Under a SECURE 2.0 Act of 2022 (“SECURE 2.0”) provision that has garnered a lot of attention, matching contributions can be made with respect to a qualified student loan payment (“QSLP”) in a 401(k) plan, 403(b) plan, SIMPLE IRA plan, or governmental 457(b) plan. A QSLP is a payment made by a participant, his or her […]

As background, IRS Form 5330 (Return of Excise Taxes Related to Employee Benefit Plans) must be filed, and a related excise tax paid with the filing, for various retirement plan compliance issues. By far the  most common issue for 401(k) plans in this regard is the late remittance of participants’ contributions and loan repayments to […]

Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. A sample of recent cases is provided below.  The most common type of ERISA case for approximately the past 18 years involves retirement plan participants’ allegations that plan fiduciaries caused participants to pay excessive recordkeeping and investment fees […]

On Thursday, August 29, I will present at a seminar hosted by HUB International. The seminar will include several speakers, including a senior Department of Labor investigator. My presentation will focus on IRS and Department of Labor guidance issued this year, as well as the current state of ERISA litigation, regarding retirement plans. The seminar […]

On June 20, the IRS published Notice 2024-55 (the “Notice”). The Notice explains SECURE 2.0 provisions regarding emergency personal expense distributions and domestic abuse victim distributions. If applicable requirements are satisfied, as explained in the Notice, the 10 percent penalty tax under section 72(t) of the Internal Revenue Code (the “Code”) does not apply to […]

Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. A sample of recent cases is provided below.  The most common type of ERISA case for approximately the past 18 years involves retirement plan participants’ allegations that plan fiduciaries caused participants to pay excessive recordkeeping and investment fees […]

We have the rare situation where neither the Internal Revenue Service nor the Department of Labor issued any retirement plan guidance since the last edition of The Speed Reader was published. Thus, this month’s edition focuses solely on recent ERISA litigation.    The most common type of ERISA case for approximately the past 18 years […]

On May 2, the IRS published a Fact Sheet providing guidance on Form W-2 and 1099-R reporting, in light of certain SECURE 2.0 provisions. The Fact Sheet addresses provisions in that law which are permitted but not required in retirement plans. Per this IRS guidance, the SECURE 2.0 provisions potentially affecting Forms W-2 are as […]

Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. A sample of recent cases is provided below.  The most common type of ERISA case for approximately the past 18 years involves retirement plan participants’ allegations that plan fiduciaries caused participants to pay excessive recordkeeping and investment fees […]

Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. A sample of recent cases is provided below.  The most common type of ERISA case for approximately the past 18 years involves retirement plan participants’ allegations that plan fiduciaries caused participants to pay excessive recordkeeping and investment fees […]