DOL Releases Final Regulations on Default Electronic Notices and Disclosures for 401(k) Plans
On May 21, 2020, the U.S. Department of Labor (“DOL”) released Final Regulations (along with a related DOL fact sheet) permitting administrators of retirement plans […]
IRS Issues Q&As Under CARES Act on COVID-19 Related 401(k) Plan Distributions and Loans
On May 4, 2020, the Internal Revenue Service (“IRS”) issued Q&As under the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, providing guidance to 401(k) […]
DOL, IRS, EBSA Issue Guidance Further Expanding COVID-19 Relief for 401(k) Plans
On April 29, 2020, three key governmental agencies issued two separate pieces of official guidance further expanding COVID-19-related relief for 401(k) retirement plans and other […]
IRS Extends Various 401(k) Deadlines in Response to COVID-19 Crisis
On April 9, 2020, the Internal Revenue Service (“IRS”) released Notice 2020-23 which, among other things, extends a number of recent deadlines applicable to retirement […]
Congress Passes CARES Act In Response to COVID-19 Crisis, Contains 401(k) Ease-of-Access and Other Provisions
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, the third piece of recent legislation passed in response […]
401(k) Plans in the Age of COVID-19 – Hardship Withdrawals, Loans, Contributions, and Other Issues
In the midst of the global health crisis generally known as the “Coronavirus” or “COVID-19,” employers and employees alike are faced with challenges that would […]
How Will The SECURE Act Affect Me? Highlights of Some of the Top New Provisions Affecting 401(k) Plans (PART TWO)
Passed by Congress and signed into law at the midnight hour as part of the 2019 comprehensive budget appropriation package, the Setting Every Community Up […]
2020 Penalty Amounts for ERISA Health and Welfare and 401(k) Plans
To adjust for annual inflation, the Department of Labor (DOL) published the 2020 civil monetary penaltis for certain violations of health and retirement plans subject […]
How Will The SECURE Act Affect Me? Highlights of Some of the Top New Provisions Affecting 401(k) Plans (PART ONE)
Passed by Congress and signed into law at the midnight hour as part of the 2019 comprehensive budget appropriation package, the Setting Every Community Up […]