The IRS recently issued Notice 2024-73, which provides much-needed guidance on long-term, part-time (“LTPT”) employees in ERISA-governed 403(b) retirement plans. Following passage of the SECURE 2.0 Act, an employee is...more
10/16/2024
/ 401k ,
403(b) Plans ,
Compensation & Benefits ,
Effective Date ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
IRS ,
New Guidance ,
Part-Time Employees ,
Proposed Regulation ,
Retirement Plan ,
SECURE Act ,
Time Extensions
Plan sponsors of individually designed 403(b) plans will soon be able to submit determination letter applications to the IRS. (Individually designed plans are plans using custom documents that have not been preapproved...more
The IRS has extended additional deadlines for required retirement plan amendments, similar to the extensions we discussed last month found here. Notice 2022-45 extends the deadline for amending qualified retirement plans to...more
9/30/2022
/ 403(b) Plans ,
457(b) Plans ,
Benefit Plan Sponsors ,
CARES Act ,
Employee Benefits ,
Filing Deadlines ,
IRS ,
Pension Plan Amendments ,
Qualified Retirement Plans ,
Retirement Plan ,
SECURE Act ,
Time Extensions
The IRS has extended additional deadlines for required retirement plan amendments, similar to the extensions we discussed last month found here. Notice 2022-45 extends the deadline for amending qualified retirement plans to...more
9/30/2022
/ 403(b) Plans ,
457(b) Plans ,
Benefit Plan Sponsors ,
CARES Act ,
Employee Benefits ,
Filing Deadlines ,
IRS ,
Pension Plan Amendments ,
Qualified Retirement Plans ,
Retirement Plan ,
SECURE Act ,
Time Extensions