In April 2018, new disability benefit claims regulations from the Department of Labor (DOL) went into effect.
The regulations apply to more than just ERISA plans that provide disability benefits in a traditional sense (e.g., a long-term disability plan). They also apply to any plan that ...
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How Many Shares Should an Owner Sell to the ESOP?
Figuring out how many shares to sell to the ESOP is a fundamental decision in planning for an employee stock ownership plan (ESOP). Owners are often surprised that this decision-making process helps them clarify their short- and long-term goals for both themselves and their companies. A number of ...
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ESOPs: The Three Types
This article will acquaint you with the utility of the ESOP as both a technique of corporate finance and an employee benefit plan. It is important to note, however, that there are other employee benefit plans that can be used to invest in stock of the employer sponsor. There are profit ...
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Five Ways ESOPs Fit Your Succession Plan
An ESOP can be a powerful succession planning tool for your business. But relatively few advisors in the marketplace know enough about ESOPs to give you the information you need. We'll give you a head start. Here are five ways an ESOP can fit, or even drive, your succession ...
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Self Correction Program – 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 today's ...
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ESOP Distributions: Problems to Avoid
ESOP distributions can be the most complex and challenging area of ESOP design and administration. As discussed in detail in our articles Designing And Drafting ESOPs[1], and Avoiding ERISA Liability Issues In ESOP Repurchase Liability Planning[2], ESOP sponsors and fiduciaries must be extremely ...
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Switching Record-Keepers? Avoid Common Pitfalls
Plan sponsors seriously disadvantage themselves and their plan participants by announcing the migration of their plan from one record-keeper to a new record-keeper before all the conditions for a smooth transition have been fulfilled.
There are record-keepers that know this and take full ...
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Public Employer Plans: Giving Employees Benefit Choices Can Lead To Problems
When our public agency clients negotiate with their collectively bargained employees, both sides strive to make the most of limited compensation and benefits dollars. Sometimes the parties believe they can create greater value by letting the employees choose between two employer-provided benefits. ...
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Retirement Plan Eligibility Mistakes That Can Surface in M&A Transactions
Retirement plan eligibility mistakes are on the IRS list of the top 10 most common retirement plan errors that are brought to its Voluntary Correction Program. According to the IRS, this mistake most often surfaces as a result of a merger or acquisition. In this podcast Wendy Gilligan discusses ...
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Confused by the terminology? Check our Glossary of Terms