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Retirement Plan › Employee Contributions › Corporate Counsel

BCLP

Prepare Now for Mandatory Roth Catch-Up

BCLP on

Proposed Treasury regulations relating to catch-up contributions were issued in January of 2025 that include guidance for the mandatory Roth catch-up requirement, which was first provided under section 603 of Division T of...more

Seyfarth Shaw LLP

“SECURE-ing” the Answers to Outstanding Questions on the Rothification of Employer Contributions

Seyfarth Shaw LLP on

Seyfarth Synopsis: Under Section 604 of Secure 2.0, sponsors of 401(k), 403(b) and governmental plans may allow employees to designate employer match (including match on student loan repayments) or nonelective contributions...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

SECURE 2.0 Retirement Legislation Has Arrived in Style and Is Here to Stay: Top 10 Contribution-Related Provisions

Ogletree, Deakins, Nash, Smoak & Stewart,... on

After months of suspense and intrigue on whether SECURE 2.0 would make it to the finish line and become law, the U.S. Congress ended the suspense by attaching SECURE 2.0 to the Consolidated Appropriations Act, 2023 funding...more

Fisher Phillips

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

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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

Jackson Lewis P.C.

Illinois Expands Its Secure Choice Mandatory Retirement Savings Program

Jackson Lewis P.C. on

Employers in Illinois with at least 5 employees must soon comply with the Illinois Secure Choice Savings Program Act (Secure Choice) or offer employees an employer-sponsored retirement plan...more

Fox Rothschild LLP

NYC Will Require Mandatory Retirement Savings For All Private Sector Employees

Fox Rothschild LLP on

On May 11, 2021, Mayor Bill de Blasio signed into law legislation that will require private sector employers located in New York City to provide a mandatory retirement savings program for their employees. As a result, New...more

Proskauer - Law and the Workplace

The Third Circuit Finds No Age Discrimination Related to Virgin Islands Law That Encouraged Long-Tenured Employees to Retire

Proskauer - Law and the Workplace on

The Third Circuit recently issued a significant opinion in Bryan v. Government of the Virgin Islands, Case No. 18-1941, 2019 WL 661822 (3rd Cir. February 19, 2019) holding that the Virgin Islands did not violate the Age...more

Seyfarth Shaw LLP

Fourth Circuit Sides With EEOC: Back Pay Damages Are Mandatory Under The ADEA

Seyfarth Shaw LLP on

Seyfarth Synopsis: Although back pay has been awarded in Age Discrimination in Employment Act (ADEA) cases for quite some time, few courts have specifically addressed whether these damages are discretionary or mandatory. In...more

Seyfarth Shaw LLP

Surprise!: Decertification Does Not End Employer Contribution Obligations to the Multiemployer Funds

Seyfarth Shaw LLP on

Seyfarth Synopsis: Seventh Circuit finds employer still obligated to contribute to benefit funds for the life of the CBA even though the employees decertified the union. Employers often assume that when their...more

Littler

Mandatory Payroll Deduction Savings Programs Are on the Rise

Littler on

According to the U.S. Department of Labor (DOL), one-third of American workers do not have the option to participate in a retirement savings plan through their employers. To help employees save for retirement, more states are...more

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