Deferred Compensation News and Updates

Deferred Compensation News brings you the latest information and insights on 409A nonqualified deferred compensation; institutional COLI, BOLI, and ICOLI; tax-and cost-efficient non-COLI funding strategies; low-cost tax managed non-COLI asset/liability designs; executive benefits benchmarking; succession planning and timely issues of executive pay and benefits. 
Featured image for “Important Changes in the Rules for Hardship Withdrawals from 403(b) Retirement Plans”
March 12, 2019

Important Changes in the Rules for Hardship Withdrawals from 403(b) Retirement Plans


Effective January 1, 2019, the rules for hardship withdrawals from many types of retirement plans changed. The changes, which come as a result of revisions to the Tax Cuts and Jobs Act of 2017 and, more specifically, the Bipartisan Budget Act of 2018, generally make it easier for plan participants to withdraw funds from their 401(k) or 403(b) plans, in the event of immediate financial need. Some of the changes to the rules for hardship withdrawals include: The required six-month suspension from making elective or employee contributions to any employer plan after taking a hardship withdrawal has been eliminated. The change is effective January 1, 2020 but can be applied as early as January 1, 2019. The requirement that the plan participant take out a loan or otherwise exhaust his/her borrowing capability before requesting a hardship withdrawal is now an optional condition. This change is effective for plan years beginning after December 31, 2018. The sources of money that can be included in funding hardship withdrawals have been expanded to include safe harbor contributions and investment earnings. Acceptance by the plan provider of self-certification of need, previously optional, is now required for distributions occurring after January 1, 2020. The plan
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Featured image for “2018 Year-End Compliance Checklist Employment Benefit Plans Isler Dare”
November 20, 2018

2018 Year-End Compliance Checklist Employment Benefit Plans Isler Dare


This checklist of end-of-year employee benefits compliance deadlines is provided courtesy of Isler Dare PC ( and was written by Andrea I. O’Brien, Vi D. Nguyen, and Ashley F. Hedge. 2018 Year-End Compliance Checklist As 2018 quickly comes to a close, we wanted to remind employers of some key year-end compliance deadlines for their retirement and health and welfare plans. DEADLINE:  November 15, 2018 SBCs and Health Plan Notices You should distribute a Summary of Benefits and Coverage (“SBC”) for each group health plan option that you offer. Also, if you have not already provided the following documents to employees (or other required recipients) during open enrollment or at some other time this Fall, you should distribute: An updated CHIP notice (Children’s Health Insurance Notice) The annual notice required under the Women’s Health & Cancer Rights Act A Medicare Part D notice A notice of “grandfathered plan status” under the ACA (Affordable Care Act or Obamacare) (if applicable) A HIPAA (Health Insurance Portability and Accountability Act of 1996) notice of privacy practices for any self-funded plans, or a statement describing the availability of the HIPAA notice of privacy practices and where the notice can be accessed The ADA (American Disabilities
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