Now You Can Have Your Cake and Eat It Too: New Pension Distribution Rules...
If you are one of the lucky few employees who participate in an employer’s defined benefit retirement plan, you previously had to choose between receiving your benefits in a lump sum or in annuity...
View ArticleA Time to Remember that Employer-Provider Data Breach Benefits are not Taxable
Hardly a week goes by without another announcement of a high-profile data security breach. The list of data breaches impacting high-profile employers and their employees just in 2017 is long....
View ArticleThe 162(m) Transition Rule Guidance Has Arrived
On August 21, 2018, the IRS released Notice 2018-68 providing its initial guidance on the Tax Cuts and Jobs Act (Act) transition rule for changes under 162(m). Before the Act, 162(m) limited a public...
View ArticleNew IRS Guidance Throws a Pass to Certain Universities That Pay Coaches...
In Notice 2019-09 (“Notice”), the IRS provides relief from the new excise tax to certain colleges and universities that pay their “covered employees” more than $1 million per year or pay excess...
View ArticleTo Err is Human – To Forgive is Up to the IRS in Rev Proc 2019-19
The IRS recently issued its latest version of the Employee Plans Compliance Resolution System (“EPCRS”) in Rev. Proc. 2019-19. The EPCRS is the IRS program that assists employers in correcting both...
View ArticleThe Ninth Circuit Reverses Itself and Enforces ERISA Mandatory Arbitration...
A three-judge panel of the Ninth Circuit recently decided that Charles Schwab Corp. can require a proposed class action to arbitrate its claim that Schwab breached its fiduciary duties by including...
View ArticleRetirement Plan Dreams May Go Up in Smoke for Marijuana Companies
Companies in the medical and recreational marijuana industry continue to face an uphill battle for access to financial services. Although a number of states have legalized the medicinal and/or...
View ArticleSalary Deferrals in the Time of COVID-19
As the saying goes, “drastic times call for drastic measures” and, from an economic standpoint, these are drastic times. To fight the battle to stay in business many employers are considering a wide...
View ArticleFinal DOL Rule Imposes Fiduciary Limitations on Social Investing
The DOL recently issued a final rule (“Rule”) providing guidance on the long-standing issue of whether ERISA fiduciaries are permitted to consider non-pecuniary factors while making investments (or...
View ArticleThe DOL Asks and Answers Questions About the New Welfare Plan Fee Disclosure...
In Field Assistance Bulletin 2021-03 (12/31/21) (FAB), the Department of Labor (DOL) issued guidance and temporary enforcement policy to address the new 408(b)(2) disclosure requirements that apply to...
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