In the wake of the horrific wildfires in Los Angeles (which are ongoing as of today), employees based in the Los Angeles area may have questions about available support from employer-sponsored 401(k) plan accounts and other...more
1/14/2025
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SECURE Act ,
Wildfires
Approximately one year after Congress enacted the SECURE 2.0 Act of 2022 (“SECURE 2.0”), the IRS issued Notice 2024-02, which addresses SECURE 2.0 implementation issues and extends the plan amendment deadline. Although...more
1/17/2024
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Automatic Enrollment ,
Benefit Plan Sponsors ,
Employer Contributions ,
Incentives ,
Individual Retirement Account (IRA) ,
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New Guidance ,
SECURE Act ,
Student Loans
On Friday, the IRS released Notice 2023-62, which addresses certain pressing implementation issues related to the SECURE 2.0 requirement that catch-up contributions for participants with FICA wages of more than $145,000...more
ERISA Section 4010 requires a contributing sponsor of certain single-employer pension plans, as well as the sponsor’s controlled group members, to provide controlled group, financial, and actuarial information to the PBGC...more
As part of our continuing series on SECURE 2.0, signed into law December 29, 2022, this post focuses on significant changes for section 403(b) tax-sheltered annuity plans (“403(b) plans”). 403(b) plans are similar to 401(a)...more
As part of our ongoing series on SECURE 2.0, this post discusses three significant changes to corrections of common retirement plan errors: (1) New rules for correcting overpayments, (2) expansion of the Self-Correction...more
1/3/2023
/ Audits ,
Corporate Counsel ,
Defined Benefit Plans ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
EPCRS ,
Internal Revenue Code (IRC) ,
IRS ,
New Rules ,
Overpayment ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Self-Correction Programs
On August 17, 2022, the U.S. Court of Appeals for the Fifth Circuit held that a Department of Labor (“DOL”) advisory opinion, which found that an insurance plan was not governed by ERISA, was unenforceable under the...more