News & Analysis as of

Retirement Plan Benefit Plan Sponsors Compensation & Benefits

Alston & Bird

Do You Need to Send an Annual Notice to Plan Participants?

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If so, you may need to do so by December 1, 2024. Our Employee Benefits & Executive Compensation Group reviews the multiple year-end notices that defined contribution plans must issue to participants....more

Alston & Bird

Retirement Plan Amendments and 2024 Year-End Action Items

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Our Employee Benefits & Executive Compensation Group reminds plan sponsors to get ready for 2024 IRS year-end amendments and offers year-end action items....more

Bricker Graydon LLP

New IRS Guidance for Long-Term Part-Time Employees in ERISA covered 403(b) Plans at Private, Non-Profit Institutions of Higher...

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In potentially welcome news for public institutions of higher education, in Notice 2024-73, the Internal Revenue Service (IRS) confirmed that the new long-term part-time (LTPT) rules introduced by the SECURE Act and SECURE...more

Miller Canfield

IRS Weighs in on Inadvertent Benefit Overpayments

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Earlier this week, the IRS released Notice 2024-77, which provides much-anticipated guidance related to the handling of so-called “inadvertent benefit overpayments” from qualified retirement plans under the SECURE 2.0 Act. ...more

Nelson Mullins Riley & Scarborough LLP

IRS Reminder: Deadlines Extended for Retirement Plan Amendments but Compliance Still Required

On September 12, the IRS reminded plan sponsors to review and comply with IRS Notice 2024-02 (the “Notice”), which extended and consolidated deadlines for employers and others sponsoring 401(k), 403(b), 457(b) and other...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - New IRS Guidance on SECURE 2.0 Act Student Loan Employer Contributions

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On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt discusses the recent IRS guidance regarding provisions under the SECURE 2.0 Act which allows employers to make matching contributions on account of...more

Laner Muchin, Ltd.

IRS Finalizes Required Minimum Distribution Regulations

Laner Muchin, Ltd. on

The IRS recently published its final regulations addressing changes to Tax Code Section 401(a)(9), relating to required minimum distributions (RMDs), under the Setting Every Community Up for Retirement Enhancement Act of 2019...more

Pullman & Comley, LLC

It’s Not Spam: Why Your Retirement Plan Vendor May Be Trying to Get Your Attention (and Why You Should Respond)

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The Secure 2.0 Act of 2022 authorizes numerous new provisions that employers can choose to include or exclude in the retirement plans they sponsor. Recently, retirement plan vendors (vendors) have been sending communications...more

Lowenstein Sandler LLP

How the Structure of Your M&A May Impact Your Workforce

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On the latest episode of Just Compensation, Lowenstein’s Darren Goodman, Megan Monson, and Jessica Kriegsfeld of the Executive Compensation, Employment and Benefits practice discuss how the structure of an M&A transaction...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - Understanding Lifetime Income Products

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On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined by Ken Barnes, senior investment consultant with SageView Advisory Group, who discusses lifetime income products which are designed to help...more

K&L Gates LLP

QPAM Exemption Amendment—Key Takeaways and Action Steps for Advisors and Other Stakeholders

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Executive Summary - Many investment advisers and other financial institutions rely on the Department of Labor’s QPAM Exemption when providing services to, and transacting with, employer-sponsored retirement plans, individual...more

Morris, Manning & Martin, LLP

Voluntary Reporting for a Mandatory Database: DOL’s New Approach for the SECURE Act 2.0 Retirement Savings Lost and Found

On April 15, the Department of Labor (“DOL”) published a Notice of Proposed Information Request (the “Notice”), outlining its plan to create the Retirement Savings Lost and Found required by SECURE Act 2.0.  Although...more

Patterson Belknap Webb & Tyler LLP

Does Your Retirement Plan Need a 'PLESA'?

Pension-Linked Emergency Savings Accounts (“PLESAs”) are a special retirement plan feature created under SECURE ACT 2.0. PLESAs were first permitted to be made available to participants as of January 1, 2024. PLESAs, which...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - Understanding Fees in Retirement Planning

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On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined by Ali Pino, a principal and retirement plan consultant with Spherient Advisors, who explains what plan fiduciaries need to understand...more

McDermott Will & Emery

IRS Says Keep Those Class Exclusions Classy Under Long-Term, Part-Time Employee Rules

McDermott Will & Emery on

In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces. Together, the...more

Eversheds Sutherland (US) LLP

Checking it twice: Benefit plan end of year actions to consider

With 2023 drawing to a close, it is a good time for employers to consider any actions needed before year-end with respect to their benefit plans. We made a list, and we encourage plan sponsors to check it twice....more

Troutman Pepper

Employee Benefits and Executive Compensation: Getting Ready for 2024 - Health and Welfare Plan Developments — Special Edition...

Troutman Pepper on

In the second episode of our three-part Employee Benefits and Executive Compensation podcast miniseries, hosts Lynne Wakefield and Lydia Parker discuss key health and welfare plan developments as we close out 2023 and head...more

Alston & Bird

Retirement Plan Amendments and 2023 Year-End Action Items

Alston & Bird on

Our Employee Benefits & Executive Compensation Group reminds plan sponsors to get ready for 2023 IRS year-end amendments and offers year-end action items....more

Alston & Bird

Do You Need to Send an Annual Notice to Plan Participants?

Alston & Bird on

If so, you may need to do so by December 1, 2023. Our Employee Benefits & Executive Compensation Group reviews the multiple year-end notices that defined contribution plans must issue to participants....more

Bradley Arant Boult Cummings LLP

SECURE 2.0: Retirement Plan Changes for 2024

The SECURE 2.0 Act of 2022 sets forth a number of changes affecting retirement plans that go into effect over several years. This article focuses on key changes for 2024 that may be implemented....more

Fenwick & West LLP

Considerations When Establishing a New 401(k) Plan or Migrating to a New 401(k) Provider

Fenwick & West LLP on

Establishing a new 401(k) plan or migrating to a new 401(k) provider is a complex process involving multiple stakeholders. Companies should expect up to four months between the commencement of the process until finalization...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - Partial Plan Terminations

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On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined by his colleague, Marc Purintun, who discusses partial plan terminations. While you may be aware that plan sponsors can terminate a plan,...more

Verrill

New Options for Retirement Plan Distributions Under SECURE 2.0

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This post summarizes the new distribution options, including penalty-free withdrawals, applicable to defined contribution plans under the SECURE 2.0 Act of 2022 (“SECURE 2.0”) and provides a timeline of their effective dates....more

Robinson Bradshaw

Fiduciary Fundamentals: The Basics

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The Employee Retirement Income Security Act of 1974 (ERISA) is a body of federal laws and regulations that govern the provision and operation of certain employer-sponsored benefit plans. While its structure and requirements...more

Faegre Drinker Biddle & Reath LLP

SECURE 2.0 Adds New Distribution Options for Defined Contribution Plans

SECURE 2.0 introduced several new distribution options and tax reporting rules for defined contribution plan sponsors. Below is an overview of the new provisions and their potential implementation dates...more

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