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Posted by Jordan Schreier | Sep 28, 2020 | IRS, Tax, Taxation
The Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”) established a new in-service distribution known as a qualified birth or adoption distribution (“QBOAD”). Generally, a QBOAD is any distribution...
Read MorePosted by Jordan Schreier | Mar 30, 2020 | COVID-19, Employee Benefits, Jordan Schreier
The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act became law on March 27, 2020. The Act includes important provisions that impact employer sponsored benefit plans. Consistent with its name, the Act provides...
Read MorePosted by Jordan Schreier | Dec 16, 2019 | Affordable Care Act, Tax, Tax Cuts and Jobs Act, Taxation
As it has done in past years, the IRS has extended the Affordable Care Act (“ACA”) deadline for health plan sponsors to furnish individuals IRS Forms 1095-B and 1095-C by 30 days (IRS Notice 2019-63). Under the extension, the...
Read MorePosted by Jordan Schreier | Mar 25, 2019 | 401K, IRS, Jordan Schreier, Tax, Taxation
I have recently had two separate employers tell me that they wanted to stop making safe harbor matching contributions to participants in their 401(k) retirement plans in the middle of a plan year. The employers had very...
Read MorePosted by Jordan Schreier | Dec 24, 2018 | Uncategorized
On Friday, December 14, 2018, a federal district court in Texas invalidated the entire Affordable Care Act (“ACA”). The decision in the case, Texas v. United States, was issued on the day before the end of the 2019 open...
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