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Showing 28 posts in Employee Benefits.

Request Annual Estimate of Multiemployer Pension Plan Withdrawal Liability

An employer which participates in an underfunded multiemployer pension plan should request an estimate of withdrawal liability on an annual basis so it is aware of the amount of any potential withdrawal liability. Read More ›

The SECURE Act – Federal Retirement Enhancement Act May Soon Require Complete Restructuring of Inherited IRA Planning

On May 23, 2019, the U.S. House of Representatives passed the “Setting Every Community Up for Retirement Enhancement Act of 2019,” known as the SECURE Act, with a vote of 417 to 3. Read More ›

IRS Opens Determination Letter Program for Cash Balance Plans, Pension Equity Plans, and Certain Merged Plans

In 2017, the IRS eliminated the ability of sponsors of individually-designed qualified retirement plans to apply for favorable determination letters other than when a plan is first adopted or is terminated.     Read More ›

Special Timing Rule

Special timing tax rule

Are You Withholding Too Much on Nonqualified Deferred Compensation?

If you have a nonqualified deferred compensation plan for select employees, you are probably aware that benefit payments under a properly structured plan are generally not taxable for income tax purposes until the payments are received by the employee. Read More ›

The IRS Backtracks (Again!) on Retiree Lump-Sum Windows

The IRS Backtracks (Again!) on Retiree Lump-Sum Windows

On March 7, 2019, the IRS issued Notice 2019-18, which walked back its prohibition on offering retirees receiving annuity payments a time-limited opportunity to receive their remaining benefit value in one lump-sum payment (a “retiree lump-sum window”). Read More ›

COBRA Noncompliance can be Costly

COBRA Noncompliance can be Costly

Now is a good time for employers to take a look at their COBRA procedures or check with their COBRA vendors about documentation processes given a recent case out of the Southern District of Ohio. Read More ›

IRS Issues Updated Eligible Rollover Distribution Notices - Plans Should Begin Using Immediately

IRS Issues Updated Eligible Rollover Distribution Notices - Plans Should Begin Using ImmediatelyMost retirement plans (including profit sharing, 401(k), and 403(b) plans) are required to provide participants with an explanation of the rules for making an eligible rollover distribution and the tax rules for distributions that are not rolled over. Generally, this rollover notice is part of the participant’s distribution election packet. Read More ›

Changes in Hardship Withdrawal Rules for 401(k) and 403(b) Plans – What Plan Sponsors Need to Know

Changes in Hardship Withdrawal Rules for 401(k) and 403(b) Plans – What Plan Sponsors Need to KnowEmployers who sponsor a 401(k) plan or a 403(b) plan that offers hardship withdrawals have some decisions to make. Read More ›

SURPRISE! You may be liable for union pension plan withdrawal liability

SURPRISE! You may be liable for union pension plan withdrawal liability

When a participating employer stops contributing to, or no longer has an obligation under a collective bargaining agreement (CBA) to contribute to, an underfunded multiemployer (union) pension plan, the employer may be liable for “withdrawal liability” even though it always paid its required annual contributions to the pension plan. Read More ›

Employer Health Plan Litigation over Residential Treatment and Wilderness Therapy

Employer Health Plan Litigation over Residential Treatment and Wilderness Therapy

If you keep tabs on employer group health plan litigation, you have perhaps noticed a substantial increase in lawsuits over plans denying coverage for various types of out-of-network residential treatment and "wilderness therapy" benefits during the last 18 months. Read More ›

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Attorney Spotlight

Scott W. Dolson is a member of FBT, providing corporate, tax and M&A services to LLCs, corporations and partnerships. This includes tax planning for the formation of closely held businesses, LLCs and FLPs and the structuring of syndicated private offerings.

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