News & Analysis as of

401k › Loans › Employee Benefits

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The whole problem with loans

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

When I draft a new 401(k) plan for a client, one of the first provisions I’ll recommend—including with some reluctance—is a loan feature. Not because I enjoy dealing with it. On the contrary, it’s an administrative pain. But...more

Husch Blackwell LLP

Anatomy of an ESOP

Husch Blackwell LLP on

ESOPs can pay fair market value for the stock: Stock purchased by an ESOP must be appraised by an independent third party expert working with a trustee for the ESOP who must also be independent from the seller. The ESOP is...more

Blank Rome LLP

2017 Tax Law Change Provides Relief to Workers with 401(K) Plan Loans Who Lose Their Jobs

Blank Rome LLP on

Increasingly, 401(k) plans have become the primary retirement savings vehicle for workers in U.S. private industry, and according to the Investment Company Institute, at the end of 2015, 87 percent of 401(k) plan participants...more

Eversheds Sutherland (US) LLP

IRS posts six more “issue snapshots” for retirement plans

Eversheds Sutherland (US) LLP on

Since 2016, the Internal Revenue Service Tax Exempt and Government Entities Division (TE/GE) has followed a practice of posting “issue snapshots” – technical summaries of tax issues provided for reference purposes – from time...more

Dickinson Wright

Common But Costly Mistakes in 401(k) Plan Loans

Dickinson Wright on

Many 401(k) plans allow participants to borrow amounts from their vested 401(k) plan accounts and repay such amounts, typically through payroll deductions, back to their own accounts. Plan loans must comply with IRS rules...more

Holland & Knight LLP

Tax Reform's Impact on 401(k) Plan Loan Offset Treatment - Actions for Plan Administrators and Human Resources Benefits Managers

Holland & Knight LLP on

• The recent Tax Cuts and Jobs Act of 2017 (the Act), enacted on Dec. 22, 2017, contains a few rules that will impact benefit administrators. • This client alert focuses on changes made to the tax treatment of plan loan...more

Carlton Fields

Retirement Plan and Leave Donation Programs During States of Emergencies

Carlton Fields on

This article should interest employers offering retirement plan benefits or leave donation programs to employees affected by Hurricanes Harvey and Irma, in particular, and in various states of emergencies, in general. It...more

Pillsbury Winthrop Shaw Pittman LLP

Internal Revenue Service Provides Helpful Relief to Hurricane Victims

Pillsbury Winthrop Shaw Pittman LLP on

Announcement 2017-11 (Announcement) provides that a tax-qualified employer retirement plan may treat a distribution to a current or former employee covered by the Announcement as on account of hardship or an unforeseeable...more

Bracewell LLP

Hurricane Harvey Relief for Employees

Bracewell LLP on

Following Hurricane Harvey and its resulting destruction, many employees are in need of financial assistance and/or early access to retirement funds. We will highlight how employers can make direct financial assistance...more

McAfee & Taft

IRS announces special relief to help victims of Hurricane Harvey

McAfee & Taft on

Last week the IRS announced that 401(k) plans and certain similar employer-sponsored retirement plans can make loans and hardship distributions to help victims of Hurricane Harvey....more

Jackson Walker

IRS Provides for Expedited Loans and Hardship Distributions from Retirement Plans

Jackson Walker on

The IRS announced last week that it will allow victims of Hurricane Harvey and their families to more easily access assets held in employer-sponsored retirement plans. Specifically, the IRS will allow certain retirement plans...more

Ballard Spahr LLP

IRS Eases Rules for Plan Loans and Hardship Distributions After Hurricane Harvey

Ballard Spahr LLP on

The IRS has released Announcement 2017-11 to provide relief to taxpayers from requirements for loans and hardship distributions for participants of qualified retirement plans who have been adversely affected by Hurricane...more

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