Retirement Plans Blog

The IRS recently issued new guidance for voluntary correction of retirement plan qualification errors in Revenue Procedure 2021-30 (Rev. Proc).  The IRS has given practitioners more options for self-correction, including extension of the time for ...
[Read more] about Retirement Plans – IRS Gives New Options for Voluntary Correction But Also Takes Away

Quick! Raise your hand if you remember the SECURE Act (Setting Every Community Up for Retirement Enhancement Act of 2019). It was signed into law on December 20, 2019 (for those keeping score, it passed the House with a vote of ...
[Read more] about Have You Been Keeping Up with Benefits Law Changes?

Are you considering laying off employees? Does your company contribute to a multi-employer pension fund (e.g. a union pension fund)?  If so, you need to know about the partial withdrawal liability rules.  You may already know that ...
[Read more] about Partial Withdrawal Liability – Keep Making Pension Contributions, Get Hit with a Bill Anyway

Last December before panic set in, Congress passed the SECURE Act.  Beginning in 2021, banks, insurance companies, and other financial institutions may begin offering Pooled Employer Plans (PEPs). A PEP is a 401(k) or profit-sharing plan ...
[Read more] about Pooled Employer Plans – Coming Soon

Retirement plan providers are rolling out expanded retirement plan distribution and loan options rapidly. Employers and recordkeepers are wrestling with whether notice to participants is required and, if not, what notice should be given. Employers ...
[Read more] about CARES Act Best Practices: Balancing Participants’ Financial Needs With Concern For Long-Term Retirement Savings