SECURE 2.0 Act Relief for Plan Corrections
Williams Mullen's Benefits Companion
Release Date: 10/03/2023
ESOPs Explained
Williams Mullen's Benefits Companion
Thinking about succession planning, employee engagement, or selling your business? On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined by Nona Massengill, a partner focusing on Executive Compensation. Nona demystifies Employee Stock Ownership Plans (ESOPs) from a business owner’s perspective. She breaks down what an ESOP is (and what it’s not), who can implement one, and how these plans can create meaningful tax advantages and culture-building opportunities for companies taxed as corporations.
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Gag Clause Prohibitions
Williams Mullen's Benefits Companion
On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt discusses prohibitive gag clauses under the Consolidated Appropriations Act (CAA). While intended to promote transparency, not all gag clauses are obvious. With new guidance from the Department of Labor now in effect, what exactly must plan administrators do to comply? From identifying problematic provisions to submitting the required attestations, we break down the practical and legal implications of this evolving compliance requirement.
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Forfeitures Under Fire
Williams Mullen's Benefits Companion
On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt unpacks the growing legal controversy surrounding the use of forfeitures in retirement plans. With numerous lawsuits recently filed, plan sponsors and administrators are facing heightened scrutiny—and potential liability—over how forfeited funds are handled. We’ll discuss the evolving guidance from the Department of Labor, and what these lawsuits could mean for your fiduciary responsibilities.
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Navigating Fiduciary Responsibilities in a Tide-Turning ESG Era
Williams Mullen's Benefits Companion
On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined by Ken Barnes, vice president of investment consulting at SageView Advisory Group, who discusses the recent federal ruling against American Airlines, which has set a precedent that could reshape how corporate fiduciaries approach investment oversight and governance. They’ll explore why fiduciary duty to loyalty is under scrutiny and best practices for plan sponsors to avoid similar lawsuits.
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Big Changes to Catch-Up Contributions in 2025
Williams Mullen's Benefits Companion
On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt discusses big changes to contributions to retirement plans under SECURE 2.0 that begin in 2025. He covers the new “Super Catch-Up” contributions for 2025 and the required Roth catch-up contributions for high earners coming in 2026.
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Good News for the ACA in 2025
Williams Mullen's Benefits Companion
On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt discusses changes to the Affordable Care Act (ACA) positively impacting employers in 2025. He covers what’s new with reporting requirements designed to reduce the administrative burden on businesses and the subsequent implications of these changes for human resource professionals and benefits administrators.
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Tax Relief and Possible Retirement Plan Resources for Hurricane Victims
Williams Mullen's Benefits Companion
On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined by Kyle Wingfield, a partner in Williams Mullen’s Tax Section, who discusses the recently announced IRS tax relief for residents impacted by Hurricane Helene. Brydon also discusses ways employers may provide financial relief to Hurricane victims through their retirement plans.
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New IRS Guidance on SECURE 2.0 Act Student Loan Employer Contributions
Williams Mullen's Benefits Companion
On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt discusses the recent IRS guidance regarding provisions under the SECURE 2.0 Act which allows employers to make matching contributions on account of employees' qualified student loan payments under section 401(k) plans, section 403(b) plans, SIMPLE IRA plans, and governmental section 457(b) plans.
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Employment Law Edition: The Latest on Non-Competes and Independent Contractors
Williams Mullen's Benefits Companion
On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined by Laura Windsor, chair of Williams Mullen’s Labor, Employment and Immigration Section, who discusses two hot issues: non-competes and independent contractors. Are non-competes really banned? What are alternative solutions? Is having an independent contractor agreement enough? What are the potential penalties for misclassification? They’ll also reflect upon the August 20th federal judge ruling that blocked the FTC’s ban on non-compete clauses.
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ERISA Forfeiture Litigation
Williams Mullen's Benefits Companion
On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt discusses pending court cases regarding the proper use of forfeitures that arise under defined contribution plans. He outlines how these new developments present potential conflicts and liabilities that employers and fiduciary committees need to consider.
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