News & Analysis as of

Proposed Regulation Retirement Plan Safe Harbors

Carlton Fields

Auto-Portability Providers Racing to Close Retirement Plan Gap

Carlton Fields on

For decades, both the federal and state governments have been working to tackle the coverage gaps in our retirement system. In the race for retirement readiness, dark horses like state plans with mandatory adoption...more

Davis Wright Tremaine LLP

New IRS Guidance on Long-Term, Part-Time Employee Retirement Plan Participation

New proposed regulations clarify how employers should implement retirement plan eligibility rules for long-term, part-time ("LTPT") employees. While some questions remain, the proposed regulations provide a number of welcome...more

Proskauer - Employee Benefits & Executive...

Department of Labor Finalizes New Safe Harbor for Electronic Delivery of Retirement Plan Disclosures

On May 21, 2020, the U.S. Department of Labor (the “DOL”) finalized its proposed regulation expanding electronic delivery for retirement plan disclosures. On balance, the final regulation is generally consistent with the...more

Kilpatrick

Deeper Dive into the new Electronic Disclosure Safe Harbor

Kilpatrick on

In April 2011, the U.S. Department of Labor (DOL) requested information from the public on how the DOL could structure a new safe harbor for electronic disclosures under ERISA. The DOL received hundreds of comments from...more

Laner Muchin, Ltd.

DOL Proposes New Electronic Disclosure Safe Harbor Rule For Retirement Plans

Laner Muchin, Ltd. on

In October, the Department of Labor issued proposed regulations that would allow retirement plan administrators to make required disclosures to participants accessible on a website; as opposed to requiring plan administrators...more

Seyfarth Shaw LLP

Proposed Regulations for Electronic Delivery of Retirement Plan Disclosures: The DOL Modernizes the Disclosure Rules

Seyfarth Shaw LLP on

On October 22, 2019, the Department of Labor (DOL) issued proposed regulations providing guidance for retirement plan administrators using electronic delivery for required disclosures, including a new safe harbor....more

Proskauer - Employee Benefits & Executive...

Guide to DOL’s New “Notice and Access” Proposal for Electronic Delivery

On October 23, 2019, the Department of Labor published a new proposed regulation that paves the way for “notice and access” electronic delivery of certain disclosures for retirement plans. The proposal is welcome news for...more

Miller Canfield

Proposed Hardship Distribution Regulations Mean Changes for 401(k) and 403(b) Plan Sponsors

Miller Canfield on

Employer-sponsors of certain retirement plans have work to do prior to the end of 2019. Sponsors of Internal Revenue Code ("Code") section 401(k) and 403(b) plans must analyze their plan documents and associated...more

Holland & Knight LLP

IRS Adds 2019 Updates to Operational Compliance List

Holland & Knight LLP on

• The Internal Revenue Service (IRS) has updated its Operational Compliance List for retirement plans with a number of changes that take effect in 2019, with a focus on changes to hardship distributions. • The Operational...more

McCarter & English, LLP

IRS Proposed Regulations Relax Requirements For Hardship Distributions

The IRS recently issued proposed regulations relating to hardship distributions under 401(k) plans. The proposed regulations generally clarify or supplement recent statutory changes, including those made by the Bipartisan...more

Verrill

Proposed Regulations on 401(k) Hardship Withdrawals

Verrill on

Last month, the Treasury Department issued highly anticipated proposed regulations governing hardship withdrawals from 401(k) plans. The proposed regulations address recent statutory changes made to the hardship withdrawal...more

Bradley Arant Boult Cummings LLP

IRS Proposed Regulations on Hardship Distributions: What Plan Sponsors and Administrators May Do Now and Must Do Later - Employee...

The Internal Revenue Service (IRS) has issued proposed amendments to the regulations governing hardship distributions under 401(k) and 403(b) plans. Many plan administrators of 401(k) and 403(b) plans permitting hardship...more

Nelson Mullins Riley & Scarborough LLP

Year-End Preparation and Hardship Withdrawals

With Thanksgiving on the horizon, now is the time to check on end of year changes for compliance for your 401(k), 403(b) and other defined contribution pension plans. ...more

Proskauer - Employee Benefits & Executive...

Treasury and IRS Issue Eagerly-Awaited Guidance on Hardship Distributions – with a Few Surprises

Last Friday, the IRS issued eagerly-awaited proposed regulations regarding hardship distributions under section 401(k) and 403(b) plans (the “Proposed Regulations”). The Proposed Regulations primarily address hardship...more

Kilpatrick

IRS Proposes New Hardship Distribution Regulations; Regulations to Prohibit Deferral Suspensions Beginning 2020 and Provide a New...

Kilpatrick on

The Internal Revenue Service (“IRS”) has issued proposed regulations that would change the rules for hardship distributions from 401(k) and 403(b) plans. The hardship distribution rules allow participants in these plans who...more

Franczek P.C.

IRS Issues Proposed Rules on Normal Retirement Age for Governmental Plans

Franczek P.C. on

The Internal Revenue Service (IRS) has issued proposed regulations relating to the definition of normal retirement age for governmental retirement plans. In 2007, the IRS issued regulations regarding normal retirement age for...more

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