Retirement plans face increased risks for cyber-attacks resulting in theft of plan assets. Few entities can keep up with the pace set by cyber-criminals for theft from accounts, and security requirements for industries protecting funds change often and rapidly. WhenContinue Reading Can employers face liability when a cyber-attacker steals funds from an employee’s individual 401(k) account?
Mac McLean is a certified tax specialist with Haynsworth Sinkler Boyd, advising employers on employee benefits compliance under the Employee Retirement Income and Security Act (ERISA), IRS Revenue Code and Department of Labor’s Employee Benefits Security Administration (EBSA) Division.
Join Haynsworth Sinkler Boyd’s Mac McLean for our next employment law webinar on April 20, from 12-1 PM EDT, where he will discuss the SECURE Act 2.0. Topics covered during this presentation will include:
- Overview of the Setting Every Community
In late December of 2022, the Consolidated Appropriations Act of 2023 (the “Act”), which was part of the larger Securing a Strong Retirement Act, became law. Approximately ninety provisions in the Act affect qualified retirement plans. The Act has been…Continue Reading The SECURE Act 2.0 Makes Major Changes to Retirement Plan Law
The IRS Employee Plans Compliance Resolution System (EPCRS) permits any plan sponsor of a retirement plan (including SEP and SIMPLE IRA plans) to correct plan failures. Three correction programs exist:
- Self-Correction Program (SCP) – authorizes corrections, consistent with recommended fixes