News & Analysis as of

Employee Benefits Pension Plan Amendments

Lowenstein Sandler LLP

Defined Benefit Plans: Mitigating Pension Liabilities in a Business Transaction

Lowenstein Sandler LLP on

On the latest episode of “Just Compensation,” Andrew E. Graw, Taryn E. Cannataro, and Jessica I. Kriegsfeld address single-employer defined benefit plans in the context of a business transaction, and the potential liabilities...more

Fisher Phillips

IRS Grab Bag Brings Clarity to Certain SECURE Act 2.0 Provisions: 6 Biggest Points for Employers

Fisher Phillips on

Employers that sponsor retirement plans continue to have a lot on their plate. With SECURE Act 2.0 requirements now in play, this legislation continues to add more and more to your (already) overflowing plate. However, as is...more

Miller Canfield

IRS Issues Grab Bag Notice Addressing Various SECURE 2.0 Provisions

Miller Canfield on

The IRS recently issued Notice 2024-02— dubbed the “Grab Bag Notice”— which addresses multiple provisions in SECURE 2.0. The guidance is 81 pages long, comes in the form of frequently asked questions and answers, and speaks...more

Laner Muchin, Ltd.

SECURE 2.0 Guidance Provides Retirement Plans Much Needed Clarity

Laner Muchin, Ltd. on

The IRS recently issued Notice 2024-2, which provides Q&A guidance on many provisions of the SECURE 2.0 Act, which had left employers and practitioners asking questions. We previously summarized several of the key changes...more

Eversheds Sutherland (US) LLP

IRS SECURE 2.0 guidance answers key questions

The IRS released long-awaited guidance under the SECURE 2.0 Act on December 20, 2023. Notice 2024-2 (Notice) provides clarification of various provisions, including several optional features that plan sponsors have been...more

Bricker Graydon LLP

Small Change to Cash-Outs Could have Large Financial Effect

Bricker Graydon LLP on

Beginning this year, plan sponsors may increase their qualified plan’s mandatory cash-out limit from $5,000 to $7,000. The increase was enacted by SECURE 2.0, and applies to distributions made after December 31, 2023....more

Bricker Graydon LLP

New Optional In-Service Withdrawal Right for Domestic Abuse Victims

Bricker Graydon LLP on

The next installment of our updates on SECURE 2.0 is on another new in-service withdrawal option. SECURE 2.0 allows plan sponsors of defined contribution plans to amend their plans to allow plan participants who are victims...more

Houston Harbaugh, P.C.

Sponsors of 401(k) Plans Without Roth Provisions May Want to Add Them Before 2024

Houston Harbaugh, P.C. on

Our prior bulletin summarized the multitude of changes applicable to 401(k) and other retirement plans under the recently enacted “SECURE 2.0” law. This bulletin focuses on one of those changes and a potential reason for...more

Bennett Jones LLP

New Pension Priorities in Bankruptcy and Insolvency Are Closer to Reality

Bennett Jones LLP on

Federal Bill C-228 (the Bill), new legislation intended to improve the protection of, and to extend the super-priority given to claims relating to, defined benefit pension plans in insolvency proceedings, completed third...more

Tucker Arensberg, P.C.

New Legislation Commonly Called “SECURE 2.0” was Recently Passed by Congress

Tucker Arensberg, P.C. on

New legislation commonly called “SECURE 2.0” was passed by Congress last week and signed into law on Tuesday by President Biden. The new legislation includes almost 100 different changes that are linked to retirement plans. ...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Provides Plan Amendment Deadline Relief

Earlier this year, the Internal Revenue Service (IRS) issued Notice 2022-23, which extended the deadline to make certain amendments pursuant to the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019,...more

Miller Canfield

IRS Delays Additional Amendment Deadlines for Major Retirement Legislation

Miller Canfield on

The IRS has extended additional deadlines for required retirement plan amendments, similar to the extensions we discussed last month found here. Notice 2022-45 extends the deadline for amending qualified retirement plans to...more

Miller Canfield

IRS Delays Additional Amendment Deadlines for Major Retirement Legislation

Miller Canfield on

The IRS has extended additional deadlines for required retirement plan amendments, similar to the extensions we discussed last month found here. Notice 2022-45 extends the deadline for amending qualified retirement plans to...more

Miller Canfield

IRS Delays Amendment Deadlines for Major Retirement Legislation

Miller Canfield on

The IRS has issued a notice extending the deadline for retirement plan sponsors to make certain amendments required by recently passed legislation. Notice 2022-33 extends the deadline for amending qualified retirement plans...more

Ballard Spahr LLP

IRS Issues Guidance and Relief Regarding 403(b) Plan Amendments

Ballard Spahr LLP on

The Internal Revenue Service has announced that, in light of the COVID-19 pandemic, its March 31, 2020, deadline for remedial amendments to section 403(b) plans has been extended to June 30, 2020....more

Williams Mullen

Plan Administrators’ 2017 Year-End Checklist

Williams Mullen on

Plan administrators should review the following actions to be taken before the end of 2017 and focus on what to expect for 2018. The attached checklist addresses plan amendments, notices and other considerations for qualified...more

Proskauer - Employee Benefits & Executive...

Sixth Circuit: ERISA Exhaustion Not Required in Plan Amendment Suit

The Sixth Circuit held that retirement plan participants were not required to exhaust their administrative remedies prior to bringing a claim alleging that a plan amendment violated ERISA....more

Jackson Lewis P.C.

Last Day of Remedial Amendment Period for 403(b) Plans is March 31, 2020

Jackson Lewis P.C. on

Eligible employers sponsoring Code Section 403(b) retirement plans have until March 31, 2020 to self-correct any defects as to the written form of those plans. In recently issued Revenue Procedure 2017-18, the IRS fixed March...more

Foley & Lardner LLP

The IRS Tosses Plan Sponsors a Curveball: New Guidance Throws Out One Method of Pension Plan De-Risking

Foley & Lardner LLP on

In recent guidance, the IRS surprised plan sponsors with its plan to prevent them from using one means of “de-risking” their defined benefit pension plans to reduce their pension plan liabilities. In Notice 2015-49, the IRS...more

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