Stephen Pavlick
Subscribe to Stephen Pavlick's PostsStephen Pavlick focuses his practice on employee benefits matters for multinational corporations. He concentrates on qualified plans, related fiduciary and other Employee Retirement Income Security Act (ERISA) issues, deferred compensation and equity arrangements, and funding strategies for post-retirement welfare benefits. He has worked extensively with cash balance plans. Read Stephen Pavlick's full bio.
IRS Announces Major Changes to Its Determination Letter Program for Individually Designed Retirement Plans
By Alan D. Nesburg, PC and Stephen Pavlick on Aug 4, 2015
Posted In Benefit Controversies, Labor, Retirement Plans
On July 21, 2015, the Internal Revenue Service (IRS) issued Announcement 2015-19 (the Announcement), which ends the five-year remedial amendment cycles for individually designed plans effective January 1, 2017. For remedial amendment cycles beginning after 2016, plan sponsors will no longer be able to apply for determination letters on their individually designed defined contribution and...
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White House Budget Proposal Includes Many Retirement-Related Provisions
By Stephen Pavlick on Mar 5, 2015
Posted In Employee Stock Ownership Plans (ESOPs), Retirement Plans
On February 2, 2015, the White House released its Fiscal Year 2016 Budget, which includes a number of tax reforms targeting retirement savings. The provisions, if enacted as presented, would have a significant effect on current retirement-related tax incentives. Read the full article.
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IRS Releases Highly Anticipated Cash Balance Plan Regulations
By Stephen Pavlick on Nov 21, 2014
Posted In Retirement Plans
Recently issued regulations provide long-awaited guidance to sponsors of hybrid retirement plans on a variety of issues, including the market rate of return requirement and required changes for plans using crediting rates that do not meet this requirement. In a change from earlier regulations, hybrid plans are now allowed to offer subsidized survivor and early...
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IRS Announces Employee Benefit Plan Limits for 2015
By Jacob Mattinson and Stephen Pavlick on Oct 28, 2014
Posted In Employee Stock Ownership Plans (ESOPs), Health and Welfare Plans, Retirement Plans
The Internal Revenue Service (IRS) recently announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans for 2015. Although many dollar limits currently in effect for 2014 will change, some limits will remain unchanged for 2015. Read the full article.
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New Money Market Fund Rules Require Review by Retirement Plan Sponsors
By Maggie McTigue and Stephen Pavlick on Oct 9, 2014
Posted In Retirement Plans
The U.S. Securities and Exchange Commission recently amended the rules governing money market funds in an effort to increase the stability and liquidity of these funds in times of economic stress. Sponsors of retirement plans should consider how their use of money market funds should be changed in light of these revised rules. Read the...
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Supreme Court Rejects “Presumption of Prudence,” Adopts New Pleading Standards in Fifth Third Bancorp v. Dudenhoeffer
By Wilber H. Boies, PC, Chris C. Scheithauer and Stephen Pavlick on Jul 15, 2014
Posted In Employee Stock Ownership Plans (ESOPs), Retirement Plans
In a highly anticipated decision, the Supreme Court recently ruled that ESOP fiduciaries are not entitled to a presumption of prudence under ERISA in connection with their decisions to buy, hold or sell the employer’s securities. While the elimination of this presumption is a loss for ESOP fiduciaries, the decision imposes additional burdens on plaintiffs...
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Sixth Circuit to Revisit Unprecedented Expansion of ERISA Wrongful Denial of Benefits Remedies
By Michael T. Graham and Stephen Pavlick on Mar 6, 2014
Posted In Retirement Plans
On December 6, 2013, in Rochow v. Life Insurance Company of North America, 737 F.3d 415 (6th Cir. 2013), the Sixth Circuit affirmed a district court ruling that an insurance company that improperly denied ERISA disability benefits must not only pay the benefits sought, but also disgorge its profits earned on those benefits. In that...
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IRS Expands Guidance on In-Plan Roth Conversions
By Joseph K. Urwitz and Stephen Pavlick on Feb 5, 2014
Posted In Employment, Retirement Plans
Recent IRS guidance clarifies a number of outstanding questions regarding “in-plan conversions” of non-Roth balances to Roth balances in 401(k), 403(b) and governmental 457(b) plans. In particular, the guidance confirms that converted balances are subject to the same distribution restrictions after the conversion as they were prior to it. Click here to read the full...
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