Beginning January 1, 2024, employers will be required to allow Long-term, part-time (LTPT) employees to make deferral contributions to qualified retirement plans that contain cash or deferred arrangements. Deferrals for LTPT...more
After months of suspense and intrigue on whether SECURE 2.0 would make it to the finish line and become law, the U.S. Congress ended the suspense by attaching SECURE 2.0 to the Consolidated Appropriations Act, 2023 funding...more
Beginning September 1, 2019, employers that sponsor cash balance plans and certain merged plans can sleep easier. Revenue Procedure 2019-20, issued by the Internal Revenue Service (IRS) on May 1, 2019, opens the IRS’s...more
7/1/2019
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Corporate Counsel ,
Determination Letter ,
Employee Benefits ,
Filing Deadlines ,
Hybrid Plan ,
IRS ,
Merged Plan ,
Plan Documents ,
Retirement Plan ,
Revenue Procedures
In acknowledgment of the recent sexual misconduct allegations and the confidential settlements in connection with those allegations, Congress added a new section 162(q) to the Internal Revenue Code as part of the Tax Cuts and...more