Cybercrime increased exponentially in 2020 and into 2021, starting with the disruption caused by COVID-19 and the migration to a work from home environment. Phishing emails were up 35 times and ransom attacks were up 150...more
The American Rescue Plan Act of 2021 (“ARPA”), which was signed into law on March 11, 2021, includes a number of provisions relating to health and welfare plans that will be beneficial to many Americans. In addition, ARPA...more
The U.S. Department of Labor (“DOL”) on August 18, 2020, issued an interim final regulation (the “Regulation”) requiring the inclusion of lifetime income illustrations in the benefit statements provided to participants in...more
9/20/2020
/ 401k ,
Benefit Plan Sponsors ,
Comment Period ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary ,
Interim Rule ,
Lifetime Income Disclosures ,
Limited Liability ,
Request For Information ,
Retirement Plan ,
SECURE Act
The Internal Revenue Service (the “IRS”) issued final regulations, effective September 23, 2019 (the “Final Regulations”), that modify the hardship distribution rules for plans established under Section 401(k) of the Internal...more
10/4/2019
/ 401k ,
Benefit Plan Sponsors ,
Bipartisan Budget Act ,
Final Rules ,
Hardship Distributions ,
Internal Revenue Code (IRC) ,
IRS ,
Pension Protection Act of 2006 ,
Retirement Plan ,
Retirement Plan Providers ,
Tax Cuts and Jobs Act
The Internal Revenue Service (the “IRS”) on July 21, 2015, issued Announcement 2015-19, describing important changes to the determination letter program for individually designed tax-qualified retirement plans. These changes...more