Employee benefits or employee benefit issues can arise anytime you are providing employees something of value other than direct cash compensation. Engagement is very important. I hear it talked about a lot at 401(k) committee...more
Dear Department of Labor: The fiduciary role of selecting 401(k) and 403(b) plan investment options based on diversification and projected risk and return is too easy. Can we sacrifice some returns in order to promote social...more
Participants do not always prefer the investment choices retirement plans offer. Whether participants want additional ways to diversify their portfolios or have other reasons, participants are asking retirement plan sponsors...more
Carlton Fields tax attorney Lowell Walters discusses three timely employee benefits issues: using employee benefits to reduce expenses; helping retirement plan participants in an inconsistent investment market; and, the...more
9/17/2020
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Bonuses ,
COBRA ,
Compensation & Benefits ,
Department of Labor (DOL) ,
Eligibility ,
Employee Benefits ,
Employer Contributions ,
Employer Group Health Plans ,
Employment Tax ,
Furloughs ,
Hiring & Firing ,
Investment Adviser ,
Investment Management ,
Layoffs ,
Payroll Expenses ,
Reduction in Hours ,
Retirement Plan ,
Wage and Hour
This article focuses on 401(k) and 403(b) plans that are in one of the following situations:
1. The plan failed ADP or ACP testing and must distribute excess amounts to its higher-ranking employees or make additional...more
2/5/2020
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Compensation & Benefits ,
Distribution Rules ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Internal Revenue Code (IRC) ,
IRS ,
Nonprofits ,
Pass-Through Entities ,
Retirement Plan ,
Tax Deductions ,
Tax Planning
On October 8, 2019, the U.S. Department of Treasury and the IRS released the 2019-2020 “Priority Guidance Plan” for the 12-month period running from July 1, 2019, through June 30, 2020. The plan sets out the agencies’...more
10/29/2019
/ 403(b) Plans ,
457(b) Plans ,
Audits ,
Employee Benefits ,
ESOP ,
Government Entities ,
IRS ,
New Guidance ,
Popular ,
Required Forms ,
Tax Exempt Entities ,
Tax Liability ,
Tax Planning ,
U.S. Treasury ,
UBTI
On April 19, 2019, the IRS updated its guidance on the official methods of correction that can be used by tax qualified and 403(b) retirement plans (and, to a lesser extent, 457 plans). ...more
This alert should interest sponsors of retirement plans subject to IRC sections 401(k), 403(b), or 457(b) that authorize hardship distributions (often called “unforeseeable emergency distributions” in 457(b) plans)....more
Provisions in the current proposed Senate tax reform bill would likely reduce the effectiveness of retirement plan arrangements that regularly receive contributions of unused leave for former employees, commonly known as...more
This article should interest employers offering retirement plan benefits or leave donation programs to employees affected by Hurricanes Harvey and Irma, in particular, and in various states of emergencies, in general. It...more