Blog
The information and content contained in this blog are for general informational purposes only, and does not, and is not intended to, constitute legal advice. As always, for specific questions concerning your health or 401(k) plans, please consult your own ERISA attorney or professional advisor.
Time Is Running Out for Expanded 401(k) Loans Under CARES Act
URGENT! The expanded 401(k) plan loan provisions included in the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act are quickly coming to an end! The last day to take advantage of the increased 401(k) loan limits is Tuesday, September 22,
Employer Shared Responsibility Updates From the IRS
The IRS updated two Q&As on its Employer Shared Responsibility Provisions web page. One of the Q&As updates penalties for 2021 and the second confirms the previously announced affordability percentage for 2021 (see our July 23rd blog). Q&A 55 updates
Proposed Regulations on Rollover of 401(k) Qualified Plan Loan Offsets
On August 17, 2020, the Internal Revenue Service (“IRS”) issued proposed regulations addressing rollovers of qualified retirement plan (particularly 401(k) plan) loan offset amounts. The proposed regulations reflect changes to the previous rules regarding rollovers of plan loan offsets made
Reminder! COVID-19’s Altered Benefit Plan Deadlines
The FFCRA and CARES Act legislation extended certain guidelines applicable to plan administration actions (e.g., claims and appeals deadlines). What does this mean for employers? Plans covered by ERISA or the IRS Code must alter administrative management of plans to