News & Analysis as of

Small Business Retirement Plan

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Another Year, Another Reminder: Fees Still Matter – Especially for Small Plans

The just-released 25th Edition of the 401k Averages Book confirms what many of us on the fiduciary side have known—and preached—for years: fees continue to fall, but not evenly. While this is welcome news, it’s also a wake-up...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Ones Who Were There (and the Ones Who Weren’t)

In this business—the retirement plan business, the ERISA world—you don’t build anything alone. You might draft the documents, run the meetings, fix the failures, and chase the clients, but if you’re lucky, a few people walk...more

ArentFox Schiff

Unlocking Success: How ESOPs Empower Small Businesses and Employees

ArentFox Schiff on

Employee Stock Ownership Plans (ESOPs) are unique employee benefit plans designed to invest primarily in the stock of the sponsoring employer....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

State Run Plans near $2 billion in assets

State-run retirement programs, including automatic individual retirement accounts (IRAs), are expanding access to retirement savings, with total assets nearing $2 billion. However, a new study from the Georgetown University...more

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

Alabama Eyes Portable Benefits for Freelancers and Gig Workers

Certain states have considered enacting legislation facilitating the creation of portable benefit accounts for independent contractors, including gig economy workers. These accounts attach to the individual worker rather than...more

Pillsbury - Propel

Savings Plans for Startups

Pillsbury - Propel on

Opening a retirement savings plan for employees (including founders!) is often a low-priority issue for startups and small businesses, but several states, including California, are trying to change that. In 2016, the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Small businesses have issue with plan creation

The small business part of the 401(k) business is a bit tough, a recent survey shows that. A survey from Capital Group found that main reasons for small businesses not creating retirement plans were costs, complexity,...more

Tucker Arensberg, P.C.

New Legislation Commonly Called “SECURE 2.0” was Recently Passed by Congress

Tucker Arensberg, P.C. on

New legislation commonly called “SECURE 2.0” was passed by Congress last week and signed into law on Tuesday by President Biden. The new legislation includes almost 100 different changes that are linked to retirement plans. ...more

Troutman Pepper Locke

Requirement for California Small Business Retirement Plans Takes Effect Today

Troutman Pepper Locke on

If you own a small business in California, you may be one of an estimated 240,000 employers required to offer retirement plans to all adult employees. Last year, California mandated that employers with more than 50 employees...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

It’s not that SIMPLE

Small business plans are a challenge to me because there aren’t many situations where that will help grow my practice. When it comes to plan documents, I can’t compete with free plan documents from the plan custodian....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Plan Terminations will cause leakage

If you look at the stock market, you wouldn’t know unemployment is 10% and that 180,000 Americans died....more

Jackson Lewis P.C.

Guidance to Make Us Feel More SECURE

Jackson Lewis P.C. on

Notice 2020-68 from the IRS provides valuable clarification for sponsors of qualified plans, 403(b) plans, and 457(b) governmental plans, as well as IRA holders, related to certain provisions in the Setting Every Community Up...more

Bass, Berry & Sims PLC

COVID-19: CARES Act Changes To Retirement Plans, Health Plans And other Employee Benefits

On March 27, the House voted overwhelmingly to approve H.R. 748—the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)—a $2.2 trillion package with a stated purpose of providing emergency assistance and healthcare...more

Chambliss, Bahner & Stophel, P.C.

Latest Highlights for PPP Loan Forgiveness – 24-Week Covered Period, EZ Application, Owner-Employee Details, & More

The Small Business Administration (SBA) and Treasury Department have issued a new interim final rule, as well as a revised Paycheck Protection Program (PPP) loan forgiveness application and instructions, and an “EZ” loan...more

Gerald Nowotny - Law Office of Gerald R....

When Dr. Strangelove Met Jimmy Hoffa

Collective Bargaining Exemption to create a win-win situation for business owners and employees. ...more

Morgan Lewis

COVID-19: Cares Act Provisions Impacting The Banking Sector

Morgan Lewis on

The Coronavirus Aid, Relief, and Economic Security (CARES) Act offers broad-based economic support for companies contending with the disruptions caused by the coronavirus (COVID-19) pandemic. ...more

Butler Snow LLP

CARES Act – Retirement Plan Distribution and Loan Rules Liberalized

Butler Snow LLP on

With the economic fallout from the public health measures taken to mitigate the spread of the SARS-CoV-2 virus and COVID-19 disease, many employers have had to resort to unprecedented employment actions, including...more

Foster Garvey PC

The Cavalry Has Arrived – Congress Passed and President Trump Signed Into Law the CARES Act

Foster Garvey PC on

A Succinct Summary of the Key Tax Provisions - On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (colloquially, the “CARES Act” or the “Act”). The CARES Act is a...more

Hutchison PLLC

Client Alert: Joint Guidance Gives Immediate Relief to Small and Midsize Businesses

Hutchison PLLC on

The IRS and DOL recently issued joint guidance enabling small and midsize employers to begin taking advantage of two new refundable payroll tax credits which are designed to immediately and fully reimburse them,...more

Buckingham, Doolittle & Burroughs, LLC

How SECURE is your estate plan?

Secure Act may significantly impact your beneficiaries. Effective January 1, 2020, the Setting Every Community Up for Retirement Enhancement Act (known as the “SECURE Act”) will impact many individuals with retirement plan...more

Verrill

The SECURE Act

Verrill on

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) is the most far reaching new law affecting retirement benefits in more than a decade. This Client Advisory highlights key aspects of the...more

Morgan Lewis

SECURE Retirement Legislation Becomes Law: Overview of Provisions Affecting Retirement Plans

Morgan Lewis on

The SECURE Act—the most impactful retirement plan legislation since the Pension Protection Act of 2006—was included in the bipartisan spending bill signed by US President Donald Trump on December 20, 2019. The SECURE Act will...more

McDermott Will & Emery

Weekly IRS Roundup November 18 – 22, 2019

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 18 – 22, 2019. November 19, 2019: The IRS published final regulations that affect United...more

Flaster Greenberg PC

New ERISA Regulation Expands Access to 401(k) Plans for Small Employers

Flaster Greenberg PC on

In response to an Executive Order issued by the President last year directing regulatory action to expand access to workplace retirement plans, the U.S. Department of Labor (DOL) issued final regulations on the definition of...more

McNees Wallace & Nurick LLC

DOL Seeks to Expand Small Business Retirement Plans by Issuing Final Rule on Association Retirement Plans and Other Multiple...

On July 29, 2019, the Department of Labor issued final rules clarifying when an employer group or association, or professional employer organization (“PEO”) may sponsor a defined contribution multiple employer retirement plan...more

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