On June 8, 2022, the Congressional Research Service published “Private-Sector Defined Contribution Pension Plans: An Introduction.” We reviewed the report and wanted to highlight a few key data points. Defined contribution...more
The CARES Act includes a provision that can help participants who are affected by the coronavirus (qualified individuals*) by permitting them to take a special coronavirus-related distribution (CRD) this year. As a financial...more
Hardship Distributions During the COVID-19 Outbreak
As the COVID-19 outbreak continues, retirement plan sponsors will likely receive questions from employees about ways in which they can access funds in their retirement...more
IRS Guidance Related to Coronavirus Testing/Treatment for HDHPs/HSAs -
Last week, the IRS issued guidance confirming that high-deductible health plans with health savings accounts can provide coronavirus testing and...more
The next wave of Employee Retirement Income Security Act (ERISA) litigation could be upon us, depending on the outcome of four new lawsuits bringing untested legal arguments about the reasonableness of actuarial assumptions....more
The Treasury Department has issued proposed hardship distribution regulations that incorporate changes made in the Bipartisan Budget Act, the Pension Protection Act of 2006, and the Tax Cuts and Jobs Act. The Treasury...more