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Employee Benefits › 457(b) Plans › Employer Liability Issues

Best Best & Krieger LLP

403(B) Plan Employer Eligibility Failures

Best Best & Krieger LLP on

One of the principal drivers of 403(b) Plans for governmental agencies is that when they are combined with a governmental 457(b) Plan, employees eligible for both plans may “double dip.” This is a common scenario for...more

Verrill

IRS Issues Guidance Addressing Matching Contributions on Student Loan Payments

Verrill on

Section 110 of the SECURE 2.0 Act of 2022 (“SECURE 2.0”) permits employers maintaining a 401(k), 403(b), governmental 457(b), or SIMPLE IRA plan to make matching contributions based on qualified student loan payments...more

Verrill

Why Is There No IRS Correction Program for Non-Governmental 457(b) Plans?

Verrill on

This post examines excess deferrals under non-governmental 457(b) plans, including the approved method for correcting them and the penalty for failing to correct them, to make the case for a change in IRS policy on correcting...more

Bradley Arant Boult Cummings LLP

Don’t Overlook These 5 Benefits Issues Facing Higher Education Institutions

Bradley Arant Boult Cummings LLP on

All employers are faced with challenges and compliance risks associated with providing benefits to their employees. However, these risks and challenges can vary greatly by industry. Employers (and their advisors) who...more

Jackson Lewis P.C.

Updated: Did You Know California Has A State Mandated Retirement Plan?

Jackson Lewis P.C. on

Frequently Asked Questions About CalSavers Question: What is CalSavers? Answer: CalSavers is a new California law designed to encourage employees to save for retirement. CalSavers was originally called California Secure...more

Carlton Fields

Recent Change To Hardship Distributions Can Increase Employer Liabilities

Carlton Fields on

This alert should interest sponsors of retirement plans subject to IRC sections 401(k), 403(b), or 457(b) that authorize hardship distributions (often called “unforeseeable emergency distributions” in 457(b) plans)....more

Poyner Spruill LLP

New Projects and Updates From the IRS Employee Plans Compliance Unit

Poyner Spruill LLP on

The IRS Employee Plans Compliance Unit (EPCU) recently announced two new projects and updated two others. In each case EPCU is using compliance checks as a tool to increase IRS enforcement presence and ensure compliance....more

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