With a multitude of questions surrounding implementation and administration, late on a summer Friday afternoon, the IRS issued Notice 2023-62 (Notice), providing Plan Sponsors with a transition period until 2026 to implement...more
8/28/2023
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Employee Benefits ,
FICA Taxes ,
FUTA ,
IRS ,
Multiemployer Plan ,
Retirement Plan ,
Roth Conversions ,
Roth IRA ,
SECURE Act
With another National Employee Benefits Day upon us, it is a good reminder for all involved in the world of Employee Benefits to pause (take three deep breaths) and use it as an opportunity to look back at where we’ve been...more
Additional Tools for Employers to Encourage Retirement Savings-
Matching Contributions on Student Debt Payments-
One of the most eagerly anticipated provisions of the “SECURE 2.0” legislation is the ability for...more
1/30/2023
/ 401k ,
Education Expenses ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Contributions ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Private Letter Rulings ,
Retirement Plan ,
SECURE Act
The U.S. House of Representatives has passed the Build Back Better Act (BBBA) (H.R. 5376) by a vote of 220–213. Supported by the Biden Administration and congressional Democrats, the controversial bill heads to the Senate for...more
11/30/2021
/ Affordable Care Act ,
Child Care ,
Clean Energy ,
Employee Contributions ,
Energy Storage ,
Family and Medical Leave Act (FMLA) ,
Individual Retirement Account (IRA) ,
Joe Biden ,
NLRA ,
OSHA ,
Popular ,
Proposed Legislation ,
Retirement Plan ,
Roth IRA ,
Solar Energy ,
Tax Credits
As the year draws to a close, it is helpful for employers to pause to evaluate employee benefit plan amendment deadlines and other crucial fourth quarter considerations, including:...more
10/1/2021
/ 401k ,
Billing ,
Cafeteria Plans ,
CARES Act ,
Carryover Basis ,
Employee Benefits ,
Employer Group Health Plans ,
Flexible Spending Accounts ,
Health Insurance ,
MHPAEA ,
Remote Working ,
Retirement Plan ,
SECURE Act ,
W-4
Today, the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) issued much anticipated cybersecurity guidance for employee retirement plans. This comes more than four and a half years after the ERISA...more
4/15/2021
/ Best Practices ,
Cybersecurity ,
Department of Labor (DOL) ,
EBSA ,
Employee Retirement Income Security Act (ERISA) ,
Employee Training ,
Encryption ,
Popular ,
Retirement Plan ,
Third-Party Service Provider ,
Wage and Hour
Like no other event in history, the COVID-19 pandemic shined a light on the value employee benefits bring to employment. What once may have been viewed as a “fringe” benefit is now central to attracting and retaining...more
On August 31, 2018, President Trump issued an Executive Order (the “Order”) calling on the Department of Labor (“DOL”) and the Internal Revenue Service (“IRS”) to consider issuing regulations and guidance directed at...more
The future of the Illinois Secure Choice Savings Program Act (Secure Choice) is uncertain following Governor Bruce Rauner’s amendatory veto that could make employer participation in the Secure Choice program optional.
The...more
Employers in Illinois with at least 25 employees must comply with the Illinois Secure Choice Savings Program Act (Secure Choice) or offer employees an employer-sponsored retirement plan. Secure Choice is set to roll out in...more
President Donald Trump has taken actions aimed at alleviating some of the regulatory burdens on the financial services industry. Through a Presidential Memorandum, issued on February 3, 2017, he ordered the Department of...more
On February 3, 2017, President Trump took actions aimed at alleviating some of the regulatory burdens on the financial services industry. Through a Presidential Memorandum, President Trump ordered the DOL to “examine the...more