"The IRS determination letter program (Form 5300) is a cornerstone of the favorable tax treatment for individually designed qualified plans.... The program has undergone changes over the years, but it remains an invaluable benefit to plan sponsors that offer custom-designed tax-favored plans."  MORE >>

"This White Paper highlights some of the principal annual or quarterly reporting requirements for employee stock plans that multinational companies most commonly encounter when offering these programs to their employees in selected jurisdictions worldwide. A chart summarizing these items [is included]."  MORE >>

"[A] competent authority arrangement (CAA) between the US and Malta.... [states] that it is the understanding of both countries' tax authorities that a fund, scheme or arrangement is not operated principally to provide pension or retirement benefits, and thus not a pension fund for treaty purposes, if it allows participants to contribute property other than cash, or does not limit contributions by reference to income earned from employment and self-employment activities."  MORE >>

"The subpoena is part of an investigation into the service provider after it allegedly processed unauthorized distributions as a result of cybersecurity breaches relating to its ERISA plan clients. Moreover, it is alleged that the service provider, Alight Solutions, did not immediately report the cyber breaches and the related unauthorized distributions to its clients after Alight discovered the breaches and instead waited months to notify the affect plans." [Walsh v. Alight Solutions, LLC, No. 20-2138 (N.D. Ill. Oct. 28, 2021)]  MORE >>

"For the first time, the most common default deferral rate is now 6% of pay (32.9%) rather than the 3% of pay that has been the norm since 2006 (29% of plans)."  MORE >>

"[1] The Supreme Court could limit 401(k) and 403(b) fee litigation.... [2] More about surprise billing and health care ... [3] Amendments and more amendments to pension plans.... [4] New legislation.... [5] Changes to Trump administration investment guidance.... [6] Clarification of arbitration rules? ... [7] Cryptocurrency as a plan investment.... [8] Cybersecurity will continue to take center stage."  MORE >>

"John Mark Vine of Washington, DC, passed away on Wednesday, December 1, 2021.... He came to Washington to clerk for Judge Arnold Raum on the U.S. Tax Court and spent the remainder of his legal career at Covington & Burling, where he was instrumental in shaping important aspects of [ERISA] following its passage in 1974.... In addition to his groundbreaking work in the areas of employee benefits and executive compensation, John was a model and teacher for generations of younger lawyers."  MORE >>