What 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...
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Nov 19, 20202 min read
FAQ: 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...
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Nov 19, 20201 min read
Amendment Deadline Alert: Defined Benefit & Money Purchase Pension Plans
The Bipartisan American Miners Act of 2019 (the “Miners Act”), enacted at the end of 2019, provides that effective for...
33 views
Nov 19, 20202 min read
Transition Relief for Certain Nonqualified Deferred Compensation Plans Expires on December 31, 2020
Internal Revenue Code (“IRC”) section 162(m) imposes a $1 million deduction limitation for compensation paid to “covered employees”...
35 views
Oct 9, 20203 min read
Special Notice requirement Under 403(b) Volume Submitter
Many sponsors of 403(b) plans have adopted pre-approved volume submitter plan documents in the last few years. If you are a...
139 views
Aug 19, 20203 min read
IRS to Increase User Fees for Certain Requests for Letter Rulings and Determination Letters
The IRS has provided advance notification in Announcement 2020-14 issued August 12, 2020 that effective January 4, 2021,user...
62 views
Jun 30, 20201 min read
What 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...
27 views
Jun 19, 20202 min read
What is a John Doe Submission
When filing a voluntary correction program submission (“VCP”), or for an Employee Plans Voluntary Closing Agreement (a “Walk-In...
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May 31, 20202 min read
Deadline Extensions for Retirement Plans on Account of COVID-19
1. What guidance has been issued granting deadline extensions for retirement plans on account of COVID-19? The Internal Revenue...
62 views
Apr 19, 20202 min read
FAQ: 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...
1,072 views
Mar 9, 20202 min read
FAQ: IRS Guidance Uncashed-Check
For a variety of reasons,some participants delay, neglect, or choose not to cash distribution checks. Uncashed distribution checks...
84 views
Jan 15, 20201 min read
2020 Health and Welfare Plan Dollar Limits
The Building Blocks of ERISA this month is the 2020 Health and Welfare Plan Annual Limits. 2020 Health and Welfare Benefit Plan Annual...
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Dec 19, 20192 min read
Are 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...
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Dec 3, 20191 min read
2020 Retirement Plan Dollar Limits
The Building Blocks of ERISA this month is the 2020 Retirement Plan Annual Limits. 2020 Retirement Plan Annual Limits
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Sep 30, 20192 min read
DOL Proposes New Default Electronic Disclosure Safe Harbor
The Department of Labor (DOL) has issued proposed regulations providing a safe harbor under which employers would be able to ...
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Aug 31, 20192 min read
When 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...
1,656 views
Aug 29, 20192 min read
What 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...
528 views
Jun 30, 20192 min read
What is a VFCP?
The Department of Labor (“DOL”) allows plan fiduciaries (including employers, plan officials, and parties in interest) to voluntarily...
249 views
May 31, 20192 min read
What is a Roth IRA?¹
A Roth IRA is a type of Individual Retirement Account (“IRA”) that is subject to the rules that apply to a traditional IRA, except for...
57 views
Apr 30, 20192 min read
What is a "Claim for Benefits" Under ERISA?
What is a “Claim for Benefits” Under ERISA? (Retirement Plans¹) ERISA has strict requirements for responding to and processing ...
670 views
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