CRAIG P. HOFFMAN Reproduced from the NIPA (National Institute of Pension Administrators) publication Strictly Business for TPA Business Owners The Department of Labor’s recent regulation regarding association retirement plans could significantly affect retirement plan policy for many years to come. However, the most recent guidance plan filed by the Department of Labor (Department or DOL) […]

On May 15, 2014, the Internal Revenue Service (“IRS”) issued Notice 2014-37, providing guidance concerning mid-year amendments to safe-harbor 401(k) and safe-harbor 401(m) plans reflecting the U.S. Supreme Court’s decision in United States v. Windsor, which invalidated Section 3 of the Defense of Marriage Act (“DOMA”). Notice 2014-37 follows the April release of Notice 2014-19, […]

The Internal Revenue Service (the “IRS”) has provided relief to late annual report filers through Notice 2014-35, which allows the Form 8955-SSA, Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits, to be filed late without late filing penalties. Prior to the 2009 plan year, the information reported on Form 8955-SSA was filed with […]

On Friday, April 4, 2014, the Internal Revenue Service (“IRS”) issued Notice 2014-19 (the “Notice”) and a set of six frequently asked questions (“FAQs”), providing guidance on when qualified retirement plans must start recognizing same-sex spouses for federal tax purposes following the June 26, 2013 United States Supreme Court decision in U.S. v. Windsor and […]

For San Francisco Bay Area employers, there’s a new sheriff in town: The Bay Area Air Quality Management District. Its new regulations require Bay Area employers to offer qualifying commuter benefits to employees, as well as register which benefits will be offered, by September 30, 2014. As much of our attention centers on the January […]

The United States Supreme Court has issued its decision in United States v. Quality Stores, Inc., 12-1408, 2014 WL 1168968 (U.S. March 25, 2014), reversing the decision of the United States Court of Appeals for the Sixth Circuit. The Sixth Circuit had held that certain severance payments made to employees who were involuntarily terminated were […]

In September, the Internal Revenue Service (“IRS”) and U.S. Department of Treasury issued Notice 2013-61, which provides special streamlined administrative procedures that employers may use to claim a refund or credit for the overpayment of income and employment taxes on account of same-sex spousal benefits for 2013 and prior calendar years open under the statute […]

Recent publications and public forums sponsored by the Internal Revenue Service (“IRS”) indicate that the agency has initiated an outreach campaign emphasizing plan sponsors’ internal controls in the administration of tax-qualified retirement plans. In the November 14, 2012 issue of the Employee Plans News (“Newsletter”), Monika Templeman, Director of EP Examinations stated as follows: “When […]

Background On June 26, 2013, the Supreme Court of the United States ruled, in United States v. Windsor, that Section 3 of the Defense of Marriage Act, which defines the term “marriage” as “a legal union between one man and one woman as husband and wife,” is unconstitutional. The ruling applies to all federal tax […]

The IRS announced in Revenue Ruling 2013-17 that same-sex couples who are legally married in any state or other jurisdiction that recognizes same-sex marriages (including the District of Columbia, a U.S. territory or a foreign country) will be treated as married for all federal tax purposes, even if the couple lives in a jurisdiction that […]

On September 7, 2012, a unanimous panel of the U.S. Court of Appeals for the Sixth Circuit held in United States v. Quality Stores, Inc., 110 AFTR 2d ¶2012-5253 (CA6 9/7/12) that payments which were made pursuant to two separate employer severance plans, to employees upon their involuntary termination of employment because the employer was […]

This article is an update for our readers on recent court decisions regarding the Defense of Marriage Act (“DOMA” or the “Act”). The constitutionality of Section 3 of DOMA has come under serious fire in recent months. Numerous federal courts have declared Section 3 of the Act unconstitutional, citing issues with both equal protection and […]

At a recent meeting of the American Bar Association (“ABA”), a committee (“Committee”) sponsored by the ABA’s Tax Section proposed several changes to the Internal Revenue Code (“Code”). These changes are designed to simplify administration of tax-qualified retirement plans and IRAs and to curb perceived abuses associated with these retirement vehicles. The Committee anticipates that […]

On September 6, 2011, Governor Jerry Brown signed legislation that will prevent the State of California from entering into contracts of $100,000 or more with businesses that do not provide equal benefits to same-sex spouses of their employees. Referred to as the Equal Benefits bill, Senate Bill 117 (“SB 117”) is effective immediately and will […]