Ruel Pile Dec 31, 20201 minWhat is a Partial Plan Termination Generally, the Internal Revenue Code (Code) requires all unvested benefits to immediately vest when the (tax-qualified) plan is either...
Boutwell FayNov 19, 20201 minAmendment Deadline Alert: Defined Benefit & Money Purchase Pension PlansThe Bipartisan American Miners Act of 2019 (the “Miners Act”), enacted at the end of 2019, provides that effective for...
Boutwell FayNov 19, 20202 minTransition Relief for Certain Nonqualified Deferred Compensation Plans Expires on December 31, 2020Internal Revenue Code (“IRC”) section 162(m) imposes a $1 million deduction limitation for compensation paid to “covered employees”...
Sherrie BoutwellNov 19, 20202 minFAQ: What is Reliance?What does it mean to be able to “rely” on the pre-approved document’s IRS individual determination letter or on an opinion or advisory...
Evan Giller Oct 9, 20203 minSpecial Notice requirement Under 403(b) Volume SubmitterMany sponsors of 403(b) plans have adopted pre-approved volume submitter plan documents in the last few years. If you are a...
Milton HeberAug 19, 20203 minIRS to Increase User Fees for Certain Requests for Letter Rulings and Determination LettersThe IRS has provided advance notification in Announcement 2020-14 issued August 12, 2020 that effective January 4, 2021,user...
Kathleen BassJun 30, 20201 minWhat is “Walk-In CAP”?A submission for an Employee Plans Voluntary Closing Agreements, also known as a “Walk-In CAP” is a program offered by the IRS where...
Kathleen BassJun 19, 20202 minWhat is a John Doe SubmissionWhen filing a voluntary correction program submission (“VCP”), or for an Employee Plans Voluntary Closing Agreement (a “Walk-In...
Milton HeberMay 31, 20202 minDeadline Extensions for Retirement Plans on Account of COVID-191. What guidance has been issued granting deadline extensions for retirement plans on account of COVID-19? The Internal Revenue...
Kathleen BassApr 19, 20202 minFAQ: Reducing or Eliminating Matching Contributions Mid-year Employers wishing to reduce or eliminate a matching contribution during the middle of a plan year must be careful in assessing whether...
Boutwell FayMar 9, 20202 minFAQ: IRS Guidance Uncashed-CheckFor a variety of reasons,some participants delay, neglect, or choose not to cash distribution checks. Uncashed distribution checks...
Boutwell FayJan 15, 20201 min2020 Health and Welfare Plan Dollar LimitsThe Building Blocks of ERISA this month is the 2020 Health and Welfare Plan Annual Limits. 2020 Health and Welfare Benefit Plan Annual...
Boutwell FayDec 19, 20192 minAre you Secure in Your Knowledge About the Secure Act?The “Setting Every Community Up for Retirement Enhancement Act of 2019” or “Secure Act” has been enacted and is expected to be signed by...
Boutwell FayDec 3, 20191 min2020 Retirement Plan Dollar LimitsThe Building Blocks of ERISA this month is the 2020 Retirement Plan Annual Limits. 2020 Retirement Plan Annual Limits
Kathleen BassSep 30, 20192 minDOL Proposes New Default Electronic Disclosure Safe HarborThe Department of Labor (DOL) has issued proposed regulations providing a safe harbor under which employers would be able to ...
Kathleen BassAug 31, 20192 minWhen Must Summary Plan Descriptions and Summaries of Material Modifications Be Distributed?All employee benefit plans subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) must distribute summary...
Sherrie BoutwellAug 29, 20192 minWhat is a MEP?A MEP is a “Multiple Employer Plan,” which is an employee benefit plan that provides benefits for two or more employers that are not part...
Katrina VeldkampJun 30, 20192 minWhat is a VFCP?The Department of Labor (“DOL”) allows plan fiduciaries (including employers, plan officials, and parties in interest) to voluntarily...
Sherrie BoutwellMay 31, 20192 minWhat is a Roth IRA?¹A Roth IRA is a type of Individual Retirement Account (“IRA”) that is subject to the rules that apply to a traditional IRA, except for...
Boutwell FayApr 30, 20192 minWhat is a VCP?A VCP is a submission to the IRS through its Voluntary Correction Program offered under the Employee Plans Compliance Resolution System...