Page 11 - Correction Program News Today

The Internal Revenue Service’s Employee Plans function is pilot-testing a new pre-examination retirement plan compliance program starting this month as a way to shorten the length of time needed for exams.

As employers using a pre-approved plan document are aware, a plan restatement must be adopted by the end of the two-year window following the 6-year remedial amendment period cycle.

As employers using a pre-approved plan document are aware, a plan restatement must be adopted by the end of the two-year window following the 6-year remedial amendment period cycle....

/PRNewswire/ -- Two ERISA experts from Wolters Kluwer Legal & Regulatory U.S. will lead sessions on retirement planning at this years NIPA Annual Forum & Expo...

David M. Pixley employee benefits and ERISA litigation Lawyer Cleveland at Jackson Lewis focuses on litigation o benefit claims, fiduciary obligations, employee benefit plan compliance, ERISA, tInternal Revenue Code, ACA, HIPAA COBRA

Todd A. Solomon is a pension plan, profit sharing plan, 401(k) plan, employee stock ownership plan, 403(b) plans and nonqualified deferred compensation lawyer at McDermott Will

David M. Pixley employee benefits and ERISA litigation Lawyer Cleveland at Jackson Lewis focuses on litigation o benefit claims, fiduciary obligations, employee benefit plan compliance, ERISA, tInternal Revenue Code, ACA, HIPAA COBRA

As the sponsor of a 401k plan, you have a fiduciary responsibility to timely deposit participant contributions in your plan’s trust or custodial account. Failing to do so is a fiduciary violation, and constitutes a prohibited transaction that subjects you to an excise tax.

Failing to issue required minimum distributions can be costly, so sponsors must follow exact steps from the IRS and DOL to locate missing participants.

In last month’s 401(k) Compliance Check, we discussed the importance of ensuring your 401(k) plan’s designated decision-makers are actually authorized to make plan decisions. In this...