News & Analysis as of September 14, 2024

401k

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Deferred Compensation is a financial arrangement whereby a portion of an employee's current wages are distributed at a later time, usually to delay tax liability. Deferred compensation often takes the form of... more +

To 457(b) or Not to 457(b): Five Rules You Must Follow to Keep Your 457(b) Plan Compliant

Foley & Lardner LLP on 3/29/2024

Recruiting and retaining top executives can be challenging for non-governmental tax-exempt organizations such as Code §501(c)(3) organizations, private universities, and certain healthcare organizations (Nonprofits). Not only...more

Order of Benefit Deductions from Employee Pay

Verrill on 2/18/2021

From time to time we field questions about the order in which deductions for various employee benefits (e.g., 401(k) plan elective deferrals and insurance premiums for welfare benefit plan benefits) should be taken from an...more

DOL Relief for Late Salary Deferral Deposits

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on 5/29/2020

As a result of the Coronavirus pandemic, I have consistently said that plan sponsors still have their fiduciary duties to fulfill in terms of their sponsorship of the plan and their deposit of salary deferrals as soon as...more

Correct the late deferral issue correctly

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on 11/20/2019

Correcting your late deferrals by depositing them and making a contribution to make up for lost earnings in your 401(k) plan isn’t enough....more

Maybe a 401(k) Salary Deferral Procedure should be a thing?

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on 12/10/2018

I recently go through a harrowing Department of Labor (DOL) audit over the late deposit of salary deferrals. What was the problem for the client was multiple locations and multiple payroll providers and previous third-party...more

New Disability Claims Procedures Affect Retirement Plans and Deferred Compensation Plans Too

Verrill on 8/8/2018

Much has been written about the Department of Labor’s final rule regarding disability benefit claims procedures (the “Final Rule”), which took effect on April 2, 2018. And by now, most employers – and all disability insurance...more

On The Form 5500, sometimes the answer lands you in trouble

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on 7/27/2018

When you’re filing that Form 5500, just notice that certain answers may likely lead you to an Internal Revenue Service or Department of Labor audit....more

Action Needed by Certain ERISA Plans – New Disability Claims Procedures Apply Beginning April 2018

Bass, Berry & Sims PLC on 3/8/2018

In January 2018, the U.S. Department of Labor (DOL) announced that final regulations affecting how some ERISA plans process claims and appeals will apply beginning April 1, 2018. As explained below, the final regulations...more

ERISA Newsletter - Fourth Quarter 2017

Proskauer Rose LLP on 1/9/2018

Editor's Overview - For over two decades, federal law has required covered health plans and insurers to ensure that certain mental health benefits are in parity with offered medical/surgical benefits. The meaning of...more

Beltway Buzz - November, 2017 #2

Ogletree, Deakins, Nash, Smoak & Stewart,... on 11/13/2017

Now You See It, Now You Don’t—Revised House and Senate Tax Reform Proposals Differ in Treatment of Executive Compensation. As we reported in last week’s Beltway Buzz, the House introduced its tax reform proposal last...more

The Rosenbaum Law Firm Review - October 2015

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on 10/27/2015

Bundled vs. Unbundled 401(k) Plan Providers: The Choice Is Not Clear. Not an easy choice. In our lives, there are times when we have two important choices. It's Coke vs. Pepsi, Mac vs. PC, Xbox vs. PlayStation...more

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Deferred Compensation › Department of Labor (DOL) › 401k

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