On June 29, the Internal Revenue Service (“IRS”) issued Notice 2020-52, which provides guidance and temporary relief for employers who may choose to reduce contributions during 2020 to their safe harbor 401(k) or 403(b) plan....more
On June 23, the Internal Revenue Service (“IRS”) issued Notice 2020-51, which provides much-needed guidance on how defined contribution plans (including 403(b) and governmental 457(b) plans) and IRAs implement the waiver of...more
6/26/2020
/ Benefit Plan Sponsors ,
CARES Act ,
Defined Contribution Plans ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
IRA Rollovers ,
IRS ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Retirement Plan Providers ,
SECURE Act
The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade, was enacted on December 20, 2019. Many of the provisions in the...more
1/23/2020
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Compensation & Benefits ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Contributions ,
Fiduciary Duty ,
Final Rules ,
Form 5500 ,
Health and Welfare Plans ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
New Legislation ,
Paid Family Leave Law ,
PCORI ,
QACA ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Tax Credits ,
Tax Planning ,
Unrelated Business Income Tax
In recent years, many defined benefit (“DB”) pension plan sponsors have taken action to limit ongoing coverage and benefit accruals of their DB plans. Over time these plans may have difficulty continuing to satisfy the...more
1/13/2020
/ Benefit Plan Sponsors ,
Best Practices ,
Compensation & Benefits ,
Compliance ,
Defined Benefit Plans ,
Defined Contribution Plans ,
Employee Benefits ,
Employer Liability Issues ,
IRS ,
Minimum Participation Rules ,
New Rules ,
Non-Discrimination Rules ,
Pension Reform ,
Plan Administrators ,
Retirement Plan ,
Retirement Plan Providers ,
SECURE Act ,
U.S. Treasury