Employee Benefit News

The long-delayed final rules governing fiduciary conflicts of interests were set to take effect on April 10, 2017. Following a presidential executive memorandum to review the regulations, the Department of Labor (DOL) has proposed delaying the applicability date for the new regulations by sixty days. We wrote about this far-reaching regulation when the rules were […]

Many employers provide income for employees who suffer a disability that render them unable to work for some period of time. The evaluation and processing of disability claims must comply with new regulations issued by the Department of Labor. To read more, see the article “New Disability Claims Procedures for ERISA Plans.” For questions or […]

Earlier this year, the IRS issued proposed regulations to allow plans to use forfeited balances to fund fully vested sources of contributions. These rule changes, if finalized, will provide employers increased flexibility to use forfeited balances to offset required safe harbor and corrective contributions to 401(k) plans. The rules prior to these proposed changes restricted […]

The plan document sets out eligibility provisions for the various types of contributions allowed by the plan. An employee will qualify for the plan, work for a period of time, then retire or terminate employment with a subsequent distribution of benefits. But how does the plan deal with individuals who return to employment? The answer […]

A new era has finally arrived for 403(b) documents with the announcement of the adoption period for pre-approved plan documents. The IRS has issued Revenue Procedure 2017-18, which sets March 31, 2020 as the date by which plan sponsors must restate their plans to a pre-approved document. After the first regulations in forty-three years were […]