Happy 10th Birthday, EforERISA
December 16, 2020 marks the 10th anniversary of our first post on this blog and this week EforERISA is debuting a fresh new look and redesign courtesy of Ashli Smith and her team at Spotted Monkey Marketing. We are always looking for ways to make this site better and more impactful so your constructive criticism and comments on the redesign are welcome. We also welcome suggestions on topics to cover in our future posts. 2021 promises to be a busy year on the benefits front, with a new administration in gear and light…
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Emergency Savings Accounts: Top 5 Things to Know
As a wise, NYU Stern School of Business Professor named Scott Galloway once said, “[t]he most powerful forward-looking indicator of your financial freedom is not how much you earn, but how much you save.” But saving, like weight loss, is difficult. Everyone knows how it works, but very few succeed at it consistently over the long term. Employers are increasingly leveraging their role as paymaster to help employees save, before they have a chance to spend, with after-tax emergency savings accounts (ESAs). In an ESA, employees defer a portion of their pay…
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In Rehire Mode? Keep March 31, 2021 in Mind for Your 401(k) Plan
If your business is one of the many that reduced employees in the early days of the COVID-19 pandemic, you need to keep March 31, 2021 marked on your calendar, particularly if you are fortunate enough to be ramping up activity and adding workers back to your payroll. As explained in our earlier post, when employer action, including as the result of an economic downturn, results in 20% or more of the population of an employee retirement plan being terminated from employment, a presumption arises that a “partial plan termination” has occurred, with…
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“I am a benefits (ERISA) attorney. I help businesses prevent, and fix, problems with their employee benefit plans in order to preserve the tax-qualified status of those plans, and ultimately the saleability of their businesses.”
-Christine P. Roberts
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Contact
Christine P. Roberts
Mullen & Henzell L.L.P.
phone: (805) 966-1501
email: croberts@mullenlaw.com
