IRS Updates VCP Electronic Submission Procedures, Revises Form
On June 28, 2019, the IRS issued its June Employee Plans News, in which the agency announced comparatively minor changes to the submission procedures applicable […]
DOL Finalizes Regulations Expanding Access to MEPS By Small Employer Groups
On July 29, 2019, the U.S. Department of Labor (“DOL”) issued final regulations intended to expand access to retirement savings plans (including 401(k) plans) for […]
House Passes the SECURE Act Which Moves to Senate, Would Affect 401(k) Plans in Big Ways
On Thursday, May 23, 2019, the U.S. House of Representatives passed, by a huge 417 to 3 margin, the Setting Every Community Up for Retirement […]
IRS Revises EPCRS Guidance, Expands Corrections Available Under Self-Correction Program
On April 19, 2019, the Internal Revenue Service (“IRS”) issued Revenue Procedure (“Rev. Proc.”) 2019-19 –the most recent comprehensive official guidance to the IRS’s Employee […]
DOL Proposed Regulations on Overtime Exemption Could Increase 401(k) Plan Contributions
On March 22, 2019, the U.S. Department of Labor (“DOL”) issued proposed regulations that, if adopted in proposed form, would substantially increase compensation thresholds used to […]
Fidelity Sued Over “Secret Payments” in New Class Action
In a class-action lawsuit suit filed on February 21, 2019, in the U.S. District of Massachusetts, participants in a T-Mobile USA 401(k) plan sued the […]
Updated Penalty Amounts for ERISA 401(K) and Welfare Plans
On January 23, 2019, the DOL published annual adjustments to the civil monetary penalties for certain ERISA violations applicable to 401(k) plans. Legislation enacted in […]
Fiduciaries Beware! Two Recent Cases Expose Potential Grounds for ERISA Liability
The path of an ERISA fiduciary has long been fraught with uncertainty and paved with obstacles, including the seeming potential for liability for nearly every […]
Prepare to Electronically File your VCP Submissions
Just in time for the holidays, the IRS put a little something in the stockings for retirement plan administrators and benefits professionals. In October 2018, […]