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224 Matching News Items

1.  Trucker Huss Benefits Report, May 2015 (PDF)
Trucker Huss Link to more items from this source
May 17, 2015
Articles include: [1] DOL proposed fiduciary rule: a significant second take; [2] Plan sponsors gear up for required ACA reporting of coverage; and [3] New final ACA rules regarding limited wraparound coverage as an excepted benefit.
2.  Trucker Huss Benefits Report for December 2012 (PDF)
Trucker Huss Link to more items from this source
Dec. 23, 2012
Articles in this issue: Health Care Reform and Wellness Programs: Protecting Participants and Giving Employers More Flexibility; HHS Issues Additional Transitional Reinsurance Fee Guidance; and IRS 2012 Cumulative List.
3.  Benefits Quiz from the April 2008 Trucker Huss Benefits Report (PDF)
Trucker Huss Link to more items from this source
May 7, 2008
Pages 1-2 of 10 pages. Excerpt: The ... questions are designed to refresh, and to fine tune, your benefits expertise. Some of the answers (which are found on page 8 of this Newsletter) may surprise you.
4.  J&J Lawsuit Could Signal a New Area of ERISA Class Action Litigation Against Health Plan Fiduciaries
Trucker Huss Link to more items from this source
Mar. 21, 2024
"Lewandowski reinforces how important it is for health plan fiduciaries to pay close attention to their plans' costs and fees ... Retirement plan 'excessive fee' litigation has ... reshaped the entire retirement industry -- from the pricing of investments to compensation paid to service providers to insurance and legal costs. If Lewandowski gains any traction and paves a new path of ERISA fiduciary litigation, we could see the same seismic disruption in the health plan industry." [Lewandowski v. Johnson & Johnson, No. 23-0671 (D.N.J. complaint filed Feb. 5, 2024)]
5.  Notice 2024-02 Provides Guidance on Distributions to the Terminally Ill
Trucker Huss Link to more items from this source
Mar. 5, 2024
"To be eligible for a Terminally Ill Distribution, an individual must be certified by a physician as having an illness or physical condition that can reasonably be expected to result in death in 84 months or less after the date of certification.... [T]he Terminally Ill Distribution provision of the Act is an exception to the 10 percent additional tax, not the distribution restriction requirements of 401(k) or 403(b) plans. For such a plan to allow Terminally Ill Distributions, it must first permit in-service distributions or hardship distributions."
6.  IRS Provides Guidance on Self-Correcting Auto-Enrollment and Auto-Escalation Failures
Trucker Huss Link to more items from this source
Feb. 20, 2024
"[Notice 2024-02] generally provides that to self-correct under the Act, employers would follow the rules under the expired safe harbor of EPCRS. However, [the Notice] provides guidance on: [1] the effective date of the Act's safe harbor correction; [2] how to self-correct for failures relating to terminated employees; and [3] when corrective matching contributions must be made."
7.  IRS Notice Clarifies New Plan Automatic Enrollment Requirement
Trucker Huss Link to more items from this source
Feb. 12, 2024
"[SECURE 2.0 requires] that any 401(k) plan or 403(b) plan established on or after December 31, 2024, must provide automatic enrollment.... [Notice 2024-02] discusses when a Plan is established in order to be a Grandfathered Plan. It also discusses how the new requirements affect mergers and acquisitions, multiple employer Plans, spun off Plans and the new deferral only Plans created by the Act.... [It] is the adoption date and not the effective date that governs."
8.  IRS Provides Guidance on Roth Matching or Nonelective Contributions
Trucker Huss Link to more items from this source
Jan. 30, 2024
"The Employer Roth Contribution will be includible in income of the employee in the year in which it is allocated to the employee's account.... [Notice 2024-02] provides any designated Employer Roth Contributions are generally not considered wages subject to income tax, FICA or FUTA withholding ... Therefore, affected employees will likely have to voluntarily adjust withholding or pay estimated tax payments[.]"
9.  IRS Extends Deadline for SECURE 2.0 Amendments and Provides Other Guidance
Trucker Huss Link to more items from this source
Jan. 23, 2024
"One of the most significant provisions in [Notice 2024-02] is an extension of the deadline for plan sponsors to adopt amendments required under SECURE 2.0.... The Notice also clarifies the Act's provision allowing employers to provide de minimis financial incentives to employees to encourage participation in a 401(k) or 403(b) plan."
10.  Self-Correction of Plan Failures Made Easier — at Least for Now
Trucker Huss Link to more items from this source
Dec. 19, 2023
"Plan sponsors must ensure they have practices and procedures in place reasonably designed to facilitate compliance with the qualified plan rules. Failure to do so will prevent the plan from being eligible for SCP.... [P]lan sponsors who take advantage of the expansion of self-correction should be careful to properly document the dates when defects were discovered, all corrective actions taken, and when they occurred."
11.  A Closer Look at Arbitration Provisions in ERISA Breach of Fiduciary Duty Claims
Trucker Huss Link to more items from this source
Dec. 19, 2023
"While every circuit court to consider the issue ... has recognized that claims under ERISA are generally arbitrable, there is a split ... on whether plan-wide claims for breach of fiduciary duty under ERISA Section 502(a)(2) can be forced into arbitration. ... Plans and plan sponsors deciding whether to include an arbitration provision in their plans should weigh the possible pros and cons carefully."
12.  Investment Advice Fiduciary Rule, Round Three
Trucker Huss Link to more items from this source
Nov. 30, 2023
"The Proposed Rule is narrower than the 2016 Fiduciary Rule in that it applies only to paid recommendations made in three specified contexts, does not include any new contract or warranty requirement, and focuses on the retiree's reasonable expectation of a relationship of trust and confidence.... [It] also aims to better capture investment advice relationships not covered by the aging 1975 regulation[.]"
13.  Considerations for Design and Operation of Deferred Compensation Plans for Executives of Tax Exempt Organizations, Part 2 (PDF)
Trucker Huss Link to more items from this source
Oct. 17, 2023
"[This] article will discuss in more detail ineligible 457(f) Plans that don't meet the requirements to be a 457(b) Plan, and how Internal Revenue Code sections 4958 and 4960 excise taxes apply to EO deferred compensation plans."
14.  Long-Term Part-Time Workers: More Questions Than Answers for Defined Contribution Plans
Trucker Huss Link to more items from this source
Sept. 28, 2023
"[It] is important to keep in mind that SECURE 1.0's three-year rule applies to plan years beginning in 2024, while SECURE 2.0's two-year rule applies to plan years beginning in 2025. Therefore, plan sponsors should start the hours tracking process sooner rather than later to ensure accurate counts and timely employee access to plan participation."
15.  Designing and Operating Deferred Compensation Plans for Executives of Tax Exempt Organizations, Part 1
Trucker Huss Link to more items from this source
Sept. 28, 2023
"[T]his article will discuss many of the requirements for eligible 457(b) plans sponsored by tax exempt organizations and how they differ from 457(b) plans sponsored by state or local governmental entities. It will also discuss areas where mistakes can easily be made.... It will also discuss the application of the excess benefit transaction rules and Code section 4960 excise tax to deferred compensation."
16.  SECURE 2.0: IRS Issues New Guidance on RMDs
Trucker Huss Link to more items from this source
Sept. 24, 2023
"[Notice 2023-54] provides ... [1] Relief for the change in the required beginning date (RBD) for RMDs under SECURE 2.0; [2] Guidance for certain RMDs for 2023; and [3] Extension of the applicability date of the final RMD regulations."
17.  Ten Common Mistakes in 457 Plans of Tax Exempt Organizations, Part 2
Trucker Huss Link to more items from this source
Sept. 5, 2023
"[6] Failing to amend plans.... [7] Income taxation of 457(f) plans.... [8] FICA taxation of 457 plans.... [9] Code Section 409A.... [10] Excise tax on compensation above $1,000,000." [Also see Part 1]
18.  Common Mistakes In 457 Plans of Tax Exempt Organizations, Part 1
Trucker Huss Link to more items from this source
Aug. 14, 2023
"[1] Confusion with state & local government plans.... [2] Confusion between 457(b) and 457(f) plans.... [3] Top hat requirement.... [4] Monthly elective deferral rule.... [5] Contributing too much to 457(b) plan." [Also see Part 2]
19.  Ninth Circuit Decision Could Open the Door to New Attacks on Retirement Plan Fiduciaries: What Fiduciaries Need to Know
Trucker Huss Link to more items from this source
Aug. 11, 2023
"The Ninth Circuit found that the district court should not have granted summary judgment in AT&T's favor because there were triable issues of fact as to whether the arrangements with and compensation to Fidelity were 'reasonable,' and therefore exempt from ERISA's prohibited transaction provisions pursuant to ERISA Section 408(b)(2).... [T]he Ninth Circuit read the prohibited transaction rules and regulations more literally -- finding that AT&T had engaged in a prohibited transaction by simply amending the contract with Fidelity to incorporate the services of Brokeragelink and Financial Engines." [Bugielski v. AT&T Servs., Inc., No. 21-56196 (9th Cir. Aug. 4, 2023)]
20.  IRS Issues Interim Guidance on Eligible Inadvertent Failures But Questions Remain
Trucker Huss Link to more items from this source
July 5, 2023
"While [Notice 2023-43] has provided some initial guidance, much more is needed.... [G]uidance on the parameters of the necessary practices and procedures that must be in place to even qualify the failure as an eligible inadvertent failure is critical. Additionally, the coordination between the existing Self Correction Program under EPCRS (SCP) and the self-correction of eligible inadvertent failures need[s] to be explained."
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