What Plan Sponsors Need to Know About Layoffs & Partial Plan Terminations

The U.S. unemployment rate reached 14.7% in April, its highest level since the Great Depression, as companies looked to cut costs amid the coronavirus pandemic. While downsizing the workforce can help companies remain afloat, plan sponsors need to understand how these decisions could affect their retirement plans.

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Remote Working and Cybersecurity Considerations For Plan Sponsors

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COVID-19 Alert for Plan Sponsors: Deadline Extensions for 403(B) and Defined Benefit Plans

By Kim Flett and Beth Garner The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, extends several key deadlines for 403(b) and defined benefit plan sponsors.

  • 403(b) remedial amendment period extended to June 30, 2020: The law extends the initial remedial amendment period for 403(b) plans from...
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Cybersecurity Considerations for New Electronic Disclosure Rule

By Greg Garrett, Beth Lee Garner, and Mary EspinosaThe U.S. Department of Labor (DOL) announced a proposed new rule in October 2019 that would allow retirement plan sponsors to post plan disclosures online, rather than having to deliver this information via physical mail. While the DOL has emphasized that the proposed rule should result in...

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Final Regulations on Calculation of UBTI Issued

The IRS has released final regulations that present guidance on how certain organizations that provide employee benefits must calculate unrelated business taxable income (UBTI) under Code Sec. 512(a).


Organizations that are otherwise exempt from tax under Code Sec. 501(a) are subject to tax on their unrelated business taxable...

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DOL and IRS Expands Availability of Multiple Employer Plans

A multiple employer plan (MEP) allows employees of unrelated private-sector employers to participate in a single tax-qualified retirement plan sponsored by an employer group or association or a professional employer organization (PEO).[1] Generally, joining an MEP is an efficient way to reduce the cost of establishing and maintaining a...

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What Plan Sponsors Need To Know About DOL Enforcement & Red Flags

Being selected for a Department of Labor (DOL) audit is not exactly a prize most plan sponsors want or intend to win. Often, plan sponsors think service providers will take the blame when compliance issues arise. But plan sponsors are ultimately responsible for plan administration and operation. Plan sponsors that don’t realize this can suffer...

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Does Your Business Insurance Cover Failure to Pay Employee Benefit Plan Premiums?

Many employers carry general business liability insurance with fiduciary clauses to hedge against potential losses that may result from negligent acts of some sort committed by their employees. But employers may be surprised to find that the broad policy terms of their fiduciary clauses do not cover as much as they thought, especially when a...

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Tax Diversification Strategies for Retirement

Diversification is an important principle of risk management when it comes to saving for retirement. While many investors understand the benefits of spreading their risk exposure across asset classes in their portfolios, many don’t realize that diversifying their tax exposure can have benefits in terms of managing cash flow in retirement. ...
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Remittance Schedules: How To Know And Meet Your Deadlines

Part of offering a defined contribution plan, whether a 401(k) or a 403(b) plan, is making sure that the money participants contribute from their paycheck is deposited in their retirement account in a timely manner. While this might seem like a relatively minor and simple task in the scope of a plan sponsor’s fiduciary duties, the Department...
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