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.
IRS Updates 401(k) Model Rollover Notice
On August 6, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-62 which updates the information that must be provided to participants in retirement plans (including 401(k) plans) when they become eligible for a distribution (this is often referred to
DOL Keeps Its “Social Distance” from 401(k) Plan Investments in Environmental, Social and Governance Funds
On June 30, 2020, the U. S. Department of Labor (“DOL”) published a proposed rule (see also related Notice of Proposed Rulemaking) that would throw cold water on the idea of “social investing” in retirement plans, including 401(k) plans. In
DOL Proposes Revised Prohibited Transaction Exemption
On June 29, 2020, the U. S. Department of Labor (“DOL”) issued a proposed prohibited transaction exemption (“PTE”) - along with a related fact sheet - that would permit “investment advice fiduciaries” to receive compensation in exchange for providing investment
Temporary Suspension of 401(k) Plan Safe Harbor Contributions Due to COVID-19
On June 29, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-52 that generally permits employers who sponsor safe harbor 401(k) plans to temporarily reduce or suspend certain contributions made during the COVID-19 crisis. As a bonus, the Notice also