This week, we are discussing the five most common compliance mistakes made by 401(k) plan administrators and fiduciaries, the potential liability associated with such mistakes, and steps you can take to avoid making them...more
Mistakes are all too easy to make, but fortunately, they are also easy to prevent! This week, we are discussing the five most common compliance mistakes made by 401(k) plan administrators and fiduciaries, the potential...more
We previously blogged about the guidance released by the IRS in Notice 2018-68 (the “Notice”), which addressed some of the changes made to Section 162(m) of the Internal Revenue Code (“Section 162(m)”) in the 2017 tax reform...more
It took roughly nine months, but you may now be in a position to identify and reveal the status of contracts as 162(m) grandfathered – or not. Last week, in IRS Notice 2018-68, the IRS provided long-awaited, albeit limited,...more
Did you read our post “Work Now, Party Later,” advising you to do just that in response to the new Department of Labor rule governing disability claims procedures? If so—party on! If not, we hope you enjoyed your holiday...more
Plan sponsors are typically forced to wait for last minute guidance to satisfy year-end compliance obligations. As a result, those of us who work with these plans spend the last days of the year frantically ensuring plans are...more
Earlier today President Trump issued an order directing the Department of Labor to review the new regulation to determine whether it is inconsistent with the current administration’s policies and, as it deems appropriate, to...more
Only hours into the new administration, steps were taken to eliminate, or at the very least minimize the impact of, the Patient Protections and Affordable Care Act (“ACA”). In his first Executive Order, President Trump...more
If statistics are any guide, by now a significant number of you have already broken your New Year’s resolutions. However, there’s still plenty of time to make new ones that you can break, er, keep. ...more
After more than nine years of deliberations, the IRS has finally released proposed regulations governing all types of deferred compensation plans maintained by non-profit organizations and governmental entities.
In...more
7/15/2016
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Comment Period ,
Deferred Compensation ,
Forfeiture ,
Government Entities ,
IRS ,
Non-Compete Agreements ,
Nonprofits ,
Paid Leave ,
Proposed Regulation ,
Section 409A ,
Section 457A ,
Severance Pay
On Monday, May 16 the Equal Employment Opportunity Commission (“EEOC”) issued two final regulations providing guidance on how employer-sponsored wellness programs work with the general antidiscrimination requirements of Title...more
In a recently released IRS Chief Counsel Memo, the IRS confirmed that wellness incentives are generally taxable. The memo also, indirectly, confirmed the tax treatment of wellness programs more generally....more
On April 6, 2016, the Department of Labor (DOL) released the Conflict of Interest Final Rule. Among other things, this rule expands the definition of fiduciary, and requires that persons who give investment advice to...more
The ball dropped on 2016, but don’t drop the ball on your benefit plan compliance. As part of our annual tradition, we’re pleased to present this year’s Top Ten New Year’s Countdown for the reading pleasure of our fellow...more