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Retirement Plan Sponsors and Service Providers – What You Need to Know About Missing Participants

February 22, 2022 Media Mentions
PLANSPONSOR

Verrill partner Kimberly Couch was recently featured in the PLANSPONSOR article “The Process for Issuing RMDs When Participants Are ‘Missing.'" The article discusses the steps that retirement plan sponsors and service providers must follow to find missing participants and ensure all required minimum distribution payments are made and penalties are avoided. Couch commented, “Failure to do so can lead to the plan losing its favorable IRS tax treatment and could even end in plan disqualification.”

Read the entirety of this article on PLANSPONSOR.com.

Firm Highlights

Publication/Podcast

Five Recommended Practices for ERISA Retirement Plan Administrative Fiduciaries

Verrill’s Employee Benefits & Executive Compensation Group is often asked about “best practices” for benefit plan administration and whether we can provide any resources to help plan sponsors and fiduciaries improve compliance with the...

Blog

Catch-Up Contributions: IRS Provides Relief from Roth Requirements of SECURE 2.0

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Matter

Advised Fortune 500 Company on Group Health and Welfare Benefit Plans

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Publication/Podcast

More to Consider Concerning the FTC’s Proposed Rule Prohibiting Non-Competition Clauses

Updated 2/9/2023: The proposed rule is open to public comment for a period ending March 20, 2023. As previously reported by Verrill attorney Tawny Alvarez in the firm’s “Taking Care of HR Business” blog...

News

82 Verrill Attorneys Recognized by Best Lawyers® 2024, Including 10 Named Lawyers of the Year

Blog

Retiree Medical Coverage: Just Get the COBRA Waiver

The interaction between employer-provided retiree medical coverage and COBRA [1] is complex. Many employers incorrectly assume they do not have to offer COBRA at retirement if they offer a retiree medical plan or a...

Blog

DOL Continues Enforcement of Non-Quantitative Treatment Limitation Requirements

Introduction : Fifteen months ago, we wrote that the U.S. Department of Labor (“DOL”) had informed Congress that it intended to devote substantial resources to enforcing the new comparative analysis requirement for non-quantitative treatment...

Matter

Comprehensive Benefit Plans Representation of Seller in Strategic Acquisition

We represented the largest physician network in Massachusetts in the employee benefits and executive compensation aspects of its acquisition by one of the largest health care companies in the United States. After several rounds...

News

Verrill Welcomes Kaitlyn Malkin to Firm’s Employee Benefits and Executive Compensation Group

Publication/Podcast

Establishing Practices and Procedures to Support Retirement Plan Self-Correction

The opportunity to self-correct mistakes in maintaining a retirement plan has been dramatically expanded by the SECURE 2.0 Act of 2022 (“SECURE 2.0”); see our February 10 blog post for details. However, IRS interim...

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