Ohio Bill Legislation Creates Defined Benefit Plans
The Ohio House of Representatives crafted a defined benefit plan for workers of private sector employers. It is the first state proposal using a DB plan instead of a defined contribution plan. Introduced on May…
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New Jersey Enters Stage 2 of Reopening Process
The Garden State is officially diving into Phase Two of its reopening plan, “The Road Back: Restoring Economic Health Through Public Health,” with Governor Phil Murphy presenting new guidelines for the recovery procedure. Per NJ.Gov,…
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New York Temporarily Allows Notaries Use Audio-Video Technology
Amid the current pandemic, states are modifying their rules to better adjust to the temporary work-from-home standard. Per an order dated May 28, 2020, the utilization of audio-visual technology for notarization and witnessing is allowed…
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New York City Restarts Construction During Phase One Reopening
Following a three-month delay, New York City construction sites are scrambling to resume operations and complete their projects. Manufacturing, wholesalers, “non-essential” retailers and construction workers can revive Hundreds of thousands of workers will be returning…
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Long Island Courts Begin Phased-in Opening Process
On Tuesday, May 26, courts across Long Island resumed operations for the first time since the COVID-19 shutdown. Starting on Wednesday, May 27th, counties like Dutchess, Putnam, Rockland, Orange, and Westchester enacted a gradual phased-in…
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DOL Approves Private Equity in TDFs
The Department of Labor has given the green light to private equity investments in professionally handled funds within 401(k)s. In a detailed Information Letter, the head of Division of Fiduciary Interpretations at the Employee Benefit…
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3 Highly-Effective Estate Planning Strategies
Adversity, particularly during a pandemic, is unfortunately commonplace in life. Hence, taking care of your family in the unfortunate event something unexpected happens to you must be translated in a carefully, well-laid out strategy. To…
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IRS Signs Off on Temporary Remote Signature Relief
The Internal Revenue Service has offered brief administrative relief to assist specific retirement beneficiaries or plan participants eager to make participant elections by permitting flexibility for remote signatures. Published on June 3, Notice 2020-42 gives…
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COVID-19 Places Significant Importance on Estate Planning
As the coronavirus pandemic reshapes our world, we have to correctly prepare for the future and its uncertainty. This includes placing estate planning at the top of your priority list. In the midst of this…
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