family and Medical Leave Act (FMLA) ,
Hollingsworth v Perry ,
Income Taxes ,
Proposition 8 ,
Retirement Plan ,
Same-Sex Marriage ,
SCOTUS ,
Standing ,
US v Windsor