Last December before panic set in, Congress passed the SECURE Act. Beginning in 2021, banks, insurance companies, and other financial institutions may begin offering Pooled Employer Plans (PEPs). A PEP is a 401(k) or profit-sharing plan with multiple, unrelated employers. Assets are ...
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About Jim Paul
Benefit Plans in M&A Deals – Avoiding That Call After the Deal Has Closed
Thankfully, mergers and acquisitions continue at a good pace even in this impacted economy. We do still see buyers and sellers that struggle with employee benefit due diligence issues though. Deal counsel often gets calls from their clients – after closing – about what wasn’t spotted. For ...
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CARES Act – Retirement Plan Loans & Distributions Relief For Employees
The Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law on March 27th, providing relief for employees in the form of expanded retirement plan loan and distribution options. Here's what plan sponsors should know right now.
In-Service ...
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Your Employee Benefits Plans – What You Need To Think About Right Now
Businesses large and small are hustling to continue operations, manage cash flow and avoid layoffs and terminations if possible. We've been through this before and we're ready to share our employee benefits experience from past economic disruptions.
We're available to provide guidance about ...
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Managing Retirement Plan Risk – What Executives, Directors And Business Owners Should Know
Officers, directors and business owners can have personal liability if the company’s retirement plans aren’t properly managed. Do you know who your plan fiduciaries are? Do you know if you’re one of them?
TRANSCRIPT
Speaking of benefits, this is Jim Paul. Today we're going to be ...
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The SECURE Act: Immediate And Long Term Impacts On Your 401(k) Plan
The SECURE Act, signed into law in December, immediately impacts 401(k) plans with provisions that became effective January 1st, and other provisions going into effect in later years. Here is an overview of the relevant changes.
Changes Effective Now
For 401(k) Safe Harbor Plans that use ...
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Plan Loan Correction – Good News From The IRS
In today's episode, we talk about new opportunities from the IRS to self-correct plan participant loan errors, which previously were the fourth most common error found in the IRS's more complex Voluntary Correction Program.
Transcript
Speaking of Benefits, this is Jim Paul.
In ...
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The Affordable Care Act During M&A Due Diligence
The Affordable Care Act is still a concern during an M&A transaction. In this podcast, Jim Paul explains why.
Transcript
The Affordable Care Act is still out there. Penalties for individuals were repealed, but employer penalties are still in effect. The IRS has started sending out ...
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