Labor Days
Employer Survival Kit: Coronavirus Edition
With the arrival of 2019 novel coronavirus ("COVID-19") to the United States, employers should begin thinking about strategies to mitigate business interruptions, ensure employee safety, and avoid unnecessary…
SECURE Act Considerations for Retirement Plan Sponsors
On December 20, 2019, Congress enacted the SECURE Act as part of the Further Consolidated Appropriations Act of 2020 (together, the “Act”). The Act includes both required and discretionary changes for…
Summary of State Mandated ACA Reporting
Several jurisdictions have recently adopted laws requiring individuals to purchase health coverage or pay a state tax penalty. Employers employing residents in a covered jurisdiction now need to facilitate compliance…
Remedial Amendment Period for 403(b) Plans ending on March 31, 2020
March 31, 2020 is the deadline for retroactively correcting most 403(b) plan document defects that occurred on or after January 1, 2010. These defects can be corrected by amending an individually-designed 403(b) plan…
IRS Issues Final Hardship Distribution Rules
The Internal Revenue Service has recently issued final regulations easing requirements for hardship distributions from 401(k) and 403(b) plans. The final regulations reflect a number of statutory changes, including…