With 2024 drawing to a close, employers should review any actions needed before year-end with respect to their benefit plans, as well as some upcoming deadlines that may require advance planning. As the adage attributed to...more
11/21/2024
/ Automatic Enrollment ,
Benefit Plan Sponsors ,
Cybersecurity ,
Department of Health and Human Services (HHS) ,
Eligibility Determination ,
Employee Benefits ,
Employer Liability Issues ,
Extensions ,
Forfeiture ,
Health and Welfare Plans ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Health Plan Sponsors ,
MHPAEA ,
NQTLs ,
Part-Time Employees ,
Qualified Retirement Plans ,
Required Minimum Distributions ,
Roth IRA ,
SECURE Act ,
Telehealth
President Biden signed the Consolidated Appropriations Act, 2023, on December 29, 2022, which includes the package of retirement plan legislation known as “SECURE 2.0.” SECURE 2.0 contains numerous significant changes for...more
The IRS has extended the deadline for plan sponsors of qualified retirement plans and IRAs to make amendments under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Taxpayer Certainty and...more
9/27/2022
/ 403(b) Plans ,
457(b) Plans ,
Benefit Plan Sponsors ,
CARES Act ,
Individual Retirement Account (IRA) ,
IRS ,
New Guidance ,
Plan Documents ,
Qualified Retirement Plans ,
Relief Measures ,
Required Minimum Distributions ,
Retirement Plan ,
SECURE Act ,
Time Extensions
In recent weeks, the IRS has issued two updates to its Employee Plans Compliance Resolution System (EPCRS). EPCRS allows plan sponsors to correct many documentary and operational errors that otherwise might jeopardize a...more
On September 18, the Internal Revenue Service (IRS) issued Notice 2014-54, which clarifies that, subject to some limitations, a single distribution of pre-tax and after-tax amounts from a qualified retirement plan, a 403(b)...more
On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by...more