As discussed in a prior blog post, the CARES Act allows defined benefit plan sponsors to delay any minimum required contribution for 2020 until January 1, 2021. However, the CARES Act did not delay the filing deadline for a plan’s Form 5500. This means that if a plan sponsor delays the contribution, as allowed by the CARES Act, to a date that falls ...
Earlier this week the IRS issued proposed regulations regarding an extension of the rollover period for certain plan loan offset amounts. The proposed rules implement portions of the Tax Cuts and Jobs Act (“TCJA”), which provides for an extended rollover period for a Qualified Plan Loan Offset (“QPLO”), which is a type of plan loan ...
Way back in December of 2019, the SECURE Act was passed into law and made significant changes to retirement benefit plans. It is easy to forget about the SECURE Act after the CARES Act and seemingly endless flow of administrative guidance that has come out since the national emergency caused by the coronavirus pandemic. But the Department of Labor ...
As discussed in a prior blog post, the Department of Health and Human Services’ Office for Civil Rights’ (“OCR’s”) issued its revised interpretation of Section 1557 of the Affordable Care Act (“ACA”). OCR’s revised interpretation eliminated “gender identity” from the list of protected classes. As At almost the same time ...
Plan administrators of qualified plans must provide participants that receive eligible rollover distributions with a written notice under Internal Revenue Code Section 402(f). In prior guidance issued in 2018, the IRS provided two safe harbor 402(f) notices that plans could use to meet the requirements of Section 402(f); one safe harbor ...
The Coronavirus Aid, Relief and Economic Security (“CARES”) Act extended the deadline for making 2019 defined benefit plan contributions to January 1, 2021. At the end of last month, the Pension Benefit Guaranty Corporation (“PBGC”) issued new FAQs to clarify when the 2019 contribution must be made in order for it to be reflected in ...