PODCAST: Williams Mullen's Benefits Companion - Employee Stock Ownership Plans (ESOPs) Explained
Podcast: Discussing and Demystifying the IRS News Release on ESOPs
(A)ESOP's Fables - The Income and Estate Tax-Free ESOP
Investment Management Update – Exit Strategies
ESOPs: A Path to Bank Independence
Happy Spring from the Kaufman & Canoles ESOPs, Benefits & Compensation team! We hope you’re shaking off the winter blues and ready for another round of benefits updates. ...more
The following checklist highlights key issues for corporate counsel with respect to employee benefit plans and executive compensation arrangements....more
On behalf of the ESOPs & Employee Benefits team, we hope you’re enjoying the first days of Spring, when the longer days allow more time to ponder the ever-changing landscape of employee benefits compliance. Please find below...more
It is no secret that many businesses minimize risk by requiring arbitration of disputes on an individual basis. The exposure created by a single claim pales next to that presented by a class claim, asserted under Rule 23, on...more
The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social...more
Retirement Plan RMD Updates Bring Employers New Challenges - Among the many other tasks retirement plan sponsors must navigate, they need to focus on a few new rules aimed at required minimum distributions (or “RMDs”). While...more
The IRS has announced the 2021 dollar limits impacting retirement plans and IRAs. The agency also issued welfare plan limits, as well as ACA penalties. The chart below summarizes these 2021 figures along with the...more
The IRS has recently issued to document vendors opinion letter approvals for updated pre-approved defined contribution plan documents. This starts the next cycle of required defined contribution plan document restatements. If...more
As the COVID-19 pandemic continues to unfold, many employers are faced with questions about the impact of economic changes and workforce reductions on their compensation and benefits arrangements. This alert is intended to...more
At the heart of tax qualified retirement plan compliance is a requirement to timely adopt plans and plan amendments. Failure to adopt plan amendments when required can result in plan disqualification. Accordingly, it is very...more
The IRS has announced the dollar limits for contributions and benefits in retirement plans and certain deferred compensation plans for 2020. We have compiled a chart summarizing the key limits below, including how they...more
• Some retirement plans, including employee stock ownership plans (ESOPs), have in the past few years included terms and provisions that require participant breach of fiduciary claims to be resolved in arbitration on a...more
With annual enrollment in full steam ahead mode, we have now received a number of remaining limits from the Internal Revenue Service. Attached is a chart that shows all of the limits for both retirement and welfare benefit...more
Plan Features And Services Aren't A Fit For Every Plan Sponsor. There is nothing out there that is a fit for everything. Did you ever buy a car and the dealer was trying to sell you things you didn't really need like...more
As 2017 comes to an end, we are happy to present our traditional End of Year Plan Sponsor “To Do” Lists. This year, we are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered year-end...more
In Revenue Procedure 2017-41, the IRS makes significant changes to the procedures that it will use in reviewing and approving “pre-approved” retirement plans. The revenue procedure applies to almost all types qualified...more
Concepts You May Not Be Aware Of As A 401(k) Plan Sponsor. Quite a few things out there. As a child, I was never taught the birds and the bees. I was actually handed some cartoon book from my parents when I was...more
On April 14, 2015, the U.S. Department of Labor (DOL) issued new proposed regulations that changed the definition of “fiduciary investment advice” as currently found in DOL Regulation 2510.3-21(c). These proposed rules also...more
A federal district court has permitted plaintiffs to pursue class actions against the fiduciaries of two Eastman Kodak defined contribution plans on the ground that those fiduciaries failed to prudently manage the plan funds....more