Certain qualified retirement plan errors are now easier to fix under the new expanded IRS self-correction procedures. On April 19, 2019, the IRS released the revised Employee Plans Compliance Resolution System (“EPCRS”) under...
Read MoreMany 401(k) plans allow participants to borrow amounts from their vested 401(k) plan accounts and repay such amounts, typically through payroll deductions, back to their own accounts. Plan loans must comply with IRS rules which...
Read MoreEmployers often want to provide extra benefits or security to key employees amidst the uncertainty caused by a change of control. These arrangements are often referred to as golden parachute payments because they help key...
Read MoreBy: Roberta Granadier On April 7, 2017, the IRS issued a memorandum relating to cash balance retirement plans. A cash balance plan is a defined benefit pension plan which looks like a defined contribution plan...
Read MoreBy: Roberta Granadier A taxpayer who makes a Section 83(b) election to accelerate the income taxation date of certain transferred property is no longer required to file a copy of the Section 83(b) election with his or her...
Read MoreBy Roberta Granadier Even though penalties for failure to comply with ACA coverage requirements have been in force since January 1, 2014, there is still a good deal of confusion surrounding the requirement that all individuals...
Read MoreBy Roberta Granadier Even though penalties for failure to comply with ACA coverage requirements have been in force since January 1, 2014 for employers with 100 or more full-time equivalent employees and January 1, 2015 for...
Read MoreBy RobertaGranadier Many employers used to offer cash payments to employees who declined coverage under their group health plans. Cash opt-out payments were popular because employers saved money on health plan premiums or claims...
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