DOL Approves Private Equity in TDFs
The Department of Labor has given the green light to private equity investments in professionally handled funds within 401(k)s. In a detailed Information Letter, the head of Division of Fiduciary Interpretations at the Employee Benefit…
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IRS Signs Off on Temporary Remote Signature Relief
The Internal Revenue Service has offered brief administrative relief to assist specific retirement beneficiaries or plan participants eager to make participant elections by permitting flexibility for remote signatures. Published on June 3, Notice 2020-42 gives…
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Senate Passes Paycheck Protection Program Legislation
The United States Senate just approved the House version of the Paycheck Protection Program (PPP) legislation this Wednesday, augmenting the time given for small businesses and other PPP loan recipients to utilize funds and still…
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Novel In-Service Distributions from 457(b) Plans
A common query concerning in-service distributions from retirement plans is: Can a governmental 457(b) plan allow participants to obtain plan withdrawals while they are still working? Per a recent law change, governmental 457(b) plans now…
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Fiduciary Liability Claims and “Silent Cyber” Coverage
A vital concern sweeping businesses across the country is a term called “silent cyber”, or the coverage for cyber devastation under traditional property and casualty insurance policies, in contrast to purpose-built cyber insurance policies. A…
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3 Things You Need to Know About E-Delivery
With the devastating pandemic currently transpiring, it’s understandable if you have not kept up with the Labor Department’s final say on default electronic disclosure. Launched on May 21st, this rule includes new modifications in response…
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IRS Issues Additional COVID-19 Relief
On May 28, the IRS issued Notice 2020-35, offering more administrative relief on deadlines applicable to employee benefits, employment taxes and exempt establishments impacted by COVID-19. Per Code Section 7508A, the Internal Revenue Service is…
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House Signs Off on Paycheck Protection Fix Offering More Flexibility
The House of Representatives just approved a stand-alone rule that aims to alleviate snags small business leaders face under the Paycheck Protection Program (PPP). Launched by Representatives Chip Roy (R-TX) and Dean Phillips (D-MN), the…
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Detrimental Assumptions Plan Sponsors Make
When it comes to managing an employee benefit plan, even if a plan sponsor commits a very small plan violation, such an incident can result in hefty ERISA penalties. Even failing to file Form 5500…
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