She has extensive experience counseling and litigating in the employee benefits area, including traditional defined benefit, cash balance, 401(k), profit-sharing and money purchase pension plans; executive compensation and § 409A; § 403(b) plans, § 457 plans and other plans for tax-exempt organizations; ESOPs; cafeteria plans; VEBAs and self-insured medical plans and other welfare plans. Her experience includes plan selection, formulation and drafting, regulatory compliance, audits, voluntary compliance, prohibited transactions and fiduciary duty requirements, separate line of business issues, use and handling of employee benefits and benefit plans in corporate transactions, and ERISA litigation.
During a participant’s lifetime, required minimum distributions (“RMDs”) from a defined contribution plan are relatively small in size. Less favorable treatment may apply after the participant’s death, depending on the distribution options offered by the plan, the form of distribution elected by the participant, the age of the beneficiary and the relationship between the participant … Continue Reading
Regulatory safe harbors play a critical role in the design of employee benefit plans by: Providing concrete guidance on how to comply with the complex rules that govern plans; Facilitating efficient, effective and consistent plan administration; and Encouraging employers to establish and continue their employee benefit plans and furthering participants’ understanding of the rules. Without … Continue Reading
The Internal Revenue Service issued Revenue Procedure 2013-22 yesterday (March 28, 2013). The Revenue Procedure describes the Service’s new procedure for issuing opinion letters and advisory letters for prototype and volume-submitter § 403(b) plans; it revises the proposed procedure that was released four years ago in Announcement 2009-34. As part of the proposed procedure, the … Continue Reading
A § 403(b) plan that failed to adopt a plan document by December 31, 2009 is not entitled to favorable tax treatment. However, under new guidance, a plan may regain its favorable tax treatment if it adopts a written plan document and requests a compliance statement through the Voluntary Compliance Program (“VCP”). The IRS recently released … Continue Reading