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Participation of Long-Term, Part-Time Employees in 401(k) Plans

USA - November 8 2021 One of the goals of the Setting Every Community Up for Retirement Enhancement Act (the “SECURE Act”), which was passed in late 2019, was to increase…

R. Sterling Perkinson

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