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Save It for a Rainy Day: Recent Amendment Extensions for Qualified Retirement Plans, 403(b) Plans and Individual Retirement Accounts

McDermott Will & Emery Employee Benefits

The post Save It for a Rainy Day: Recent Amendment Extensions for Qualified Retirement Plans, 403(b) Plans and Individual Retirement Accounts appeared first on EMPLOYEE BENEFITS BLOG.

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M&A in your future? You need an Employee Benefits Audit.

CorpStrat

A thorough employee benefit review is critical for every company, but particularly those that are considering entering and preparing for any M&A activity. Here’s a quick hit list of issues that should be reviewed and addressed: Have you benchmarked your Employee Benefits package against companies of similar size in your industry?

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Top 10 Compensation Courses & Certifications in 2024

HR Lineup

Key Features: In-depth modules on compensation management fundamentals. Focus on the latest trends in compensation, including pay equity and executive compensation. Best For: HR professionals aiming to specialize in compensation or those already working in compensation roles seeking formal recognition of their expertise.

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Employment Agreements and Employment Litigation

McDermott Will & Emery Employee Benefits

In these slides, McDermott Partners Andrew Liazos and Ashley Altschuler summarize some of the key developments in hiring, executive compensation, remote work and more. The post Employment Agreements and Employment Litigation appeared first on EMPLOYEE BENEFITS BLOG. Access the slides.

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Save It for a Rainy Day Part 2: IRS Announces Additional Plan Amendment Extensions

McDermott Will & Emery Employee Benefits

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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IRS Announces Delay of Implementation of SECURE 2.0 Act’s Roth Catch-up Contribution Provision for Two Years

Benefits Notes

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.

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The Fiduciary Duties of 457(b) Plans and How to Mitigate Potential Risks

McDermott Will & Emery Employee Benefits

Fiduciaries of 403(b), 401(a) and 457(b) retirement plans have come under increased scrutiny in recent years, in part due to participant lawsuits filed against plan sponsors and the resulting media attention.