Retirement Plans

Final Rule on E-Disclosures: The DOL Provides Retirement Plans with an Additional Safe Harbor for Electronic Disclosure of Required Plan Notices Under ERISA

YATINDRA PANDYA, July 9, 2020   Background On May 27, 2020, the Department of Labor (DOL) published its final rule on electronic disclosures, creating an additional voluntary fiduciary safe harbor for electronically providing participant disclosures required under the Employee Retirement Income Security Act of 1974, as amended (ERISA). The effective date of this final rule […]

DOL Proposes to Formally Regulate ESG Investing

ROBERT R. GOWER, July 9, 2020   On June 30, 2020, the United States Department of Labor (DOL) published a Proposed Rule in the Federal Register seeking to formalize guidance concerning environmental, social, and governance (ESG) considerations in selecting investments for plans subject to the Employee Retirement Income Security Act of 1974 (ERISA). Background ESG […]

IRS Issues Coronavirus-Related FAQs for Retirement Plans and IRAs

ADRINE ADJEMIAN and ROBERT R. GOWER, June 8, 2020    On May 4, 2020, the Internal Revenue Service (IRS) issued a limited set of FAQs providing administrative guidance addressing the special “coronavirus-related distribution” (CRD) and plan loan provisions under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). As anticipated, the guidance draws […]

DOL Announces Publication of Final E-Disclosure Rule

FREEMAN L. LEVINRAD and NICHOLAS J. WHITE, May 26, 2020    On May 21, 2020, the Department of Labor (DOL) announced its final rule on electronic disclosures, which is scheduled to be published on May 27th. The final rule allows employers to deliver participant disclosures primarily electronically. The DOL anticipates this will reduce plan costs by […]

The DOL Provides Limited Relief to Retirement Plans and Their Fiduciaries in Dealing with the COVID-19 Pandemic

RON ASSADI and NICHOLAS J. WHITE, May 18, 2020    In response to the COVID-19 pandemic (the “Pandemic”), on April 28, 2020, the Employee Benefits Security Administration (EBSA) issued Disaster Relief Notice 2020-01 (the “Notice”). The Notice addresses the following issues as impacted by the Pandemic: (i) deadlines for providing participant disclosures and notices; (ii) […]

The IRS Extends Retirement Plan Payment and Filing Deadlines

CATHERINE L. REAGAN and KEVIN E. NOLT, April, 2020   (Updated May 1, 2020) In response to the coronavirus pandemic, on April 10, 2020 the Internal Revenue Service (IRS) issued Notice 2020-23, extending the deadlines for the time-sensitive actions set forth in Revenue Procedure 2018-58 to July 15, 2020.1  These extensions apply to certain retirement plan […]

Impact of the Historic Coronavirus Aid, Relief and Economic Security Act on Retirement Plans — and Action Items for Plan Sponsors

T. KATURI KAYE and BRYAN J. CARD, March, 2020    On March 27, 2020, the United Sates Congress passed the historic Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), the largest rescue bill to date, which provides economic relief to individuals, businesses, local and state governments, and health care systems financially impacted by […]

SECURE Act Makes Significant and Immediate Pension Law Changes

CRAIG P. HOFFMAN, December, 2019    The most far-reaching pension reform legislation in 13 years was passed by Congress and is expected to be signed into law by President Trump today as part of the budget bill funding the federal government for the remainder of the fiscal year. The Setting Every Community Up for Retirement […]

The Final Frontier: Adding a Retirement Tier

R. BRADFORD HUSS, CRAIG P. HOFFMAN, CATHERINE L. REAGAN, November, 2019  401(k) plans have been with us for almost 40 years. Over that time, the focus for most plans has been on helping participants accumulate savings that will be consumed in retirement. With the decline in defined benefit plans, 401(k) plans are providing a large […]

2020 Pension Plan Limitation Highlights

Shannon Oliver, November, 2019 On November 6, 2019, the Internal Revenue Service issued Notice 2019-59, containing the cost-of-living adjustments related to retirement plan limitations under the Internal Revenue Code (the “Code”). These changes will take effect on January 1, 2020. Below are some of the highlights. Limitations That Have Increased The limitation on the annual […]

DOL Proposes New E-Disclosure Regulations

CRAIG P. HOFFMAN, October, 2019    Background On October 23, 2019, the Department of Labor (DOL) published proposed regulations that provide for a new e-disclosure safe harbor for distribution of participant notices required under ERISA. This regulatory project is in response to President Trump’s Executive Order on Strengthening Retirement Security, issued in August of last […]

SECURE Retirement Legislation on Hold in the Senate

CRAIG P. HOFFMAN, August, 2019    Congress will soon be returning to Washington from its summer recess. The question for those interested in retirement policy is whether pension reform will finally move forward this year. The answer will depend on whether several key senators agree to lift the “holds” they have placed on the legislation. […]

PBGC’s Missing Participants Program for Defined Contribution Plans

BARBARA PLETCHER, July, 2019    Did you know that the Pension Benefit Guaranty Corporation (PBGC) administers a missing participants program for defined contribution plans? We ask because PBGC has indicated, informally, that few defined contribution plans have taken advantage of this program. Missing Participants Program In the benefits community, it is well known that PBGC […]

Limited Expansion of the Determination Letter Program – Is Your Plan Eligible for Review?

ADRINE ADJEMIAN, July, 2019    On May 1, 2019, the Internal Revenue Service (IRS) issued good news in the form of Revenue Procedure 2019-20, which announced a limited expansion of the determination letter program for individually designed hybrid and merged plans. The IRS will begin accepting determination letter applications for these plans effective September 1, […]

401(k) Student Loan Matching Programs — Private Letter Ruling 2018-33012

CRAIG P. HOFFMAN, June, 2019    Much has been written about the impact student loan debt is having on the American economy. According to the Wall Street Journal, student loan debt is currently in excess of $1.5 trillion, the average debt is $34,000 per person, two million loans have defaulted over the last six years […]

Page 1 of 4 1 2 3 4