Specialists in ERISA and Employee Benefits Law​

Blog

IRS Issues Updated Life Expectancy Tables for Use in Calculating RMDs

The mortality tables affecting required minimum distributions have been updated after two decades.

Read More →
Finding Missing Participants – the DOL’s Prescription

Missing participants are a liability for any retirement plan.

Read More →
A Committee Makes Plan Administration More Manageable

A group formed as a permanent, chartered plan committee, provides an effective strategy for managing the challenges and responsibilities of plan oversight.

Read More →
Health & Welfare Plans

The Inadvertent MEWA

 A misunderstanding or a change in ownership could mean that there are actually multiple employers participating in a single welfare plan; what if no one realizes this or its impact on the welfare plan?

Read More »
Retirement Plans

Correction War Stories (Part I): Oops, Was that Plan Compensation?

Using an inaccurate definition of compensation can be a small mistake that ends up being a big mistake. Such a failure directly affects contributions and can affect a few participants, all participants, or something in between. And even though the amounts involved may be small from payroll-to-payroll, they can go undetected (and therefore uncorrected) for many years, adding up to significant amounts required for correction.

Read More »
ROBS Plans

ROBS Funding is Two Things in One Transaction– Start-up Capital and a Retirement Plan Asset

As any search engine will reveal, there are plenty of websites and articles describing the joys of using employee retirement plans to fund a business start-up, in transactions commonly referred to as ROBS (Rollover Business Start-Up). This post discusses the basics of the typical ROBS transaction.

Read More »
Retirement Plans

Tick, Tock, the DC Restatement Clock is Running Out!

Time is winding down for defined contribution plans to be restated by the July 31, 2022 deadline. Where are you in the process?

Read More »
Health & Welfare Plans

Happy New Year! IRS Proposes Permanent Extension of Deadline to Furnish Individual Statements of Health Care Coverage

The IRS has extended the deadline to provide statements to individuals regarding their health care coverage and the employer’s offer of minimum essential coverage from …

Read More »
Announcements

Happy New Year from KLB Benefits Law Group

KLB Benefits Law Group wishes you a happy, healthy, and prosperous 2022!

Read More »
ROBS Plans

ROBS Succession Planning (Part 2): How the Company Can Survive the Death of a Co-Owner

When one of the owner-participants in a ROBS plan dies, the assets in the decedent’s account, including the company stock, must be transferred to a new plan account established for the beneficiary.

Read More »
Washington DC
Announcements

Kolb & Associates is now KLB Benefits Law Group!

We have a new look, a new name, and a new website.

Read More »
Retirement Plans

No More John Doe VCP

The IRS has eliminated the Anonymous VCP program effective December 31, 2021.

Read More »
Health & Welfare Plans

Extensions Continue for COBRA, Special Enrollment Periods, and Claims Procedures

In May 2020, the EBSA and the IRS extended certain timeframes affecting employee benefit plans

Read More »
ROBS Plans

Understanding the ROBS Succession Problem

You’ve finally got the financing together to fulfill your dream of company ownership, thanks to a Rollover Business Start-Up, aka a “ROBS” transaction.

Read More »
403(b) Plans

Hey, 403(b) Plan Sponsor – Do you know where your employees work?

There are annual limits to the amount that companies and their employees may contribute to defined contribution plans.

Read More »

The Inadvertent MEWA

 A misunderstanding or a change in ownership could mean that there are actually multiple employers participating in a single welfare plan; what if no one realizes this or its impact on the welfare plan?

Read More »

Correction War Stories (Part I): Oops, Was that Plan Compensation?

Using an inaccurate definition of compensation can be a small mistake that ends up being a big mistake. Such a failure directly affects contributions and can affect a few participants, all participants, or something in between. And even though the amounts involved may be small from payroll-to-payroll, they can go undetected (and therefore uncorrected) for many years, adding up to significant amounts required for correction.

Read More »

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.