Benefits Notes
AUGUST 29, 2023
Act of 2022 (“SECURE 2.0”) required that effective as of January 1, 2024 , participants in 401(k) plans, 403(b) plans, or governmental 457(b) plans, who were age 50 or older and whose Social Security wages for the previous year exceed $145,000 (indexed), only be permitted to make catch-up contributions under such plans on a Roth (after-tax) basis.
McDermott Will & Emery Employee Benefits
OCTOBER 12, 2022
On September 26, 2022, the Internal Revenue Service (IRS) extended the amendment deadline for non-governmental qualified retirement plans, plans covered under Section 403(b) of the Internal Revenue Code (Code) and individual retirement accounts (IRAs).
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McDermott Will & Emery Employee Benefits
APRIL 6, 2022
The increased penalties generally apply to reporting and disclosure failures if the penalty is assessed after January 15, 2022, and if the violation occurred after […]. The post Inflation and ERISA Penalties: Hand in Hand for 2022 appeared first on EMPLOYEE BENEFITS BLOG.
Proskauer's Employee Benefits & Executive Compensa
JANUARY 31, 2023
Act of 2022 (“ SECURE 2.0 ”) that was signed into law on December 29, 2022 as part of the 2023 Consolidated Appropriations Act includes a slew of changes for retirement plan sponsors and employers. please see our other blog posts or contact a member of Proskauer’s Employee Benefits and Executive Compensation group.
Proskauer's Employee Benefits & Executive Compensa
NOVEMBER 2, 2022
Twelve years after the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and many years after the Securities and Exchange Commission started considering regulations implementing the clawback provisions of Dodd-Frank, the SEC published the Final “Clawback” Rules (the “Final Rules”) on October 26, 2022.
McDermott Will & Emery Employee Benefits
SEPTEMBER 15, 2022
On August 25, 2022, the US Securities and Exchange Commission (SEC) adopted final rules to implement the pay versus performance disclosure requirement mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
McDermott Will & Emery Employee Benefits
JUNE 9, 2022
On May 5, 2022, McDermott Partner Erin Turley delivered a presentation during the 2022 TEA National Conference titled “Understanding a Trustee’s Role in Management Incentive Plans.”
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