Topic
401(k)
519 published works
Benefits Law Update
Correcting 401(k) Plan Excess Elective Deferrals
With the April 15 deadline for distributing excess elective deferrals fast approaching, this post summarizes the rules for correcting excess elective deferrals made to a 401(k) plan. In brief, excess…
Compliance Building
Compliance for 401k and a Recent Supreme Court Case
I assume some compliance officers often get involved in their firm’s retirement plans. If so, you may want to take a look at a decision last week by the US…
Roberts Disability Law Blog
First Circuit Finds Union Dispute with Employer Over 401(k) Plan Matching to Be Arbitrable Under CBA
In Johnson Controls Security Solutions, LLC v. International Brotherhood of Electrical Workers, Local 103, No. 21-1460, _F.4th_, 2022 WL 262963 (1st Cir. Jan. 28, 2022), the First Circuit reversed the…
Compensation & Benefits Blog
District Court Declines to Dismiss 401(k) Fee Litigation Case in First Decision Post-Hughes
By Kyle Hansen, Tulio Chirinos
In the first decision since the Supreme Court’s ruling in Hughes v. Northwestern Univ., No. 19-1401, 595 U.S. ___ (U.S. Jan. 24, 2022) (discussed further here), a Georgia federal district…
The Retirement Plan Blog
July 31, 2022 Restatement Deadline for 401(k) Plans Approaches: Carpe Diem
By Jerry Kalish
I never thought my high school Latin could come in handy, let alone in our ERISA world. Heck, there wasn't even ERISA back then. But here goes. The July 31,…
Carmody @ Work
Important New Requirements for 401k Plans—Is Your Plan Compliant?
By Mark Williams, Timothy S. Klimpl
In 2022, sponsors and administrators of 401(k) plans should be aware of a newly effective lifetime income disclosure statement, as well as written plan amendments that must be adopted by…
Carmody @ Work
Increase in Plan Limits for 2022
By Mark Williams, Timothy S. Klimpl
The IRS, in Notice 2021-61 has announced increased 401(k) plan limits for 2022. Here is what you need to know: 401(k) Deferral Limit is increased to $20,500 from $19,500. Note…
The CPA Desk
How Participating in Your Employer’s 401(k) Plan Works
Employers offer a 401(k) plan for many reasons, including attracting and retaining talent. These plans help an employee accumulate a retirement nest egg on a tax-advantaged basis. If you’re thinking…
The Benefit of Benefits
Mandated Retirement Plans And Mega IRA Restrictions Among Retirement Proposals Falling Victim To Compromises in Budget Bill
By Scott E. Galbreath, J.D., LL.M (Tax)
The provision mandating that employers not otherwise offering a retirement plan to employees must offer an elective deferral only 401(k) plan or payroll deduction IRA for employees to save for…
Hall Benefits Law Blog
IRS Issues Summary Regarding Hardship Distributions From 401(K) Plans
By Anne Hall
The IRS uses “Issue Snapshots” to analyze tax issues and provide links to additional resources such as Tax Code sections and regulations, revenue rulings, and IRS webpages. The IRS does…