PODCAST: Williams Mullen's Benefits Companion - Can Employers Impose a Health Insurance Surcharge on Plan Participants Not Vaccinated for COVID-19?
SECURE 2.0 provided employees better access to liquid assets during a major life crisis. We have previously discussed the domestic abuse victim distribution exemption and the emergency personal expense distribution exemption...more
The Department of Labor (DOL) has issued long-awaited guidance on what it views as appropriate procedures for retirement plans to locate missing or nonresponsive participants. Plan sponsors and fiduciaries of all retirement...more
In a recent revenue ruling, the IRS stated that if a participant or a beneficiary doesn’t cash a distribution check in the year it was issued, the individual still must include the amount in gross income for that year....more
On August 14, 2019, the IRS issued Revenue Ruling 2019-19, providing guidance to both tax-qualified plan administrators and participants on the tax treatment of plan distribution checks that are not cashed. ...more
In the past year, the Department of Labor (DOL) has drastically increased audits of retirement plans with participants – or beneficiaries – who cannot be located in conjunction with the distribution of owed benefits. ...more