On February 27, 2023, the IRS and the Department of Treasury published proposed regulations regarding the use of forfeitures in qualified retirement plans. If finalized, the proposed rule will be effective for plan years...more
6/12/2023
/ Benefit Plan Sponsors ,
Defined Benefit Plans ,
Defined Contribution Plans ,
Employee Benefits ,
Forfeiture ,
IRS ,
Pension Reform ,
Plan Administrators ,
Proposed Rules ,
Retirement Plan ,
Retirement Plan Providers ,
U.S. Treasury
Under Internal Revenue Code (Code) Section 36B, individuals are eligible for an exchange subsidy (or premium tax credit) if their employer has not offered them affordable coverage that provides minimum value. The IRS recently...more
The IRS recently issued Notice 2021-40, providing a one-year extension through June 30, 2022, of the temporary relief from the physical presence requirement for certain plan elections (including spousal consents) required to...more
As described in a prior blog post, last spring the Department of Labor and the Department of the Treasury (Agencies) issued COVID-19 pandemic relief that extended numerous deadlines under ERISA and the Internal Revenue Code...more
3/2/2021
/ Benefit Plan Sponsors ,
Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Filing Deadlines ,
Health and Welfare Plans ,
Internal Revenue Code (IRC) ,
IRS ,
Relief Measures ,
Retirement Plan ,
Time Extensions ,
U.S. Treasury
On June 3, 2020, the Treasury Department issued Notice 2020-42 providing temporary relief from the requirement for a plan representative or notary public to be physically present to witness certain participant elections...more