Posts Categorized: Qualified Plans

Updated: IRS, PBGC and DOL Provide Additional Hurricane and Wildfire Relief

in Qualified Plans, Retiree Benefits, Retirement Plans, Welfare Benefits

Updated November 21, 2017 By: Sterling Perkinson and Harrison Taylor The IRS issued an announcement paralleling the relief granted to Hurricane Harvey victims to those in Florida affected by Hurricane Irma.  Announcement 2017-13 (the “Announcement”) relaxes hardship distribution standards for employees who live or work in a Florida county designated by FEMA to receive funds on account of Hurricane Irma, or who have family, such as parents, grandparents, children or grandchildren or dependents with a principal residence in an affected county. The full list of affected Florida counties can be found here. See our prior blog post on Hurricane Harvey… Continue Reading

The Fiduciary Rule – Bark or Whimper?

in Qualified Plans, Retirement Plans

The Fiduciary Rule will become applicable on June 9, causing registered investment advisers, broker dealers, and certain other service providers to retirement plans and IRAs to become subject to the standards of conduct required of ERISA fiduciaries and the prohibited transaction rules of ERISA and the Internal Revenue Code (Code) with respect to investment advice provided to 401(k), pension, or other plans subject to Title I of ERISA (ERISA Plans) and their participants, as well as IRA owners. However, the DOL has also provided a transition period, running from June 9, 2017 through December 31, 2017, during which the DOL… Continue Reading