Following our September 18 article, “Retirement Plan and Leave Donation Programs During States of Emergencies,” the Internal Revenue Service (IRS) and Congress acted to provide additional relief and assistance opportunities to those affected by Hurricanes Harvey, Irma, and Maria. In an effort to increase donations to assist those in need, the IRS issued guidance to allow employers to set up programs that enable employees to elect to have unused leave converted to cash ... Keep Reading »

Employers can offer retirement plans and leave donation programs with features that allow access to retirement funds or paid time off to employees in need. These features can be added using standard plan operational procedures. While we can be grateful when the IRS offers “relief” from certain requirements under certain circumstances, plan sponsors must realize that, while this relief permits employers to roll out features more quickly, it may come with a potential cost ... Keep Reading »

This blog post targets employers who sponsor retirement or welfare plans and are concerned about their responsibility to stay informed and track the status of the Department of Labor’s “Fiduciary Rule.” This issue is more subjective than those about which I normally write, but with so many regulatory obligations, I hope you agree that it is worthwhile to decide what to prioritize. Before going further, I warn any financial advisors seeking additional insights into the ... Keep Reading »