Understanding Employee Benefits and key developments in the employee benefits field and items of interest to our clients. MORE

The Department of Labor’s Veterans Employment and Training Services (“VETS”) issued a new fact sheet (“Fact Sheet”) to help employers better manage their pension obligations under the Uniform Services Employment and Reemployment Rights Act (“USERRA”). USERRA creates certain rights and protections for uniformed service members. For example, under USERRA, service members who were reemployed after

The IRS has issued guidance (Rev. Proc. 2019-20) expanding the determination letter program for certain individually designed plans.  The IRS had previously announced in 2017 that the determination letter program for individually designed plans would be limited to initial plan qualification and qualification on plan termination.  Since that time, the IRS received many

On August 31, 2018, President Trump signed an executive order outlining the administration’s priorities for American retirement plans. Emphasizing that as many as 34 percent of workers do not have access to a workplace retirement plan, the order outlines the administration’s plan for increasing workplace retirement plan availability.

The first section of the order outlines

On April 23, 2018, the DOL released Field Assistance Bulletin (FAB) 2018-01 relating to (1) plan investment in “economically targeted investments (“ETIs”), (2) the exercise of shareholder rights and (3) investment policy statements. We will address the first of these topics in today’s post. Generally, ETIs are investments that promote certain environmental, social and governance

The IRS announced on April 5th that the agency is seeking input on whether (and how) the individually designed retirement plan determination letter program should be expanded for the 2019 calendar year. Notice 2018-24 requests stakeholder comment regarding additional situations in which sponsors of individually designed plans should have access to favorable determination letter

As mentioned in our recent blog, the date for complying with the new disability claims procedures (April 2, 2018) is rapidly approaching.  In addition to making sure disability plans comply with the new rules, employers should also be reviewing other ERISA plans, such as qualified retirement plans and nonqualified deferred compensation plans to determine

29 C.F.R. §2560.503-1

The DOL’s revised ERISA disability claims procedures regulations will be taking effect early next month, and plan sponsors should take a hard look at plan processes over the next few weeks to ensure compliance. The new requirements apply to disability benefit claims filed after April 1, 2018, after a 90-day delay postponed

On November 27, 2017, the Social Security Administration (SSA) announced that it is adjusting the maximum earnings subject to the Social Security tax for 2018 to $128,400.  As we have previously posted, the SSA had announced that it would increase the maximum earnings to $128,700.  The SSA made the adjustment after receiving a large