Williams Mullen's COVID-19 Comeback Plan: Preparing Today for Tomorrow's PPP Audit
The One Big Beautiful Bill Act (OBBBA), finalized and signed into law by President Trump on July 4, 2025, makes several key changes that impact employers, benefit plan sponsors and plan administrators....more
Financial wellness programs are becoming one of the most in-demand employee benefits and are the focus of this year’s National Employee Benefits Day. Employers can use April 2 as a day to evaluate the effectiveness of their...more
The Voluntary Fiduciary Correction Program (VFCP) has long been a source of reprieve to plan sponsors and fiduciaries from enforcement actions by the Department of Labor (DOL), by allowing the voluntary correction of a number...more
Employers now have a new benefit option in their toolbelt: The Qualified Student Loan Payment (QSLP) match. But is it worth implementing? Before diving into the specific legal requirements for a QSLP match program, this...more
Seyfarth Synopsis: On August 19, 2024, the IRS issued Notice 2024-63 (the “Notice”) providing guidance for plan sponsors that wish to provide matching contributions based on eligible student loan repayments made by...more
Student loan debt is a significant source of financial stress for borrowers, who face a hefty new line item in their budgets since the pause on student loan repayment ended in October 2023. Recent surveys show that student...more
The Department of Labor recently proposed updates to its Voluntary Fiduciary Correction Program (VFCP), which would allow fiduciaries the opportunity to self-correct certain matters including late deposits to a 401(k) plan....more
BSA Notice 2020-01 from the Employee Benefits Security Administration (EBSA) announced important relief for plan sponsors in connection with authorizing plan loans and distributions...more