News & Analysis as of

401k Benefit Plan Sponsors Vesting

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Vesting doesn’t help with retention

I have worked at places that were so unpleasant that I consider myself lucky the vesting schedule was only six years. If they had the option, I’m convinced they would have implemented a 20-year vesting schedule. For me,...more

Holland & Knight LLP

An Emerging Trend in ERISA Class Action Litigation: 401(k) Forfeiture Suits

Holland & Knight LLP on

There has been a recent uptick in ERISA class actions challenging the use of 401(k) plan forfeitures. Forfeitures are employer contributions that participants forfeit when they leave employment before those contributions vest...more

Fisher Phillips

Proposed Regulations Impact Retirement Plans for Certain Part-Time Employees: FAQs for Employers

Fisher Phillips on

Employers that sponsor 401(k) or 403(b) plans should be aware of eligibility and participation rules for their long-term, part-time (LTPT) employees. Historically, such plans could exclude employees who worked fewer than...more

Bricker Graydon LLP

The Gift That Keeps on Giving: New IRS Guidance on Roth Employer Contributions

Bricker Graydon LLP on

The Internal Revenue Service (IRS) gave plan sponsors an early Christmas gift with the release of new guidance late last year addressing several key provisions contained in SECURE 2.0. A welcome portion of the notice was...more

Jackson Lewis P.C.

The Time for Long-Term Part-Time Employee Eligibility Compliance Has Nearly Arrived!

Jackson Lewis P.C. on

When the original SECURE Act was passed in 2019, compliance with its new long-term part-time employee rule seemed far in the future—way out to January 1, 2024. Well, that time is nearly upon us, so sponsors of 401(k) plans...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Partial Termination headache

With COVID and massive layoffs, we certainly have a partial termination problem to consider. If an employer has a turnover rate of 20% or more, that counts as a partial termination, and employers have to fully vest employees...more

Verrill

401(k) Plan Sponsors – Time to Focus on Compliance with the SECURE Act’s Eligibility and Vesting Rules for Long-Term, Part-Time...

Verrill on

As noted in our January 7, 2020 Client Advisory, the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) requires 401(k) plans to allow certain long-term, part-time employees to make elective...more

Groom Law Group, Chartered

Round One of SECURE Act IRS Guidance Clarifies Some Key Issues for Retirement Plans

IRS Notice 2020-68 (Notice) provides the first round of guidance on a number of provisions under the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) and the Bipartisan American Miners Act of...more

Dentons

Matching Employee Retirement Contributions during a Pandemic

Dentons on

Many employers are looking at their financial sustainability for the near future as COVID-19 impacts our economy and are looking at ways to cut costs. A common question we are receiving - can we stop matching our employees’...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - January 2017

Proskauer Rose LLP on

Editor’s Overview - In 2016, we saw a considerable uptick in the number and variety of excessive fee lawsuits commenced against plan fiduciaries of defined contribution plans. We begin the year by taking a look at these...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - November 2016

Things That Won't Help A Retirement Plan Sponsor Limit Their Liability. Yup, not going to help. When I was a teenager, we were told that eating oat bran would lower cholesterol and it didn't. We're told that...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - April 2016

Proskauer Rose LLP on

Editor's Overview - This month we feature three key developments. First, we review the U.S. Supreme Court's decision in Gobeille v. Liberty Mut. Ins. Co., 136 S. Ct. 936, 947 (2016) wherein the Supreme Court held that a...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - March 2016

Proskauer Rose LLP on

Editor’s Overview - This month we review the U.S. Supreme Court’s decision in Montanile v. Board of Trustees of National Elevator Industries Health Benefit Plan where the Supreme Court considered the scope of...more

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