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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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Department of Labor Issues Final Electronic Disclosure Rule
On May 21, 2020, the Department of Labor (the “DOL”) announced a final rule establishing a new electronic disclosure safe harbor. The new safe harbor permits retirement plan administrators to deliver certain plan documents by one of two methods: (1) … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged DOL, electronic disclosure, internet availability, NOIA, paper notice, plan administrator, safe harbor
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IRS Issues Updated Tax Notice for Qualified Retirement Plan Distributions
The Internal Revenue Service (“IRS”) recently released guidance that contains two updated safe harbor notices that retirement plans may use to satisfy the requirements of the Internal Revenue Code (the “Code”) to provide an advance notice to a participant prior … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged 402(f), Internal Revenue Code, IRS, model notice, Notice, safe harbor
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The IRS Significantly Increased the Availability of Mid-Year Changes to Safe Harbor Plans
Mid-year changes to safe harbor 401(k) plans have long been thought to be available in only very limited circumstances. However, the IRS recently released guidance in Notice 2016-16 that significantly increases the scope of permissible mid-year changes to safe harbor … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged 401(k) plan, IRS, mid-year amendment, mid-year change, safe harbor, safe harbor 401(k) plan
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