IRS Provides COVID-19 Related Relief for Mid-Year Reductions on Safe Harbor Contributions to 401(k) Plans

On June 29, 2020, the IRS issued guidance that gives some relief to plan sponsors that amend their safe harbor Section 401(k) or 401(m) plans mid-year to reduce employer safe harbor matching/nonelective contributions due to the COVID-19 pandemic. The IRS notice can be found here.

Nick Bullard

Nick Bullard

Nick is a trial associate in Dorsey’s office in Minneapolis. His practice focuses on complex and high-stakes commercial litigation at the trial and appellate levels. He has particular expertise in defending clients in ERISA class actions involving both retirement and health and welfare plans. In his ERISA practice, Nick has represented some of the largest companies in the world in industries ranging from banking to healthcare.

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