Hello, PLANSPONSOR readers! Of course the big news this week is the announcement of contribution and benefits limits from the Internal Revenue Service (IRS), but there were also interesting developments in the courts. The AARP sued the Equal Employment Opportunity Commission (EEOC) for an injunction on its final wellness program rules, and since we reported that, an attorney has added some clarity about one of the AARP’s allegations that may surprise some plan sponsors. In addition, another church plan sponsor agreed to settle its lawsuit this week. We review procedures for correcting for an improper vesting calculation when a participant receives a payment, and the IRS has issued compliance relief for plan sponsors affected by Hurricane Matthew. All this and more in this edition of PLANSPONSOR Weekend.
Among other things, the lawsuit says the Equal Employment Opportunity Commission failed to adequately justify its reversal of position and ignored comments on the proposed rules that expressed concern.Read more >
The Internal Revenue Service (IRS) announced that defined contribution (DC) employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Matthew and members of their families.Read more >
Share the good news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more >
As the retirement plan industry looks ahead to the coming year, financial wellness is increasingly seen as a critical solution to help workers and retirees meet their goals.
