Newsletter Articles

IRS Issues Additional Pandemic Relief

On June 29, 2020, the IRS issued Notice 2020-52 in response to the COVID-19 pandemic providing welcome relief to plan sponsors who are considering suspending safe harbor contributions and also to those who may already have regardless of whether the employer is...

Upcoming Compliance Deadlines for Calendar-Year Plans

15th September 2020Required contribution to Money Purchase Pension and Target Benefit Pension.Contribution deadline for deducting 2019 employer contributions for those sponsors who filed a taxextension for Partnership or S-Corporation returns for the March 15, 2020...

Electronic Delivery Could Save Billions

Summer 2020 – Benefit Insights Newsletter On May 21, 2020, the U.S. Department of Labor and the Employee Benefits Security Administration (EBSA) announced the publication of a final rule that will allow employers to communicate the required retirement plan disclosures...

Ask the Experts

Question: When is my 2019 employer contribution due to be funded to our plan? Answer: For deduction purposes, the general deadline for all employer contributions for a plan year is the tax return deadline for the company including extensions. For most entity types,...

Upcoming Compliance Deadlines for Calendar-Year Plans

The CARES Act gives the DOL the authority to delay deadlines due to public health emergencies. The dates below are in effect as of the date of this publication. April 20201stRequired Minimum Distributions – Regulations require that a participant must receive a...

Understanding the CARES Act

On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a massive relief bill for those suffering as a result of the Coronavirus pandemic, was signed into law. Besides the generalized financial relief afforded to individuals, as...

Upcoming Compliance Deadlines

February 202028thForm 1099-R – The Form 1099-R is due for any distributions that occurred during the 2019 calendar year. Note: Participant Loans that are in default may be considered “deemed” distributions and are reportable on Form 1099-R.March 202015thADP/ACP...

How the SECURE Act is Changing Retirement

On December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law. The SECURE Act represents some of the most significant changes to retirement plan law since the passage of the Pension Protection Act of 2006, over...

The Final Rule on Hardship Distributions

On Sept. 23rd, the IRS published a final rule that relaxes several existing restrictions on participant hardship distributions from defined contribution plans. Some of these changes are mandatory, requiring employers to make the changes by Jan. 1st, 2020, while others...

Upcoming Compliance Deadlines for Calendar-Year Plans (12/31)

2019 Newsletter December 20191stParticipant Notices – Annual notices due for Safe Harbor elections, Qualified Default Contributions (QDIA), and Automatic Contribution Arrangements (EACA or QACA).31stParticipant Notices – Annual notices due for ERISA 404(c) and Fee...