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 ...
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Resources
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 ...
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M&A Due Diligence: Retirement Plan Eligibility Mistakes That Can Surface in Transactions
As part of M&A due diligence we review for plan eligibility errors, one of the IRS's noted top 10 most common retirement plan errors submitted to its Voluntary Correction Program. According to the IRS, this mistake most often surfaces as a result ...
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No Fooling: New Rules For An SBA-Guaranteed ESOP Loan Took Effect April 1
The changes that the Main Street Employee Ownership Act made to the Small Business Administration's lending rules for ESOP transactions are now in effect. The revised rule makes an SBA-guaranteed ESOP loan potentially more attractive for sellers who ...
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COBRA: Don’t Pick It Up As Part Of Your Next Deal
"Who has to pay for COBRA coverage?" is a question we often hear from transaction lawyers and their clients in a stock sale or an asset sale. COBRA requires some employers to provide certain participants and their beneficiaries with group health ...
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It Pays to Give Your Retirement Plan A Comprehensive Review
Employee Benefits Law Group often works on retirement plans that have been in place for years and we know that simply making sure a plan is up to date is not enough.
We look at a plan’s “foundational basis.” If the underlying plan design, tax ...
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