News & Analysis as of

Excise Tax Employee Benefits 401k

Kelley Drye & Warren LLP

Simplified Option for Correcting Certain Retirement Plan Failures

Earlier this year, the U.S. Department of Labor (“DOL”) amended its Voluntary Fiduciary Compliance Program (“VFCP”) to provide retirement plan sponsors with a simplified option for correcting certain specified prohibited...more

Foley & Lardner LLP

Don’t You Forget About Me: Terminating Employees and Benefits to Think About

Foley & Lardner LLP on

No matter the size of your organization, at some point in time employees leave. As we noted previously, it behooves human resources and other departments to provide departing employees with an exit letter that includes...more

Harris Beach Murtha PLLC

SECURE 2.0 Act of 2022 - What it Means for Retirement Plan Distribution Rules

The SECURE 2.0 Act of 2022 (“SECURE 2.0”) was enacted on December 29, 2022, as Division T of the Consolidated Appropriations Act, 2023, the U.S. federal government’s spending bill for fiscal year 2023. SECURE 2.0 builds upon...more

Jackson Lewis P.C.

SECURE 2.0 Series Part 3: Retirement Plan Required Minimum Distribution Age to Increase to 75

Jackson Lewis P.C. on

Most Americans prefer not to pay more in income tax than absolutely required or to pay taxes any sooner than necessary. This includes many retired individuals who do not need to tap into their employer-sponsored retirement...more

Fisher Phillips

10 Most Significant Employee Benefits Law Changes in 2023’s Federal Spending Bill

Fisher Phillips on

Besides ensuring the federal government remains fully funded, President Biden’s signature Thursday on the Continuing Appropriations Act, 2023 (CAA 23) contains several provisions that will directly impact health and...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Make sure RMDs are made

In the past 35 years, it changed on who had to take out a required minimum distribution (RMD) from a qualified retirement plan. Thankfully, it hasn’t changed since 1997. So a person who is a 5% owner has to take out an RMD...more

Holland & Hart - Employers' Lawyers

What Do Your Executives Have In Common With Seven-Figure Income College Coaches?

Tax-exempt organizations may be surprised to learn of the practical impact of a statute enacted as part of the Tax Cuts and Jobs Act in December 2017. Section 4960 of the Internal Revenue Code immediately put in place...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

Morrison & Foerster LLP

The Final Tax Cuts and Jobs Act’s Effects on Executive Compensation and Employee Benefit Practices

On December 20, 2017, the Tax Cuts and Jobs Act (the “Act”) was approved by Congress, and it was signed into law by President Trump on December 22, 2017. The Act dramatically impacts certain aspects of executive compensation...more

Proskauer - Tax Talks

House of Representatives Passes the Tax Cuts and Jobs Act (H.R. 1); Senate Finance Committee Approves Modified Version; Comparison...

Proskauer - Tax Talks on

Yesterday afternoon, the House of Representatives passed the Tax Cuts and Jobs Act (H.R. 1) (the “House bill”). The House bill is identical to the draft bill approved by the House Ways and Means Committee on November 10. Late...more

Carlton Fields

DOL Proposal Would Fundamentally Alter Fiduciary Relationship

Carlton Fields on

Nearly five years after proposing a failed rule that would have dramatically expanded the definition of fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA), the Department of Labor has decided to try...more

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