The Department of Labor issued Final rules for ARPs. The Department of Labor (DOL) has issued final regulations which make it easier for small businesses to provide retirement savings plans through “association retirement plans” (ARPs), by allowing small businesses to band together to offer 401(k) and other defined contribution plans to their employees. Read More
Julie Verrekia was recently featured on PICPA Podcast talking about protecting employee benefit plan information from Cybercriminals. Social Security numbers. Medical data. Financial information. The volume of personal information kept inside employee benefit plans is huge, and that is why these plans make such ripe targets for cybercriminals. Read More
In Notice 2019-26, the IRS has provided updated mortality improvement rates and static mortality tables to be used for defined benefit pension plans under § 430(h)(3)(A) of the Internal Revenue Code (Code) and section 303(h)(3)(A) of the Employee Retirement Income Security Act of 1974 (ERISA). Read More
In Notice 2019-18, Offering a Lump-Sum Payment Option to Retirees Currently Receiving Annuity Payments under a Defined Benefit Plan, the Department of the Treasury and the Internal Revenue Service (“IRS”) announced that they no longer intend to amend the required minimum distribution (RMD) regulations under Internal Revenue Code Section 401(a)(9) to address the practice of