Regulatory Updates
Periodic updates communicating important regulatory developments to plan sponsors, including those provided by ERISA and other governing bodies.
The DOL Approves New Electronic Disclosure
On May 20, 2020, the U.S. Department of Labor (DOL) and the Employee Benefits Security Administration (EBSA) published their much-anticipated final rule to expand the ability of private sector employers to communicate mandated retirement plan disclosures and other information online or by email. Current electronic delivery rules While required retirement plan notices can always be […]
Read MoreExtended 2020 Deadlines for Plan Sponsors
The IRS has issued additional guidance expanding the time-sensitive plan actions that can be delayed. The following deadlines are among those that have been extended to July 15, 2020 for plan sponsors of defined contribution plans, for which deadlines fall on or after April 1, 2020 and before July 15, 2020: Distributions of 402(g) excess […]
Read MoreSecuring Additional Value for Every Retirement Saver (SAVERS) Act
The Securing Additional Value for Every Retirement Saver (SAVERS) Act, has been introduced in the House of Representatives to assist Americans whose retirement savings have been adversely affected by the coronavirus. The bill would temporarily increase retirement plan limits, raising the maximum annual addition defined contribution limits (415) and employee deferral limits (402(g)) to 300% […]
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