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Employee Benefits Developments - January 2021 | Hodgson Russ LLP

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The Employee Benefits Practice is pleased to present the Employee Benefits Developments Newsletter for the month of January 2021.

U.S. Department of Labor Issues Final Prohibited Transaction Exemption Regarding Compensation for Fiduciary Investment Advisers of Retirement Plans and IRAs
Consolidated Appropriations Act, 2021 (CAA): Retirement Plan Relief
DOL Issues Proxy Voting Regulations for Plan Fiduciaries
Retirement Plan Elections/Consents: IRS Extends Temporary Relief From the Physical Presence Requirement for Participant Elections/Consents Witnessed by a Notary Public or Plan Representative
Court Dismisses COBRA Lawsuit

U.S. Department of Labor Issues Final Prohibited Transaction Exemption Regarding Compensation for Fiduciary Investment Advisers of Retirement Plans and IRAs ....

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What Is the SECURE Act?

What Is the SECURE Act?
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The Setting Every Community Up for Retirement Enhancement (SECURE) Act was passed in December 2019 and became a law as of Jan. 1, 2020. The legislation created changes for long-term retirement savings and has financial impacts for Americans at every age.
What Is the SECURE Act?
The SECURE Act changed a variety of retirement account rules, including who is eligible to contribute to retirement accounts and when withdrawals are required. The new legislation also adds a new exception to the early withdrawal penalty. ....

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Consolidated Appropriations Act, 2021 (CAA): Retirement Plan Relief | Hodgson Russ LLP

On December 27, 2020, the President signed the Consolidated Appropriations Act of 2021 ("CAA") that included a number of COVID-related relief provisions for employee benefit plans. ....

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Breaking Down The SECURE Act on Its One Year Anniversary

The much-ballyhooed SECURE act has been in effect for one year; what does that actually mean?
Matt Munn | Feb 02, 2021
The Setting Every Community Up for Retirement Enhancement (SECURE Act), was officially enacted on January 1, 2020 and is generally considered the largest retirement reform to impact the economy since the Pension Protection Act of 2006. The bill itself is the product of a bipartisan effort to make retirement savings more accessible for less-advantaged people.
Considering the significance of the Act, there are a wide array of tax provisions that may impact you and your business. The Act had two main initiatives. The first was aimed at businesses/employers to entice companies to start new retirement plans or make updates to existing plans in order to attract more participation from employees. The second initiative was focused on individuals. The Act modifies some rules surrounding retirement to simplify how distributions are made and provides opport ....

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7 Tax Benefits of Owning a Home: A Complete Guide for Filing This Year

7 Tax Benefits of Owning a Home: A Complete Guide for Filing This Year
7 Tax Benefits of Owning a Home: A Complete Guide for Filing This Year
What are the tax benefits of owning a home? Look no further than this complete guide of all the 2020 tax breaks homeowners should be aware of.
Margaret Heidenry, provided by
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What are the tax benefits of owning a home? Plenty of homeowners are asking themselves this right around now as they prepare to file their taxes.
You may recall the Tax Cuts and Jobs Act the most substantial overhaul to the U.S. tax code in more than 30 years went into effect on Jan. 1, 2018. The result was likely a big change to your taxes, especially the tax perks of homeownership. ....

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