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About this Blog
Welcome to the Snell & Wilmer Benefits Blog. We will be posting about current employee benefits and executive compensation topics and issues. We invite you to contact the authors with your thoughts or questions.Blog Contributors
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A Running Start: IRS Pilots New Pre-Examination Program
The Employee Plans Office of the Internal Revenue Service (the “IRS”) announced a new pre-examination program for retirement plans to begin as of June 2022. The pilot program is designed to reduce the amount of time and resources the IRS … Continue reading
Posted in audit, Employee Benefits, Qualified Retirement Plans
| Tagged audit, closing letter, EPCRS, IRS, IRS letter, new program, pilot program, pre-examination, qualified plan, retirement plans
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IRS Issues Final Regulations for Hardship Distributions
We previously reported on the Bipartisan Budget Act (the “Budget Act”) hardship distribution rule changes for qualified retirement plans. On September 23, 2019, the IRS issued final regulations implementing certain statutory changes to the hardship distributions rules, including those required … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged amendment, bba, Bipartisan Budget Act, distributions, hardship, natural disasters, qualified plan, withdrawals
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Retirement Plan Dreams May Go Up in Smoke for Marijuana Companies
Companies in the medical and recreational marijuana industry continue to face an uphill battle for access to financial services. Although a number of states have legalized the medicinal and/or recreational use of marijuana, marijuana remains classified as a Schedule I … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged 401(k), controlled substances act, financial services, IRS, marijuana, money laundering, qualified plan, regulation, weed
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Review of Qualified Plan Compensation Definition May be Needed Due To Tax Reform
Tax reform made few changes that directly impact qualified retirement plans; however, it made some changes that may indirectly impact qualified retirement plans. We previously blogged on the indirect changes that tax reform had on hardship distributions. Tax reform also … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged compensation, definition, fringe benefits, moving expenses, qualified plan, tax reform
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Making a List, Checking it Twice
It’s that time of year when boys and girls start making their lists for the holidays, but we in the employee benefits world make a very different kind of list. In the rapidly changing world of employee benefits and executive … Continue reading
Posted in Employee Benefits, Executive Compensation, Health & Welfare Plans, Health Care Reform, Qualified Retirement Plans
| Tagged Checklist, employee benefits, end of the year, end-year, Executive Compensation, health and welfare, qualified plan, to do list
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