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Employer Liability Issues › Internal Revenue Code (IRC) › 403(b) Plans

Faegre Drinker Biddle & Reath LLP

(Auto) Enroll With It: Understanding the New Automatic Enrollment Requirements

Faegre Drinker Biddle & Reath LLP on

On January 10, 2025, the Treasury Department and the Internal Revenue Service issued Proposed Regulations on the automatic enrollment requirements introduced by SECURE 2.0.  The Proposed Regulations incorporate and expand...more

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

Faegre Drinker Biddle & Reath LLP

Things I Worry About (6): Automatic Enrollment (5) and PEPs

Faegre Drinker Biddle & Reath LLP on

SECURE 2.0 was enacted on December 29, 2022. Among its provisions is a requirement that “new” 401(k) plans and private sector 403(b) plans must automatically enroll their eligible employees, but not until the first plan year...more

Foley & Lardner LLP

401(k)/403(b) Loan Borrowers – Check Your Paystubs!

Foley & Lardner LLP on

A recent tax court case, Louelia Salomon Frias, v. Commissioner, TC Memo 2017-139, illustrates why it is good practice to verify that employee loan repayments have been timely deducted. Plan Loan Requirements. An employer...more

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