On January 10, 2025, the Department of the Treasury and the Internal Revenue Service issued proposed regulations related to two new catch-up contribution provisions under the SECURE 2.0 Act of 2022 (SECURE 2.0): (1) the...more
1/23/2025
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Benefit Plan Sponsors ,
Employee Benefits ,
Internal Revenue Code (IRC) ,
IRS ,
Proposed Rules ,
Retirement Plan ,
SECURE Act ,
Tax Planning ,
Tax Reform ,
U.S. Treasury
Since 1996, the US Department of Labor granted more than 1,200 individual exemptions from the ERISA prohibited transaction rules.
One of the distinctive features of ERISA is its prohibition, in ERISA section 406 as a...more
1/5/2022
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403(b) Plans ,
Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Exemptions ,
Fiduciary Duty ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
Prohibited Transactions ,
Reinsurance ,
Related Parties
On June 21, the Treasury Department and the Internal Revenue Service (IRS) issued proposed Internal Revenue Code (Code) section 409A regulations, modifying existing proposed and final section 409A regulations regarding...more
In Rev. Rul. 2014-24, scheduled for publication on September 8, 2014, the Internal Revenue Service (the Service) substantially completed its pending guidance on Rev. Rul. 81-100 group trusts by permanently authorizing the...more
The practice of offering lump-sum distributions has become increasingly popular among defined benefit plan sponsors looking to decrease volatility or other defined benefit plan risks. In some situations, plan sponsors offer...more