Anna Mikhaylina

Anna Mikhaylina

Verrill

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Use of Retirement Plan Forfeitures: The IRS Proposed Regulations, Recent Litigation, and the DOL’s Position

In five recently filed class action lawsuits, 401(k) plan participants allege that plan fiduciaries violated ERISA by using plan forfeitures to offset employer contributions instead of paying plan expenses. The use of...more

12/8/2023  /  Department of Labor (DOL) , Employee Benefits , Employee Retirement Income Security Act (ERISA) , ERISA Litigation , Forfeiture , Internal Revenue Code (IRC) , IRS , Proposed Regulation , Retirement Plan

Establishing Practices and Procedures to Support Retirement Plan Self-Correction

The opportunity to self-correct mistakes in maintaining a retirement plan has been dramatically expanded by the SECURE 2.0 Act of 2022 (“SECURE 2.0”); see our February 10 blog post for details. However, IRS interim guidance...more

7/6/2023  /  Benefit Plan Sponsors , Employee Benefits , Policies and Procedures , Retirement Plan , SECURE Act , Self-Correction Programs

Pension-Linked Emergency Savings Accounts: Something Old, Something New, Something Borrowed, Something Forthcoming

Following the initial flurry of publications summarizing the retirement plan enhancements under the SECURE 2.0 Act of 2022 (“SECURE 2.0”), this post takes a deeper dive into one of those enhancements: the optional...more

1/25/2023  /  Benefit Plan Sponsors , Employee Benefits , Employee Contributions , Employees , Employer Contributions , Internal Revenue Code (IRC) , Retirement Plan , Savings Accounts , SECURE Act

Amending Your Retirement Plans this Year for SECURE Act and CARES Act Changes

Last month, the IRS extended the deadline for retirement plan sponsors to adopt amendments necessary to comply with the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) and the Bipartisan...more

9/7/2022  /  Benefit Plan Sponsors , CARES Act , Deadlines , Employee Benefits , Employer Liability Issues , Retirement , Retirement Plan , Retirement Plan Providers , SECURE Act
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