Many plan sponsors face the issue of what to do with uncashed checks. Even if the check is sent to the correct address, the participant or former participant may not cash the check. The IRS issued a Revenue Ruling (Revenue Ruling 2019-19 – Failure to Cash a check From a Qualified Plan) which might influence […]
401k, distributions, IRS, uncashed checksThe DOL has issued FAB 2014-01 replacing previously issued guidance (FAB 2004-02) related to locating missing participants. Both the IRS and Social Security Administration have discontinued their letter forwarding service since the issuance of FAB 2004-02. Internet search technologies have improved greatly over the past few years. While this FAB is specifically for finding participants […]
DOL, ERISA, IRS, lost participants, missing participantsThe IRS has issued Notice 2014-19 and posted Answers to Frequently Asked Questions Regarding the Application of the Windsor Decision and Post-Windsor Published Guidance to Qualified Retirement Plans on its website. ErisaALERTs 2013-04 and 2013-06 discussed government guidance issued as a result of the United States v Windsor (the Supreme Court decision that holds Section 3 […]
compliance, DOMA, IRS, WindsorAs a result of the Windsor decision same gender marriages are recognized for Federal tax purposes if the couple is married in states that recognize same gender marriages regardless of where the couple may be domiciled (see ErisaALERT 2013-04). The IRS has issued Notice 2014-1 providing additional guidance relating to the impact of the Windsor […]
Cafeteria Plan, DOMA, domestic partner, FSAThe IRS issued guidance regarding tax treatment of certain employee benefits for same gender marriages, making ERISA compliance a little more complicated. HHS also issued guidance relating to Medicare and DOL issued guidance relating to FMLA as it relates to same gender marriages. The Supreme Court decision in U.S. v Windsor that holds Section 3 […]
compliance, DOL, DOMA, FMLA, HHS, IRSThe IRS issued guidance regarding lifetime income options to help participants structure their retirement plan distributions to help ensure that they don’t run out of money. The guidance includes: A revenue ruling clarifying rules for defined contribution plans that offer lifetime income options, A revenue ruling clarifying rules that apply to rollovers into defined benefit […]
2012 archive, IRS, lifetime security, longevity annuity contractNovember, 2006 IRS Issues Final Regulations on the Use of Electronic Media WHAT IS IT?: – In October 2006, the IRS issued final regulations regarding the use of electronic media for providing employee benefit notices and making employee benefit elections and consents. The final regulations reflect the applicable provisions of the Electronic Signatures in Global […]
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