The Internal Revenue Service (IRS) issued proposed regulations providing guidance on how to interpret and implement changes to "catch-up" contributions made by the SECURE 2.0 Act of 2022 (SECURE 2.0). The regulations mainly...more
2/20/2025
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403(b) Plans ,
457(b) Plans ,
Employee Benefits ,
Internal Revenue Code (IRC) ,
IRS ,
Proposed Regulation ,
Retirement Plan ,
SECURE Act ,
Tax Planning ,
Tax Reform
The IRS recently issued a set of Frequently Asked Questions in Fact Sheet 2024-19, which address the special rules for distributions and plan loans for certain individuals impacted by major federally declared disasters under...more
The US Internal Revenue Service (IRS) released a notice providing guidance on various provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0). Some of the topics touched on in the guidance include automatic enrollment, the...more
To the great relief of many plan sponsors, administrators, recordkeepers, and payroll vendors, the IRS issued highly anticipated relief regarding the mandatory "Rothification" of catch-up contributions....more
The Internal Revenue Service (IRS) expanded its individually designed determination letter program to include 403(b) retirement plans in November 2022, before which time 403(b) plan sponsors did not have the ability to file...more
The SECURE 2.0 Act of 2022 makes far-ranging changes to the US employer-retirement plan system. This LawFlash—one in a series—more closely examines the act’s provisions that expand and encourage retirement plan participation....more