Jeffrey Holdvogt
Subscribe to Jeffrey Holdvogt's PostsJeffrey (Jeff) M. Holdvogt regularly counsels public and privately held companies and tax-exempt organizations on a wide range of employee benefits matters. These include the design and administration of complex pension, 401(k) and 403(b) plans, nonqualified and executive deferred compensation arrangements, fiduciary and plan investment issues under the Employee Retirement Income Security Act (ERISA), internal compliance reviews and voluntary correction filings, and benefit plan matters arising from mergers and acquisitions, as well as other ongoing day-to-day retirement and executive compensation issues. Read Jeff Holdvogt's full bio.
Tax Reform Results in Only Minor Changes for Retirement Plans
By Jeffrey Holdvogt and Sarah L. Engle on Jan 4, 2018
Posted In Employee Benefits, Retirement Plans
The Tax Cuts and Jobs Act made significant changes to the tax code and will have a significant impact on businesses and individual taxpayers. However, although initial proposals included potentially significant changes to employer-sponsored retirement plans, the impact of the final bill on employer sponsored retirement plans will be relatively minor. Continue Reading.
Continue Reading
Update: IRS Announces Employee Benefit Plan Limits for 2018
By Brian Tiemann, Jeffrey Holdvogt and Jacob Mattinson on Dec 6, 2017
Posted In Employee Benefits, Health and Welfare Plans, Retirement Plans
On Monday, November 27, 2017, the Social Security Administration announced (announcement here) that the it is lowering the maximum amount of earnings subject to the Social Security tax for 2018 to $128,400. The Social Security Administration had previously announced the amount as $128,700. The revision is the result of updated wage data reported to Social...
Continue Reading
Treasury Issues New Guidelines on Searching for Missing Retirement Plan Participants
By McDermott Will & Emery and Jeffrey Holdvogt on Nov 28, 2017
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Retirement Plans
The US Department of the Treasury recently issued guidance that retirement plan sponsors should consider as part of their obligation to take reasonable steps to locate missing participants. Specifically, the Treasury issued a memorandum which sets forth guidelines that prohibit auditors from challenging qualified plans as failing to satisfy the required minimum distribution standards under Internal Revenue...
Continue Reading
IRS Issues Updated Mortality Tables for 2018 – Impact on Pension Plan Sponsors
By Jeffrey Holdvogt and McDermott Will & Emery on Oct 24, 2017
Posted In Employee Benefits, Employment, Retirement Plans
The IRS recently issued new mortality tables for 2018, which will likely increase pension funding liabilities for many plan sponsors. Plan sponsors should consider options to delay the use of the new mortality tables for funding purposes, while large plan sponsors should consider the option to utilize plan-specific mortality tables instead. Continue reading.
Continue Reading
IRS Announces Employee Benefit Plan Limits for 2018
By Brian Tiemann, Jeffrey Holdvogt and Jacob Mattinson on Oct 20, 2017
Posted In Employee Benefits, Health and Welfare Plans, Retirement Plans
The Internal Revenue Service (IRS) recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2018. Although some of the dollar limits currently in effect for 2017 will remain the same, the majority of the limits will experience minor increases for 2018. Continue reading.
Continue Reading
McDermott Announces Determination Letter Replacement Program, Addressing the Gap in Retirement Plan Compliance
By Brian Tiemann, Diane Morgenthaler, Jeffrey Holdvogt, Jacob Mattinson, Joseph K. Urwitz, Kay Kemp, Lisa Loesel, Maggie McTigue , Mary K. Samsa, Sarah L. Engle, Allison Wilkerson, Alan D. Nesburg, PC, Andrew Liazos, McDermott Will & Emery and Todd Solomon on Oct 10, 2017
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues, Retirement Plans
Since the announcement by the Internal Revenue Service (IRS) that sponsors of individually designed retirement plans may no longer receive a periodic determination letter, plan sponsors have faced uncertainty about how to demonstrate compliance for their retirement plans. Our McDermott Retirement Plan Compliance Program, a new opinion letter and operational review program for individually designed...
Continue Reading
Staying Out of Trouble: How to Avoid IRS and DOL Audits
By Jeffrey Holdvogt and Maggie McTigue on Sep 14, 2017
Posted In Employee Benefits, Health and Welfare Plans, Retirement Plans
The Internal Revenue Service (IRS) and the Department of Labor (DOL) conduct different types of benefit plan audits, such as retirement plans and health and welfare plans, and for various reasons. In a presentation, Jeffrey Holdvogt and Maggie McTigue discuss IRS and DOL audit triggers, the process for each and what to do if your...
Continue Reading
Puerto Rico Legislation May Require Changes to Retirement Plans
By Jeffrey Holdvogt and Maggie McTigue on Apr 20, 2017
Posted In Employee Benefits, Retirement Plans
Puerto Rico enacted new legislation in February that will require changes to tax-qualified retirement plans covering Puerto Rico employees, including both Puerto Rico-only and dual-qualified (US and Puerto Rico) retirement plans. Act No. 9-2017 revises a number of Puerto Rico qualified retirement plan rules including contribution limits, rules related to nondiscrimination testing and employer deductions...
Continue Reading
View From McDermott: Employee Benefit Plan Considerations for Health Systems in 2017
By Jeffrey Holdvogt and Mary K. Samsa on Apr 4, 2017
Posted In Employee Benefits, Health and Welfare Plans
Amy Gordon, Jeffrey Holdvogt, Susan Nash and Mary Samsa wrote this bylined article on health system employee benefit opportunities and challenges in 2017. The authors urged health systems to review internal controls for 403(b) plan compliance and new design opportunities for 457(f) plans, to review their short- and long-term health plan operation in light of...
Continue Reading
Proposed Regulations Update Mortality Tables, Minimum Present Value Requirements for Defined Pension Plans
By Jeffrey Holdvogt on Mar 14, 2017
Posted In Employee Benefits, Retirement Plans
Near the end of 2016, the Department of Treasury (Treasury) and the Internal Revenue Service (IRS) published two significant sets of proposed regulations on issues pertaining to defined benefit pension plans, including mortality table updates that likely would increase pension funding liabilities for many plan sponsors. Read the full article.
Continue Reading
