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Plan Administrators: An SPD is Not the Same Thing as a Plan Document
Frequently, when I ask a client—generally the person in human resources who is responsible for benefits administration—for a copy of the plan document, what I
Penalties for Certain Employee Benefits Failures
Penalty 2024 2023 FORM 5500 Late Form 5500 per filing, no cap, no statute of limitations up to $2,670 per day[i] up to $2,586 per
Do You Need A Compensation Review? (Hint: Yes, Yes You Do)
The definition of compensation in a retirement plan is a pivotal element that affects how deferrals, matching contributions, profit sharing contributions, and plan limits are
The NUA Transaction: How to Exit Your ROBS Plan Without a Cash Redemption
When a ROBS owner is ready to transition out of a ROBS arrangement, it can be very expensive for the company to accomplish the exit
New Clarity Regarding Plans Affected by the Automatic Enrollment Requirements Beginning in 2025
The various automatic deferral contribution arrangements in qualified retirement plans can be helpful and a headache at the same time. By making participation the plan
How Long Should a Plan Sponsor Hold On to Plan Documents?
Record retention is an important but frequently confusing task. What is required? What is a best practice? While the answer to these questions vary based
Ownership Attribution Rules for ROBS Plans– Focus on IRC Section 318
For the non-plan business operations of a ROBS company, it is easy to identify the company owner—it’s the so-called “ROBS owner,” who is very likely
KLB Benefits Law Group Wishes You a Wonderful President’s Day Weekend
In observance of the holiday, our offices will be closed on Monday, February 19th, 2024.
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DISCLAIMER
This publication is designed to provide general information on pertinent legal topics. The statements made are provided for educational purposes only. They do not constitute legal or financial advice nor do they necessarily reflect the views of KLB Benefits Law Group or any of its attorneys other than the author. This publication is not intended to create an attorney-client relationship between you and KLB Benefits Law Group. Substantive changes in the law subsequent to the date of this publication might affect the analysis or commentary. Similarly, the analysis may differ depending on the jurisdiction or circumstances. If you have specific questions as to the application of the law to your activities, you should seek the advice of your legal counsel.