IRS Extends the Period to Provide Initial QSEHRA Notice

Notice 2017-20 extends the period for providing the initial notice to employees eligible for the qualified small employer health reimbursement arrangement (QSEHRA). Document Excerpt In order to provide eligible employers additional time to furnish the initial required written notice to eligible employees following the issuance of such guidance, an eligible employer that provides a QSEHRA […]

Guidance on Substantiation of Safe Harbor Hardship Withdrawals

The IRS has issued a Memorandum to its EP examinations division on the substantiation of 401(k) safe harbor hardship withdrawals. Document Excerpt This memorandum sets forth substantiation guidelines for EP Examinations employees examining whether a section 401(k) plan hardship distribution is “deemed to be on account of an immediate and heavy financial need” under safe-harbor […]

Court Allows C Corp. DISC Payments to Roth IRA

The 6th Circuit overturned the decision of the Tax Court and allowed an arrangement that resulted in payments of millions of dollars to a Roth IRA though, as the court acknowledged, such arrangement effectively allowed for payments in excess of IRA contribution limits. Document Excerpt As it turns out, the Commissioner does not have such […]

DOL Files Notice to Delay Fiduciary Rule

In response to the President’s Executive Order, the DOL has filed a notice with OMB to delay the applicability date of the conflict of interest regulations. Document Excerpt Link https://www.reginfo.gov/public/do/eoDetails?rrid=127213

Resolutions of Disapproval of State Based Private Plans

A Resolution of Disapproval has been introduced in Congress regarding the regulations and Interpretive Bulletin allowing states to adopt and maintain private sector retirement plans. Document Excerpt Rep. Tim Walberg (R-MI), chairman of the Subcommittee on Health, Employment, Labor, and Pensions, and Rep. Francis Rooney (R-FL) have introduced two resolutions of disapproval (H. J. Res […]

Texas Court Upholds Fiduciary Rule

A federal district court in Texas denies the plaintiffs’ motion for summary judgment and grants the DOL’s motion. Document Excerpt Before the Court are the parties’ Cross-Motions for Summary Judgment (ECF Nos. 48, 51, 54, 67). On November 17, 2016, the Court held oral argument on the Motions. For the reasons stated below, Plaintiffs’ Motions […]

Covered Compensation Tables for the 2017 Plan Year

Rev. Rul. 2017-05 sets forth Covered Compensation tables for the 2017 plan year. Document Excerpt This revenue ruling provides tables of covered compensation under § 401(l)(5)(E) of the Internal Revenue Code and the Income Tax Regulations thereunder, for the 2017 plan year. Link https://www.irs.gov/pub/irs-drop/rr-17-05.pdf

DOL Statement Following Executive Order

The DOL issued a statement that it would review its legal options to delay the applicability date of the regulations in order to comply with the White House’s Order. Document Excerpt Link https://www.dol.gov/newsroom/releases/opa/opa20170203

Executive Order on Fiduciary Rule

The Executive Order requires the DOL to review the fiduciary rule and possibly rescind. Document Excerpt If you make an affirmative determination as to any of the considerations identified in subsection (a) or if you conclude for any other reason after appropriate review that the Fiduciary Duty Rule is inconsistent with the priority identified earlier […]

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