Cybersecurity has become an integral concern for employers and employee benefit plans alike. With an increase in DOL cybersecurity audits, plan fiduciaries are looking to strengthen their cybersecurity practices more than ever before. What specific risks are plans facing? Who is responsible for keeping plans safe, and what legal duties do they have? What steps

Synopsis: On June 3, 2022, the IRS announced the launch of a “pre-examination” compliance program. Under the new program, the IRS sends letters to plan sponsors about an upcoming examination of their retirement plan or plans. The letter gives the plan sponsor 90 days to voluntarily review its retirement plan(s) for plan document and operational

Thursday, October 8, 2020
3:00 p.m. to 4:00 p.m. Eastern
2:00 p.m. to 3:00 p.m. Central
1:00 p.m. to 2:00 p.m. Mountain
12:00 p.m. to 1:00 p.m. Pacific

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COVID-19 has changed the landscape of retirement readiness for many employees. Employees have been furloughed or lost jobs and plan account balances have been negatively

Seyfarth Synopsis: With the background of the COVID-19 pandemic, the PBGC published unofficial guidance for plan sponsors of single-employer plans on certain reportable events, PBGC premium payments and plan termination issues. The Q&As (found here) provide detail on when and how to report a failure to make required minimum contributions in light of the

As we all are aware, the global pandemic is a force to be reckoned with. Life as we now know it looks completely different than what we had expected a mere few months ago. Nowhere is this more evident than in the financial fortunes of US companies and workers. In response, Congress passed the Coronavirus

Seyfarth Synopsis: Due to the significant economic impact of COVID-19 on businesses, many plan sponsors would like to reduce or suspend contributions to safe harbor 401(k) plans this year. Normally, mid-year changes to safe harbor contributions can only be made in narrow circumstances. In response to employer requests for relief, the IRS has issued Notice