In the June 3 issue of Employee Plans News, the Internal Revenue Service announced a pilot program to give employers whose qualified retirement plans have been selected for audit a 90-day window during which they are...more
The past 15 years have witnessed a steady stream of lawsuits alleging that employers’ 401(k) or 403(b) plans forced participants into underperforming or overpriced investment options, or that plan participants’ accounts were...more
1/28/2022
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Class Action ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fees ,
Fiduciary Duty ,
Hughes v. Northwestern University ,
SCOTUS
On June 29, 2020, the IRS released additional guidance to help employers cope with the financial strain of the COVID-19 pandemic. This time, in Notice 2020-52, the IRS has clarified, and in some cases temporarily relaxed,...more
In a previous alert, IRS Adopts Final Regulations Changing Hardship Distributions, we analyzed the IRS’s recently issued final hardship distribution regulations....more
Most Employers Need to Make Plan Document and Administrative Changes -
In late 2018, the Internal Revenue Service (“IRS) proposed changes to the 401(k) regulations governing hardship distributions....more