Joel N. Mackler

Apr 5, 2023 | lexology.com | Mary C. Niehaus |Joel N. Mackler

On February 27, 2023, the U.S. Internal Revenue Service (IRS) issued proposed rules (the Proposed Rule) for how and when to use forfeitures in qualified retirement plans. This is welcome news for plan administrators, as previously the IRS offered little formal or consistent guidance on this topic. The Proposed Rule provides guidance on how both defined benefit plans and defined contribution plans should treat forfeitures.

Mar 29, 2023 | lexology.com | Melissa K. McGrory |Mary C. Niehaus |Joel N. Mackler

President Biden has announced that both the COVID-19 Public Health Emergency and the related National Emergency, ongoing since March 2020, will end on May 11, 2023. Pursuant to these emergency declarations, many federal agencies (including the Internal Revenue Service, the Department of Labor, and the Department of Health and Human Services) had previously provided for benefit coverage mandates and suspended benefit plan deadlines.

Feb 13, 2023 | lexology.com | Beth J. Dickstein |Mary C. Niehaus |Joel N. Mackler

Part of our ongoing series providing a more in-depth analysis of certain employee benefit provisions of SECURE Act 2.0As noted in our client alert dated December 27, 2022, the U.S. SECURE Act 2.0 makes significant changes for correcting certain tax-qualified plan defects. The purpose of this alert is to do a deeper dive regarding the following changes that are effective immediately:(1) Plan fiduciaries are no longer required to seek recovery of overpayments in certain circumstances.