Retirement plan compensation failures are one of the top ten most common errors submitted to the IRS's Voluntary Compliance Program. In this podcast, Marcel Weiland discusses two scenarios of compensation failures in the area where we see it most often in our practice, bonus compensation. ...
[Read more] about Retirement Plan Compensation Failures: A Tale Of Two Errors
ESOP Plan Responsibilities
New ESOP companies often struggle to understand the roles and fiduciary responsibilities associated with managing the plan. No wonder. The words "administrative," "administrator," and "committee" are sprinkled through the lists of responsible parties and sometimes seem interchangeable.
Our ...
[Read more] about ESOP Plan Responsibilities
The IRS 401(k) Plan Checklist
Don't wait for an IRS audit to find out that your 401(k) plan is out of compliance.
The IRS's 401(k) Plan Checklist is a helpful tool to help assess whether your plan has fallen into the trap of the IRS's Top Ten Failures submitted for its Voluntary Correction Program. The checklist is largely ...
[Read more] about The IRS 401(k) Plan Checklist
M&A Transactions: Benefits Due Diligence
Buyer's counsel brought us in on a stock sale transaction last year to handle the M&A due diligence on the seller's employee benefits. In discussing the scope of our work with seller's counsel and in-house attorneys, we laid out the options in a way that will probably seem familiar to most ...
[Read more] about M&A Transactions: Benefits Due Diligence
Retirement Plan Participant Loan Errors: Loan Caps And Repayment
In this podcast, Marcel Weiland discusses retirement plan participant loan errors involving IRS rules governing the loan caps and repayment schedule, the potential consequences of a compliance failure to the plan sponsor and employee, and plan correction.
TRANSCRIPT
Speaking of Benefits, ...
[Read more] about Retirement Plan Participant Loan Errors: Loan Caps And Repayment
ESOP Reverse Allocations
This article describes the use of reverse allocations in Employee Stock Ownership Plan (ESOP) companies to provide a meaningful number of shares for newer and younger employees and to help ensure the ESOP's sustainability.
ESOPs reward longevity and provide a meaningful stake in a company's ...
[Read more] about ESOP Reverse Allocations
M&A Employee Benefits Due Diligence: An Efficient Approach
Employee benefits due diligence during a transaction can protect buyers from unpleasant surprises post-closing and give sellers a negotiating edge by ensuring that their benefits plans have a clean bill of health. It provides confidence to both sides that the benefits part of the deal is taken care ...
[Read more] about M&A Employee Benefits Due Diligence: An Efficient Approach
2018 Disability Claims Regulations Apply To More Than Just Disability Plans
Do They Apply to Your Plans?
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 ...
[Read more] about 2018 Disability Claims Regulations Apply To More Than Just Disability Plans
ESOP Planning: How Many Shares Should The Owner Sell
Figuring out how many shares to sell to the ESOP is a fundamental decision part of the planning process. In the final installment of our 4-part series, we look at some of the factors in play when making that calculation. In Part 1 we look at ESOP Basics. Part 2 discusses how to determine if an ESOP ...
[Read more] about ESOP Planning: How Many Shares Should The Owner Sell
Confused by the terminology? Check our Glossary of Terms