The Internal Revenue Service (IRS) has issued final regulations for required minimum distributions (RMDs) from certain retirement plans, including tax-qualified plans, Internal Revenue Code (Code) section 403(b) plans,...more
Last August, we summarized the string of cases filed against fiduciaries of401(k) plans that offer the BlackRock target date funds (TDFs) as investment options to plan participants. All of the complaints were nearly identical...more
As 2021 winds down, retirement plan sponsors should confirm that their plan documents are amended by December 31, 2021, to comply with certain plan changes:
• Hardship Distributions. 401(k) plans and 403(b) plans must be...more
12/15/2021
/ American Rescue Plan Act of 2021 ,
Benefit Plan Sponsors ,
CARES Act ,
Collective Bargaining Agreements (CBA) ,
Corporate Counsel ,
Deadlines ,
Discretionary Clauses ,
Employee Benefits ,
Hardship Distributions ,
PBGC ,
Retirement Plan ,
SECURE Act ,
Year-End Planning
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
In July 2020, the Government Accountability Office (GAO) prepared a report for the Ranking Member of the Senate Committee on Health, Education, Labor and Pensions about Qualified Domestic Relations Orders (QDROs). QDROs are...more
As described in our May 1 blog post, the Department of Labor (DOL) and the Internal Revenue Service (IRS) recently issued guidance (the “Extension Guidance”) providing relief to benefit plan sponsors and participants for...more
Since the end of the IRS’s cyclical determination letter program for individually designed retirement plans in 2017, plan sponsors have been able to request favorable determination letters for individually designed plans only...more
5/20/2019
/ 401k ,
Benefit Plan Sponsors ,
Determination Letter ,
Employee Benefits ,
Filing Deadlines ,
Filing Requirements ,
Hybrid Plan ,
IRS ,
Mergers ,
Public Comment ,
Qualified Retirement Plans ,
Retirement Plan ,
Revenue Procedures ,
Sanctions ,
Voluntary Correction Program