Over the years, plan sponsors and administrators have wrestled with the question of what to do with the accounts of participants who left employment years earlier and cannot now be located. ...more
1/28/2025
/ Benefit Plan Sponsors ,
Compensation & Benefits ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Employee Benefits ,
Financial Services Industry ,
Individual Retirement Account (IRA) ,
IRS ,
Plan Participants ,
Reporting Requirements ,
Retirement Plan ,
SECURE Act
Seyfarth Synopsis: Retirement plans hold millions (sometimes, hundreds of millions) of dollars in assets, and participants’ personal information is increasingly maintained and accessible online. With such large amounts of...more
After a long process, which stretched on for over a decade, on May 27, 2020, the Department of Labor (“DOL”) published final regulations regarding the electronic delivery of required disclosures under the Employee Retirement...more
On August 14, 2019, the IRS issued Revenue Ruling 2019-19, providing guidance to both tax-qualified plan administrators and participants on the tax treatment of plan distribution checks that are not cashed. ...more
8/25/2019
/ Department of Labor (DOL) ,
Distribution Rules ,
Employee Benefits ,
IRS ,
New Guidance ,
Plan Administrators ,
Plan Participants ,
Qualified Retirement Plans ,
Retirement Plan ,
Tax Liability ,
Tax Planning ,
Uncashed Checks