Showing 24 posts by Amanda J. Dernovshek.
Navigating Long-Term Part-Time Employee Eligibility Rules for 401(k) Plans
The landscape of retirement plan eligibility is shifting, and plan sponsors need to prepare for key compliance changes affecting long-term part-time (“LTPT”) employees. These new rules, mandated by the SECURE Act of 2019 and expanded under the SECURE 2.0 Act of 2022, aim to improve retirement plan access for employees who work on a part-time basis for extended periods of time. Employers who sponsor 401(k) plans must ensure they understand and implement these changes to remain compliant and support their workforce effectively. Read More ›
Categories: Employee Benefits, Employment, Retirement
Share
IRS Announces 2025 Cost-of-Living Adjustments for Retirement Plans and for Health and Welfare Benefit Plans
This blog has been updated since December 4, 2023. The data below is current.
The IRS has announced the 2025 cost-of-living adjustments for retirement plan and health and welfare benefit plan limitations. The charts below set forth the applicable limitations. Read More ›
Categories: Employee Benefits, Retirement
DOL Echoes Employee Benefits and Cybersecurity Best Practices
On April 14, 2021, the U.S. Department of Labor’s (“DOL”) Employee Benefits Security Administration (“EBSA”) issued its first cybersecurity best practices guidance for retirement plans. The EBSA guidance was highly anticipated as the frequency and cost of data breaches affecting employee benefit plans continues to rise. Read More ›
Categories: Alerts and Updates, Cybersecurity, Department of Labor, Employee Benefits, IT Contracts, Technology
Is it Time to Update and Restate Your Summary Plan Description?
A Summary Plan Description, often referred to as an “SPD”, is a document intended to clearly describe and explain the important provisions of an employee benefit plan. The SPD must be written in such a way that the average employee will understand the benefits, rights and rules of the plan. Read More ›
Categories: Employee Benefits
The Corporate Transparency Act and its Impact on ESOPs
The Corporate Transparency Act (“CTA”), which became effective on January 1, 2024, requires that many businesses report a significant amount of information about the company and its “beneficial owners” to a federal database. This article outlines the general rule, exceptions to the rule, the definition of “beneficial owner” and the CTA’s implications for companies owned by Employee Stock Ownership Plans (“ESOPs”). Read More ›
Categories: Corporate Transparency Act (CTA), Employee Benefits, Employment, Technology
The Importance of Adopting an E-Signature Policy for Your Business
Given the ever-changing landscape and increasing popularity of remote work, the use of electronic signatures (“e-signatures”) is on the rise. Business in general is going virtual, causing electronic transactions and online interactions to become more common. To accommodate this new digital environment, legislators have passed laws to permit the use of e-signatures to bind individuals to electronic agreements. In addition to keeping up with the evolution of online business, providing your organization with a reliable e-signature policy is pivotal to ensure clear reliance on and expectations for e-signatures. Read More ›
Categories: Alerts and Updates, Compliance, Contracts, E-Commerce, Technology
Process and Requirements of Women-Owned Small Business Certification
The federal government, states, and some cities set aside a percentage of funding to help women-owned businesses. In fact, in 2021, the federal government set aside 5% of its annual spending for businesses that obtained a Small Business Association (“SBA”) Women-Owned Certification (WOSB). Read More ›
Categories: Compliance, Startup
IRS Makes it Easier to Correct Certain Retirement Plan Compliance Issues
On July 16, 2021, the IRS issued Revenue Procedure 2021-30, an updated version of the Employee Plans Compliance Resolution System (“EPCRS”). Retirement plan sponsors may use EPCRS to correct certain compliance mistakes, and avoid the adverse tax consequences associated with plan disqualification.
We have provided a summary of the changes below. Read More ›
Categories: Employee Benefits, Retirement
Department of Labor Releases Employee Benefits and Cybersecurity Best Practices
On April 14, 2021, the U.S. Department of Labor’s (“DOL’s”) Employee Benefits Security Administration (“EBSA”) issued its first cybersecurity best practices guidance for retirement plans. The EBSA guidance has been highly anticipated as the frequency and cost of data breaches affecting employee benefit plans continues to rise. The EBSA guidance focuses on actions that plan sponsors, plan fiduciaries, record-keepers, and plan participants can take. Read More ›
Categories: Cybersecurity, Department of Labor, Employee Benefits
A Brief Legal Guide to Buying a Distressed Business
Earlier in the pandemic, our team identified the economic crisis caused by COVID-19 as a growth opportunity for businesses with the vision and the resources to take advantage. One such opportunity is the chance to diversify or grow by acquiring distressed competitors, suppliers, or customers. Read More ›
Categories: Chapter 11, Contracts, Mergers & Acquisitions
Categories
- Tax Disputes
- Technology
- Cybersecurity
- Inspirational
- Regulations
- National Labor Relations Board
- Insurance
- Employee Benefits
- Trademarks
- Intellectual Property
- Distribution
- E-Commerce
- Trade Secrets
- Defamation
- Retirement
- Hospice
- Lawsuit
- Department of Labor
- Licensing
- Estate Planning
- Entity Planning
- Crowdfunding
- Patents
- Corporate Transparency Act (CTA)
- Domain Name Registration
- Labor Relations
- Tax
- Billing/Payment
- Sales/Disputes
- Personal Publicity Rights
- Employment
- Startup
- IT Contracts
- Entity Selection, Organization & Planning
- Did you Know?
- Social Media
- HIPAA
- Alerts and Updates
- Liability
- Fraud & Abuse
- Elder Law
- Chapter 11
- Legislative Updates
- Compliance
- Sales Tax
- Cloud Computing
- Privacy
- Copyright
- Criminal
- Artificial Intelligence (AI)
- News
- Hospitals
- Contracts
- Financing
- Mergers & Acquisitions
- Electronic Health Records
- Digital Assets
- Venture Capital/Funding