Firm Highlights

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...

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...

Blog

Establishing Practices and Procedures to Support Self-Correction of Operational Failures

The self-correction of retirement plan operational failures under IRS correction principles has been conditioned upon a plan sponsor’s establishment of compliance practices and procedures since the creation of the Employee Plans Compliance Resolution System...

News

30 Verrill Attorneys, Across Four Offices, Recognized in 2023 Chambers & Partners Guide

Blog

How to Comply with the Health FSA Debit Card Claims Substantiation Rules

The IRS’s recent Chief Counsel Advice Memorandum 202317020 (the “Memo”) brings into focus the importance of compliance with the debit card claims substantiation requirements for medical care expenses reimbursed or paid for through a...

Blog

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

On August 25, 2023, the IRS issued IRS Notice 2023-62 , providing much needed relief for employers who have been struggling to implement Section 603 of the SECURE 2.0 Act of 2022 (“SECURE 2.0&rdquo...

Blog

Reasonable Compensation Under ERISA: Thoughts on Two Recent Cases

Two recent court decisions bring into focus two seldom-asked questions about the reasonable compensation requirement under ERISA. When must an ERISA plan’s service provider compensation be reasonable? And why shouldn’t a plan fiduciary be...

Blog

Update on the Debate over Environmental, Social, and Corporate Governance Investing

The debate over investment of retirement plan funds based on environmental, social, and corporate governance (“ESG”) factors continues to make waves. This post provides a high-level overview of the current state of play for...

News

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

Matter

Defined Contribution Plans Investment Menu Harmonization

We advised a major Massachusetts health system regarding the harmonization and rationalization of more than two dozen defined contribution plans with participant-directed investments, which were the combined legacy of several mergers by which the...

Contact Verrill at (855) 307 0700