Rick Stepanovic
Subscribe to Rick Stepanovic's PostsRick Stepanovic focuses his practice on employee benefits and executive compensation matters. He has experience working on matters related to tax-qualified pension plans, health and welfare plans, and deferred compensation arrangements. He also has experience handling correction and administrative matters before the Internal Revenue Service and the Department of Labor. Read Rick Stepanovic's full bio.
Making Sure It Hurts: 2021 Increased Penalties for ERISA Violations
By Rick Stepanovic and Diane Morgenthaler on Feb 24, 2021
Posted In Employee Benefits, Health and Welfare Plans, Labor, Retirement Plans
The Department of Labor (DOL) made inflation adjustments to a wide range of penalties for Employee Retirement Income Security Act (ERISA) violations by employee benefit plans and plan sponsors. The new penalty amounts that apply in 2021 are included herein. Access the article.
Continue Reading
DOL Creates Path for 401(k) Plans to Offer Private Equity Investment Options
By Todd Solomon, Brian Tiemann and Rick Stepanovic on Oct 29, 2020
Posted In Employee Benefits, Fiduciary and Investment Issues
In June, the US Department of Labor issued an information letter indicating that it will allow defined contribution retirement plans (such as 401(k) plans) to indirectly invest in private equity funds. While information letters are not binding, this new guidance creates a significant opportunity for plan sponsors to consider investment options that include private equity...
Continue Reading
CARES Act Impacts All Benefit Plans
By Andrew Liazos, Erin Steele, Evan A. Belosa, Jacob Mattinson, Judith Wethall, Lindsay Ditlow, Lisa Loesel, Ralph E. DeJong, Rick Stepanovic, Samuel Everett Dewey, Sarah L. Engle and Steven G. Eckhaus on Mar 31, 2020
Posted In Employee Benefits, Employment, Executive Compensation, Health and Welfare Plans, Retirement Plans
In the ongoing effort to help individuals impacted by COVID-19, Congress passed the Coronavirus Aid, Relief, and Economic Securities Act (CARES Act) on March 27, 2020. The President signed the CARES Act into law the same day. The historic stimulus package provides wide-ranging relief for both employers and employees. This includes rules that impact health...
Continue Reading
Up, Up and Away: 2020 Increased Penalties for Employee Benefit Plans
By Alan D. Nesburg, PC, Diane Morgenthaler and Rick Stepanovic on Feb 13, 2020
Posted In Employee Benefits, Health and Welfare Plans, Retirement Plans
For 2020, legislation enacted in December of 2019 dramatically increases penalties imposed by the Internal Revenue Code (the Code) for late filing of certain employee benefit plan notices and reports. In addition, a final rule published by the Department of Labor (DOL) makes inflation adjustments to a wide range of penalties. Learn the penalty amounts...
Continue Reading
Frozen 2: IRS Expands Nondiscrimination Relief for Frozen Defined Benefit Pension Plans
By Alan D. Nesburg, PC, Diane Morgenthaler and Rick Stepanovic on Dec 10, 2019
Posted In Employee Benefits, Retirement Plans
The Internal Revenue Service (IRS) expanded the temporary relief for frozen defined benefit plans to include nondiscrimination requirements relating to benefits, rights and features, available for plan years beginning before 2021. The expanded relief enables frozen pension plans to satisfy the nondiscrimination requirements that apply to benefits, rights or features. Access the full article.
Continue Reading
Still Tax, Even Without the Distributed Cash
By Diane Morgenthaler, Rick Stepanovic and Stephen Pavlick on Oct 22, 2019
Posted In Employee Benefits, Retirement Plans
The IRS recently issued guidance on the tax treatment, withholding and reporting for required distributions from tax-qualified retirement plans. Plan sponsors should contact their retirement vendors and trustees to ensure that they implement the tax requirements of the new guidance appropriately for their tax-qualified retirement plans. Access the full article.
Continue Reading
IRS Opens the Door to Lump Sum Payment Windows for Retirees in Pay Status
By Jeffrey Holdvogt, J. Christian Nemeth and Rick Stepanovic on May 2, 2019
Posted In Employee Benefits, Retirement Plans
Due to an Internal Revenue Service (IRS) change in course published in Notice 2019-18, plan sponsors may now offer retirees lump-sum windows as another pension “de-risking” option. Plan sponsors considering pension de-risking opportunities and options should carefully evaluate the potential benefits and risks of a retiree lump-sum window. Access the full article.
Continue Reading
Paving the Way for More HRAs
By Rick Stepanovic, Megan Mardy, Judith Wethall, Jacob Mattinson, Erin Turley and Emily Rickard on Nov 1, 2018
Posted In Employee Benefits, Health and Welfare Plans
President Trump signed an executive order last year directing the Secretaries of Labor, Treasury and Health and Human Services to consider proposing regulations to “increase the usability of HRAs.” This month, the collective departments issued proposed regulations containing changes to the prohibition on pairing HRAs with individual health policies, as well as other changes to...
Continue Reading
Fridays With Benefits Webinar | Should Old Acquaintance Be Forgot? Our Retrospective on 2018 Benefits Issues
By Judith Wethall, Lisa Loesel and Rick Stepanovic on Oct 30, 2018
Posted In Employee Benefits, Retirement Plans
Join us Friday, November 2 for our monthly Fridays with Benefits webinar. With 2019 right around the corner, now is the time to dust off your year-end checklist and take stock of changes we have seen in 2018, and how they project to impact planning for the new year. Join us for an interactive discussion...
Continue Reading
All Together Now: DOL Finalizes Rule for Association Health Plans
By Rick Stepanovic, Megan Mardy, Judith Wethall and Jacob Mattinson on Jun 26, 2018
Posted In Employee Benefits, Health and Welfare Plans
The US Department of Labor published a final rule that makes it easier for a group or association of employers to act as a single “employer” sponsor of an Association Health Plan under ERISA. By creating an opportunity for small employers and self-employed individuals to take advantage of the economies of scale that are usually...
Continue Reading
