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Attorneys
Mary is nationally recognized as a retirement plan expert, having worked with small and large companies in designing and administration of retirement programs. Her practice includes all types of employee benefit plans, including executive compensation programs. She serves as an adjunct professor at Hamline University School of Law teaching "Pensions and Employee Benefits." Bar Admissions Minnesota, 2008 Professional Associations & Memberships International Society of Certified Employee Benefit Specialist, 1985-present Midwest Pension Conference, 1988-present Minneapolis Pension Council, 2000-present Board of Directors, Children's Home Society & Family Services, 1998-present Education Hamline University School of Law, St. Paul, MN, 2008 J.D. University of Virginia, Charlottesville, VA, 1975 M.A. University of Chicago, Chicago, IL, 1972 A.B. Certifications Certified Employee Benefit Specialist (CEBS) Experience ESOP Evaluation Worked with a company that was assessing whether to establish an Employee Stock Ownership Plan or not. Evaluated the legal and financial impacts as well as the employee communication challenges. 401(k) Plan Design Developed a new 401(k) plan package for a financial firm to offer to its clients. Wrote employee communication material as well as designed and delivered the training program for the staff. 401(k) Plan Error Worked with a company to identify and correct plan administrative errors in the 401(k) plan. Established new procedures to avoid future errors. Personal Trust Provided an assessment of the competitive need, the legal requirements, and the internal systems requirement for a financial firm to implement a new personal trust offering. Defined Benefit Plan Assisted a multiple-employer plan to evaluate the impact of freezing the DB plan; worked with them to communicate the decision to the boards of directors and the employees; and then helped the different employers design alternative retirement plans for employees.
Service Areas
Employment, Labor and Benefits |
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Worker Classification Settlement Program
On September 21, 2011, the IRS issued a new “Voluntary Classification Settlement Program” that will allow the employer to present their situation to the IRS for a determination of the proper classification of these workers.
Nondiscrimination in Health Plans
One of the elements of the Health Care Reform was to require that employer health plans not be discriminatory in favor of the highly compensated employers. (Grandfathered plans were exempt from this requirement.) The IRS has delayed the effective date of this requirement until further guidance has been issued.
Small Business Health Tax Credit
Learn more about a new tax credit for small employers who provide insurance to their employees.
Young Adults & Dependent Health Coverage
Learn more about how recent health care legislation has affected coverage for young adults and dependents.
Cobra Subsidy Extension
Learn more about the recent COBRA subsidy extension.
Health Care Reform – What Employers Need to Know Now
Learn more about how new federal health care reform will affect employers.
COBRA Subsidy Extended
A COBRA subsidy extension was recently signed into law, read about it here.
New 401(k) Contribution Deposit Rule
Learn more about the Department of Labor's new guidelines governing employee contributions and participant loan repayment.
COBRA Subsidy Extended
The 65 percent federal subsidy of COBRA premiums for individuals who have been involuntarily terminated from employment has been extended both in length of the subsidy period and the eligibility period.
Roth IRA Conversion
In 2010, anyone with a traditional IRA, including a rollover IRA, will have the opportunity to convert that IRA into a Roth IRA regardless of income. Previously, only individuals with a modified gross income of greater than $100,000 were unable to do a Roth conversion. Effective in 2010, that restriction is removed and all individuals are able to convert an existing traditional IRA into a Roth IRA.
End of the Year Retirement Plan Issues
Every year there are some “housekeeping items” that need the attention of retirement plan sponsors and 2009 is no exception. However, this year there are some additional items beyond the standard participant communication notices that need to be addressed.
Defined Benefit Funding
The IRS has issued final regulations governing the funding requirements for single and multiple employer Defined Benefit plans that are effective for plan years beginning on or after January 1, 2010.
2010 Plan Limits
The IRS has issued the 2010 limits for various employee benefits. The retirement plan limits have not changed, although there are some changes for health plan benefit limits.
On Health Care Reform
Mary Komornicka discusses three things small businesses and corporations are watching closely in the ongoing health care reform debate in Minnesota Business.
Analysis of La Rue v. DeWolff: How The Supreme Court Reached Its Decision and What It Means For Plan Sponsors
Mary Komornicka's article was selected for publication in the Journal of Pension Planning and Compliance.
Komornicka Presents Webcasts on 401(k) Plans
In a series of three 60-minute Webcasts, Mary Komornicka will provide insight into 401(k) for plan administrators.
Komornicka Presents at Midwest Pension Conference
Mary Komornicka will discuss two U.S. Supreme Court decisions that may have a major influence on employee benefit plans.
Komornicka Speaks at National Conference regarding Multiemployer Benefit Plans
Mary Komornicka will present a case study of 15 nonprofit agencies that participated in a multiemployer benefit plan at the Annual Symposium of the International Society of Certified Employee Benefit Specialists.
Mary Komornicka to Speak at ISCEBS National Convention
Mary Komornicka will speak at the ISCEBS National Convention October 3rd in San Antonio Texas. She will be discussing the "Top Ten Recent Retirement Plan Regulations" including the ten most important new regulations, how the regulations impact day-to-day administration and actions that need to be taken as a result of these new regulations. For more information, click here.
American Association of Accountable Care Organizations (AAACO) Webinar: Understanding Regulations of ACOs
Larkin Hoffman attorney Todd Freeman spoke at the AAACO Webinar “Understanding Regulations of ACOs” on July 14, 2011.
Correcting Retirement Plan Errors
Mary L. Komornicka will present "Correcting Retirement Plan Errors" at the International Society of Certified Employee Benefit Specialists on Wednesday, March 30th, 2011. The presentation will be a practical session providing a close look at the IRS Employee Compliance Resolution System (EPCRS) and how it applies to some real-life errors.
To learn more about this event and to register, click here.
Komornicka Presents Webcast on Important Changes in Retirement Plan Regulations
Mary Komornicka presented a webcast entitled "Need to Know Updates About Recent Retirement Regulations" in coordination with the International Foundation on Dec. 8, 2010. For more information, click here.
OOPS - Employee Communications and Small Errors
The OOPS factor in a 401(k) plan happens to everyone. You may have acquired a plan through a merger and found out the payroll deductions do not match the plan contributions. Perhaps you forgot to offer the 401(k) plan to a few employees (i.e., part-time who changed to fulltime). Oh no - you forgot to email/mail important plan notices, the "alphabet soup" ones like QDIA, EACA, QACA, SPD, SAR. Now what?
401(k) - Investment and Fees
SHRM just sent out an email on Retirement Plan Fee Disclosures. Do you really understand the interim final rules that will enhance disclosure to fiduciaries of 401(k) and other retirement plans? Do you know how to determine the reasonableness of compensation paid to plan service providers? What about investments? Does your company have an investment policy that is monitored? Is your plan 404(c) compliant? Are you sure? Why should you care?
401(k) Basics - As Easy as ABC
Do you ever wonder what the difference is between the plan document, the adoption agreement, and the service agreement? Do you question all the hype about auto enrollment? Have you ever failed discrimination testing? Who is your plan administrator? Are you the Trustee? What is a determination letter?
Komornicka Presents at ISCEBS Employment Benefits Symposium
Mary Komornicka is scheduled to present at the 29th Annual International Society of Certified Employee Benefits Specialists Symposium on Oct. 3-6, 2010 in Charlotte, North Carolina.
Komornicka Speaks at ISCEBS Luncheon
Mary Komornicka will share recommendations for establishing an annual oversight framework and assessing new vendors at the January Monthly Educational Luncheon sponsored by the Twin Cities Chapter of the International Society of Certified Employee Benefit Specialists (ISCEBS).
Komornicka Presents on Fiduciary Protection under 404(c) at the Midwest Pension Conference
Mary Komornicka presents "Fiduciary Protection under 404(c) - Illusion or Reality" at the 25th Annual Midwest Pension Conference in Minnesota.
Komornicka Presents on Recent Retirement Plan Regulations
Mary Komornicka presented at the 28th Annual International Society of Certified Employee Benefits Specialists (ISCEBS) Symposium in Las Vegas on Aug. 11, 2009.
Komornicka to co-present “What to Expect and Require from 401(k) Recordkeepers
Mary L. Komornicka will be presenting "What to Expect -- and Require -- From 401(k) Recordkeepers," a webcast hosted by the International Foundation of Employee Benefit Plans.
Komornicka and Korstad to Present COBRA Subsidy Seminar
Mary L. Komornicka and Gregory E. Korstad will present on the American Recovery and Reinvestment Act of 2009 provision providing a subsidy relating to COBRA health insurance at the TwinWest Chamber of Commerce meeting on March 20, 2009.
