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Benefit Plan Sponsors Beneficiaries

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Soap Operas Are Great on TV, But Not in Your 401(k) Plan

Look, I love a good soap opera. I grew up on Dallas, and I still sneak in The Bold and the Beautiful when I can. There’s something about the betrayal, the big reveals, and the constant twists that makes it compelling. But you...more

Foley & Lardner LLP

Benefits Basics - When an Employee Dies: A Resource Guide for HR & Benefits Professionals

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As a member of your company’s human resources or employee benefits department, one of the most difficult calls you may receive is from a colleague or an employee’s family member notifying you of the death of an employee. This...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - January 2025

The January Monthly Minute highlights a recent Texas court decision holding ESG investing violated ERISA and a new development in the J&J prescription drug case that found plaintiff lacked standing to sue, and also digs into...more

Snell & Wilmer

2024 End-of-Year Plan Sponsor “To Do” List (Part 1) Health and Welfare

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We are pleased to present our annual End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. This Part 1 covers year-end health and welfare plan issues. Parts 2,...more

Proskauer - Employee Benefits & Executive...

Benefit Plan Deadlines Extended for Individuals Affected by Recent Natural Disasters

Last week, the U.S. Departments of Labor and Treasury issued a Joint Notice requiring the extension of certain benefit plan deadlines for individuals affected by Hurricanes Helene and Milton and Tropical Storm Helene.[1] The...more

Verrill

A Brief Guide to Qualified Disclaimers for Retirement Plan Administrators

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A “qualified disclaimer” is a tax-effective way to refuse a transfer of property that would otherwise occur on someone’s death. From time to time, retirement plan administrators may be contacted by a beneficiary who wants a...more

Holland & Knight LLP

Relief Extended from Certain Required Minimum Distribution Requirements for Beneficiaries

Holland & Knight LLP on

The IRS on April 16, 2024, released Notice 2024-35, which extends previously issued temporary relief from certain required minimum distribution (RMD) requirements for beneficiaries under qualified defined contribution plans...more

Morris, Manning & Martin, LLP

Voluntary Reporting for a Mandatory Database: DOL’s New Approach for the SECURE Act 2.0 Retirement Savings Lost and Found

On April 15, the Department of Labor (“DOL”) published a Notice of Proposed Information Request (the “Notice”), outlining its plan to create the Retirement Savings Lost and Found required by SECURE Act 2.0.  Although...more

McAfee & Taft

Employee benefit rules: The gifts that keep on giving

McAfee & Taft on

As employers look back at 2023 and ahead to 2024, there are so many compliance-related items to consider relating to their employee benefit plans.  The rules employers are supposed to be complying with keep growing and...more

Shutts & Bowen LLP

SECURE 2.0 and Protecting Your Designated Beneficiaries

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The Setting Every Community Up For Retirement Enhancement Act (SECURE Act) was attached to a spending bill (the Further Consolidated Appropriations Act of 2020, or FCAA) and signed into law on December 20, 2019, taking effect...more

Bricker Graydon LLP

Beneficiary Designations - Plan Sponsor Best Practices

Bricker Graydon LLP on

For most Americans, their retirement plan savings accounts are likely one of their largest and most important assets. And yet many do not give these accounts the attention they deserve when it comes to naming and updating...more

Faegre Drinker Biddle & Reath LLP

The SECURE Act 2.0: The Most Impactful Provisions #10 — Moving 529 Assets to a Roth IRA

The President signed the Consolidated Appropriations Act, which included SECURE Act 2.0, on December 29, 2022. SECURE Act 2.0 has over 90 provisions, some major and some minor; some mandatory and some optional; some...more

Foley & Lardner LLP

401(K) Compliance Check #11 – Tackling Beneficiary Designations

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In last month’s 401(k) Compliance Check, we discussed best practices for drafting a 401(k) plan summary plan description (SPD). This month we provide some best practices for plan administrators’ handling of 401(k) plan...more

Verrill

ERISA Section 404(c) Protection: A Refresher for Fiduciaries

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The Employee Retirement Income Security Act (“ERISA”) imposes both (i) significant responsibilities on fiduciaries of participant-directed individual account plans, including 401(k) plans, and (ii) personal liability for...more

Williams Mullen

Annual Benefits Forum: How To Be an ERISA Superhero

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Williams Mullen Employee Benefits team share their superpowers and help you fight villains like noncompliance, penalties, and operational errors including; guarding against ineligible dependents with self-audit tips, decoding...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Be a nice family member, get your beneficiary forms in order

I hate death, I hate talking about death, the whole point of living is not dying. Yet, when it comes to setting things rights, I’ve done the best I can in terms of drafting a will and keep beneficiary forms up to date....more

Williams Mullen

[Webinar] Annual Benefits Forum: How To Be an ERISA Superhero - September 15th, 11:00 am - 12:30 pm EST

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Let the Williams Mullen Employee Benefits team share their superpowers and help you fight villains like noncompliance, penalties, and operational errors! You’ll be ready to: - Guard against ineligible dependents with our...more

Buchalter

EPCRS Provides More Retirement Plan Self-Correction Opportunities  

Buchalter on

On July 16, 2021 the IRS issued Revenue Procedure 2021-30, which modifies and supersedes Revenue Procedure 2019-19, expanding the Employee Plans Compliance Resolution System (“EPCRS”). EPCRS is a program for correcting...more

Bass, Berry & Sims PLC

DOL Begins Audit of Retirement Plans for Cybersecurity Shortfalls

Bass, Berry & Sims PLC on

To increase protections for the estimated $9.3 trillion in American retirement assets, the Department of Labor (DOL) has begun a new cybersecurity audit initiative for retirement plans. After providing its first set of...more

McDermott Will & Emery

Trust Registration Service: Who Is Affected?

The Fourth Money Laundering Directive ((EU) 2015/849) (MLD4) was implemented in the United Kingdom as a result of The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulation 2017 (SI...more

Foley & Lardner LLP

The DOL's New Missing Participant Guidance: Tips for Applying it in the Real World

Foley & Lardner LLP on

By now, you’ve probably read about the Department of Labor's new guidance on locating missing retirement plan participants. And, as you’re probably already aware, missing participants (and beneficiaries) can be a real...more

Shutts & Bowen LLP

Game Plan: Who Is On Your Estate Planning Team Roster?

Shutts & Bowen LLP on

Estate planning is a team effort and the lineup of individuals and professionals that you choose for your team roster will determine the integrity of your plan for years to come. An all-star lineup for your estate plan should...more

K&L Gates LLP

DOL Creates New E-Delivery Safe Harbor for Retirement Plan Disclosures

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EXECUTIVE SUMMARY - The Department of Labor (DOL) published final regulations that make significant strides in reducing barriers to the electronic delivery of a wide array of retirement plan disclosures. Specifically, the...more

Faegre Drinker Biddle & Reath LLP

New DOL Electronic Disclosure Rules – What You Need to Know

The Department of Labor (DOL) issued final electronic disclosure rules for retirement plans on May 27, 2020 (2020 Safe Harbor). We are already fielding questions about these new rules and have provided answers here to some of...more

Buckingham, Doolittle & Burroughs, LLC

The Secure Act | How SECURE are you in your estate plan? (video transcript)

In this transcript of the video below, attorneys Ron Wayne and Sarah Blank discuss the SECURE Act and the key provisions that may affect you....more

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