Plan administrators of qualified plans, 403(b) plans, and governmental 457(b) plans are required under Internal Revenue Code (IRC) §402(f) to provide a written explanation regarding eligible rollover distributions (sometimes called a “special tax notice”) to participants 30-180 days before making an eligible rollover distribution.  The IRS issued Notice 2026-13 on January 15, 2026 to update the information required to be in the special tax notice for recent law changes, inclu

On Sunday, February 8, 2026, over 100 million people watched the Super Bowl—and many may have been introduced to Trump Accounts (“Accounts”) for the first time. A 30-second commercial stated, “this year every American child gets an investment account” with millions of dollars being pre-funded. The promise of giving kids “free money” surely piqued the interest of children and parents alike. Employers, however, are not all rushing to incorporate Accounts into the suite of benef

Buried in the new federal law governing Pharmacy Benefit Managers, (which is generally effective beginning in 2028) is a broad expansion of the group of “covered service providers” who are required to provide written fee disclosures to health plan fiduciaries and a mandate that health plan fiduciaries collect such disclosures.  Although the effective date of the new provision is not clear, it could be effective as early as the date the new law went into effect— February 3, 20

Join Sherrie Boutwell and Evan Giller of Boutwell Fay, LLP as they discuss "How to Fix Your Retirement Plan When Something Breaks” at the 2026 NBOA Annual Meeting & Business Solutions Showcase in Orlando, FL. Where: 2026 NBOA Annual Meeting & Business Solutions Showcase. When: March 3rd, 2:30-4 PM EST. Topics: IRS & DOL correction programs to fix retirement plan errors. What can be corrected without involving any agencies? Tips and practical techniques from experienced inside

On December 23, 2025, four class action lawsuits were filed in the Northern District of Illinois and the Southern District of New York.  These suits allege employers who sponsored voluntary employee benefits plans, and their insurance brokers, violated the Employee Retirement Income Security Act of 1974 (“ERISA”).  This article explores the allegations in these complaints and offers suggestions as to what employers can do to avoid—or at least be best positioned to defend—simi

We are pleased to share that Evan Giller of Boutwell Fay, LLP, will be on the Practitioner's Panel at the 2026 TE/GE Joint Council Meeting in Washington, DC. The panel will discuss current, practical issues and suggested solutions to inform EBSA and provide feedback on February 26, from 9:50-10:50 am EST. Event Dates: February 25-27 Location: 975 F Street, NW Washington, DC 20004 & Virtual Option 2026 TE/GE Joint Council Meeting information & registration:

Some GLP-1s, like Ozempic, are injectable drugs approved by the U.S. Food and Drug Administration (“FDA”) to help adults with type 2 diabetes manage blood sugar levels. The FDA has approved other GLP-1s for weight management, with Wegovy becoming the first FDA approved daily pill in December 2025. As the popularity and accessibility of GLP-1s for weight loss has grown dramatically over recent years, employers continue to grapple with questions related to their cost and covera

Tobacco cessation program litigation is a hot topic with more than a dozen cases currently pending in federal courts.  To date, the total settlements reached in tobacco program cessation cases exceed $10 million. As this area of law continues to develop and avoid costly litigation, it’s worth reviewing your plan’s surcharges related to tobacco use and its related tobacco cessation programs.Sherrie Boutwell and Allison Martinez’s article, Does Your Wellness Program Need a Toba

The U.S. Department of Labor announced important updates to its Delinquent Filer Voluntary Compliance (DFVCP) Program, which for the first time now offers relief to Form M-1 filers such as Multiple Employer Welfare Arrangements (MEWAs”)

IRS fees have increased in 2026, for VCP and Determination Letters. Be prepared!

Join Sherrie Boutwell online for an analysis of the impact of Zavislak v. Netflix Inc on ERISA reporting and other requirements. Hosted by BARBRI.

Plan sponsors of most types of retirement plans must amend their plan documents by the end of 2026.

We are pleased to welcome Jeffrey Penn as the newest attorney to join Boutwell Fay LLP!

The holiday season is here! Please notice our office hours have changed to celebrate the holidays!

On September 9, 2025, the DOL issued Advisory Opinion 2025-03A which concluded that the bonus program in which the former employees participated was not a pension plan designed to provide retirement income (as contemplated by ERISA Section 3(2)(A)) but instead a “bonus program” under 29 C.F.R. § 25120.3-2(c) and, consequently, that the programs were also not required to satisfy ERISA’s reporting, claims, vesting timing and funding provisions. 

We are continuing our holiday tradition with all new recipes in our 2025 cookbook! This year we focused on the ever-popular cookie, the most portable and tasty holiday treat!