The Budget Act Makes Some Surprising Changes to Benefit Plans

By Jacob Mattinson, McDermott Will & Emery and Sarah L. Engle on March 6, 2018

Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Retirement Plans

On February 9, 2018, President Trump signed a bipartisan budget deal into law, effectively extending federal funding through March 23, 2018. The act includes multiple provisions affecting employee benefit plans, including relaxed hardship withdrawal rules and relief for individuals affected by the California wildfires.

Tags: 401(k), Bipartisan Budget Act of 2018, Budget Act, California wildfires, disaster relief, employer-sponsored retirement plans, government shutdown, Multiemployer Pension Plans, Pension Benefit Guaranty Corporation, plan sponsor, President Trump, QMACs, QNECs, qualified matching contributions, qualified non-elective contributions, retirement plan

Jacob Mattinson
Jacob M. Mattinson focuses his practice on employee benefits and matters related to 401(k), 403(b), pension, executive compensation, health care reform, and cafeteria and welfare plans. Jacob assists clients in drafting employee benefit plan documents and amendments. He represents clients in matters before the Internal Revenue Service (IRS), US Department of Labor (DOL) and Pension Benefit Guaranty Corporation with respect to plain qualification issues. Read Jacob Mattinson's full bio.

McDermott Will & Emery

Sarah L. Engle
Sarah 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.

The Budget Act Makes Some Surprising Changes to Benefit Plans

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