On Oct. 3, 2024, the Internal Revenue Service released important guidance on the obligations of 403(b) plan sponsors to their part-time employees. Under recently passed legislation that is effective Jan. 1, 2025, a long-term,...more
The SECURE Act (Setting Every Community Up for Retirement Enhancement Act), signed into law on December 20, 2019, included several significant changes relating to qualified retirement plans. Our previous Information Memo...more
On May 27, 2020, the United States Department of Labor (DOL) published a Final Rule that establishes an alternative “safe harbor” method by which retirement plan administrators can provide participant disclosures and notices...more
In light of the COVID-19 pandemic and the resulting economic uncertainty, 401(k) plan sponsors can expect to see a significant increase in employee requests to withdraw funds from their plan accounts....more
Administrators of qualified retirement plans have always had to deal with the problem of “missing participants” – that is, terminated vested participants for whom the administrator does not have a current mailing address or...more
Three lawsuits filed in early August suggest that plaintiffs’ law firms, representing employees of colleges and universities, are looking at higher education retirement plans as potential targets for lawsuits seeking millions...more