By Andrew Oringer, Barry Salkin, Jon Schultze and Ari Sonneberg Both supporters and opponents of the consideration of environmental, social and governance (“ESG”) goals can point to decisions by...
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Jon Schultze
Prepare for Upcoming Changes to Retirement Plans for 2025
The SECURE 2.0 Act of 2022 (the “SECURE 2.0”) made significant changes to retirement plans and how they operate. Many of the changes have already been implemented by service providers, but some...
IRS Issues Interim Guidance on Matching Contributions Made on Account of Qualified Student Loan Repayments
IRS Issues Interim Guidance on Matching Contributions Made on Account of Qualified Student Loan Repayments - Marcia Wagner, Barry Salkin and Jon Schultze, 401(k) Advisor, October 2024
IRS Provides Guidance on Application of SECURE 2.0 Act’s Coverage of Long-Term, Part-Time Employees
By Jon Schultze and Barry Salkin In Notice 2024-73, the Internal Revenue Service (“IRS”) issued guidance on the application of certain non-discrimination rules to long-term, part-time employees in...
Code Section 1042 Transaction Gone Awry
It is often the case under the Internal Revenue Code (“Code”) that adherence to procedural rules is crucial to secure tax benefits. Failure to meet these procedural conditions can result in...
IRS Issues Interim Guidance on Matching Contributions Made on Account of Qualified Student Loan Repayments
Starting in 2024, Section 110 of the SECURE 2.0 Act allows employers to make matching contributions to Section 401(k), 403(b) and governmental 457(b) plans, and SIMPLE IRAs (which have analogous but...
Developments on the ESOP Front
By Jon Schultze, Andrew Oringer and Barry Salkin Employee stock ownership plans (“ESOPs”) are retirement plans that provide employees with the opportunity to own stock of their employer. Congress...
Prepare for Upcoming Changes to Defined Contribution Plans Long-Term, Part-Time Employees
The SECURE Act of 2019 (the “2019 Act”) and the SECURE 2.0 Act of 2022 (the “2022 Act”) made many significant changes to retirement plans and how they operate. Several provisions became effective...
IRS Delays Roth Catch-up Contribution Change to Defined Contribution Plans
By John Schultze and Barry Salkin One of the changes made by the SECURE 2.0 Act requires that catch-up contributions made by employees with FICA compensation from an employer sponsoring a 401(k),...
IRS Issues Transitional Guidance for Required Minimum Distributions
By Jon Schultze and Barry Salkin In response to changes made by the SECURE 2.0 Act of 2022 (SECURE 2.0) to the required minimum distribution (“RMD”) rules of the Internal Revenue Code (the “Code”),...
IRS Issues Guidance on Nonfungible Tokens (“NFTs”) in IRAs and Tax-Qualified Individual Account Plans
By Barry Salkin and Jon Schultze Unlike ERISA, the Internal Revenue Code (“Code”) places almost no restrictions on the manner in which plan assets of individual retirement plans or tax-qualified...
IRS Issues Proposed Regulations Regarding Use of Forfeitures in Tax-Qualified Plans
By Jon Schultze and Barry Salkin Some of the IRS regulations dealing with tax-qualified plans predate ERISA and subsequent federal tax legislation, and have become outdated. However, sometimes it...
SECURE Act 2.0 Modification to Controlled Group and Affiliated Service Group Requirements
By Jon Schultze and Barry Salkin One of the less-discussed provisions of the recently enacted SECURE Act 2.0 makes two changes to the “family attribution” rules under Section 414 of the Internal...
Congress Enacts Respect for Marriage Act
By, Barry Salkin, Roberta Watson and Jon Schultze n the ordinary course, we would not be advising clients that a statute that a Supreme Court held unconstitutional nine years ago was being removed...
IRS to Permit Determination Letters in Limited Circumstances for Individually Designed Code Section 403(b) Plans
Historically, an important element of compliance for tax-qualified plans under Code Section 401(a) or 403(a) was the submission of a request for a favorable determination letter on the form of the...
IRS Issues Important Guidance with respect to Required Minimum Distribution Regulations
By Jon Schultze and Barry Salkin The SECURE Act made significant revisions to the required minimum distribution rules under Internal Revenue Code (“Code”) Section 401(a)(9) that apply to defined...
Retirement Plan Post-2021 Opportunities
By Jon Schultze Employers and plan sponsors of retirement plans need to be aware of some responsibilities and opportunities that are available as we head into 2022. Adopting a New Plan – Employers...
Year End Reminders for Retirement Plans 2021 Edition
As the end of 2021 approaches, employers and plan sponsors of retirement plans need to be aware of their year-end responsibilities and some of the issues they will need to consider going into 2022....
Misuse of Participant Confidential Data
As we explained in our recent Law Alert, the Department of Labor (“DOL”) has become highly focused on the cybersecurity practices of plan sponsors and their service providers and has begun asking...
What Mandatory Auto-Enrollment IRAs Actually Mean
What Mandatory Auto-Enrollment IRAs Actually Mean - Izzy Goldowitz, Mark Greenstein and Jon Schultze, 401(k) Specialist, October 16, 2021 (PDF)