May 6, 2021

401(K): IRS Releases Updated Operational Compliance List, Includes Secure Act Changes

On April 27, 2021, the IRS posted on its website its most recent updated operational compliance list for qualified retirement plans, including 401(k) plans. The purpose of the IRS operational compliance list is to help plans operate in compliance with legal qualification requirements by identifying changes in those requirements that are effective during a calendar… Continue Reading

April 22, 2021

401(k): CAA Expanded Loan and Withdrawal Provisions Differ from CARES Act

Earlier this year, in response to the passage of the Consolidated Appropriations Act of 2021 (“CAA”) on December 27, 2020, we provided information relative to provisions within the Act that impacted 401(k) plans. This article is intended to clarify the differences between that legislation and similar provisions included in the earlier CARES Act (see below)…. Continue Reading

March 22, 2021

DOL’s Non-Enforcement Policy for 401(k) ESG Investments

On March 10, 2021, the U.S. Department of Labor (“DOL”) announced in an official statement that it will not enforce its recently issued regulations on the investment of 401(k) plan investments based on nonpecuniary factors, such as “environmental, social and governance” (“ESG”) factors. The announcement represents an unusual, though not totally unexpected, change of course… Continue Reading

March 5, 2021

2020 Taxes: Did You Take a Coronavirus-Related Distribution from your 401(k)?

IMPORTANT! If you received a “coronavirus-related distribution” from your 401(k) plan during 2020, don’t forget to report this on your 2020 Federal income tax return! Even though these distributions are exempt from the ten percent early withdrawal penalty, they are still taxable as regular income – although the tax generally may be spread out over… Continue Reading

February 4, 2021

401(k) Plans: They’re Back! Required Minimum Distributions Resume for 2021

The Coronavirus Aid, Relief, and Economic Security Act of 2020 (“CARES Act”) contained a number of provisions directly relating to 401(k) retirement plans. (See our article entitled “Congress Passes CARES Act in Response to COVID-19 Crisis, Contains 401(k) Ease-of-Access and Other Provisions” for details.) Among the many 401(k) provisions was a temporary suspension of required… Continue Reading

Blog Home
Browse by Category 401(k)Health & Welfare