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DOL Clarifies Timing of Lifetime Income Disclosures in Benefit Statements

USA - July 29 2021 Last year the Department of Labor (DOL) issued an interim final rule regarding the SECURE Act’s lifetime income disclosures, which require benefit…

R. Sterling Perkinson.

Action Steps for Employers that Received Exempt W-4s in 2020

USA - February 23 2021 Employees falling on hard times during the 2020 pandemic may in some instances have sought to increase their net take home pay by filing a revised…

Jeffrey S. Reed.

December 18, 2020 File “1099-NECs” Time to Report Nonemployee Compensation

USA - December 18 2020 Starting in 2020, companies that pay at least $600 for services performed by someone who is not their employee are required to use the new Form…

Jennifer Stobie Schumacher.

DOL Issues Guidance for Including Lifetime Income Disclosures in Defined Contribution Benefit Plan Statements

USA - September 15 2020 As required by the SECURE Act of 2019, the U.S. Department of Labor (DOL) published an interim final rule requiring plan administrators of individual…

R. Sterling Perkinson.

IRS Releases Detailed Guidance on CARES Withdrawal and Loan Relief

USA - July 1 2020 On June 19, 2020, the Internal Revenue Service (“IRS”) released guidance (Notice 2020-50) clarifying many aspects of the retirement plan withdrawal…

Peter Daines, R. Sterling Perkinson.