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Article

Stinson LLP | USA | 8 Feb 2010

Labor department approves new safe harbor for depositing employee contributions

Under current labor regulations last amended in 1996, sponsors of qualified retirement and health and welfare plans are required to transfer employee contributions withheld from wages as soon as those amounts can be reasonably segregated from the employer’s general assets, but not later than the 15th business day of the month following the end of the month in which the amounts would otherwise have been paid in cash.

Article

Eversheds Sutherland (US) LLP | USA | 14 Jan 2010

DOL finalizes safe harbor for timely remittance of participant contributions to small plans

Effective January 14, 2010, the U.S. Department of Labor (DOL) finalized an ERISA regulation establishing an optional safe harbor period during which participant contributions can be remitted, without becoming “plan assets” in the interim, to employee benefit plans with fewer than 100 participants.

Article

Drinker Biddle & Reath LLP | USA | 5 Mar 2008

Are participant contributions remitted quickly enough?

Participant contributions to certain ERISA plans must be deposited with the plan on the earliest date on which they can reasonably be segregated from the employer’s general assets.

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