Retirement plans often apply (and in some cases are required to use) multiple definitions of wages or compensation for various plan purposes. Given this complexity, failures to follow a plan’s definition of compensation are one of the most common issues experienced by retirement plan sponsors. Unfortunately, as drafted, the SECURE 2.0 Act only adds to that complexity.
Just Catching Up? Wages, by Any Other Name, Not So Sweet for Employers Under SECURE 2.0
By Sarah L. Engle and Brian Tiemann on June 30, 2023
Sarah L. EngleSarah Engle focuses her practice on employee benefits matters. She counsels clients regarding a variety of issues, including the design, drafting and operation of tax-qualified pension and profit sharing plans, health and welfare arrangements, and deferred compensation plans. Sarah has experience advising clients on employee benefits design, implementation and transition matters arising in connection with corporate mergers and acquisitions. Read Sarah Engle's full bio.
Brian TiemannBrian J. Tiemann counsels public and private companies on a broad range of employee benefit matters, including matters related to pension plans, 401(k) plans and executive and incentive compensation. He advises plan fiduciaries with respect to their fiduciary duties, investment policies and alternative investments. He also advises multinational clients on global employee benefits matters, particularly with respect to global incentive compensation plans. Brian has extensive experience negotiating investment management agreements and service provider agreements. Read Brian Tiemann's full bio.
Related Posts
- SECURE 2.0 Technical Corrections Are on the Way, Eventually
- Just Catching Up? Oops! Congress Clarifies Catch-Up Contributions Are Here to Stay
- Just Catching Up? Payroll Challenges Plague Roth Catch-Up Contribution Implementation
- Just Catching Up? All for One, or None for All, Catch-Up Contributions Under SECURE 2.0
- Just Catching Up? SECURE 2.0 Roth Catch-Up Contribution Requirement Leaves More Questions than Answers
BLOG EDITORS
STAY CONNECTED
TOPICS
ARCHIVES
RECENT POSTS
- New York Proposes Regulations Expanding State’s Ability to Regulate PBMs
- The Proposed MHPAEA Regulations’ ‘Meaning of Terms’ Part Two: Processes, Strategies, Evidentiary Standards and Other Factors
- An Update on the No Surprises Act
- NLRB Undercuts Work Rules and Policies for Unionized and Nonunionized Employers
- The Proposed MHPAEA Regulations’ ‘Meaning of Terms’ Part One: Benefits
