The IRS has announced the 2026 cost-of-living adjustments to the applicable dollar limits for health savings accounts (HSAs), high-deductible health plans (HDHPs), and excepted benefit health reimbursement arrangements...more
5/9/2025
/ Affordable Care Act ,
Compensation & Benefits ,
Cost-of-Living Adjustment (COLA) ,
Employee Benefits ,
HDHP ,
Health Insurance ,
Healthcare ,
HRA ,
HSA ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
Revenue Procedures ,
Taxation
Many employer-sponsored defined contributions plans, including 401(k) profit sharing plans and money purchase pension plans include a vesting schedule – a period over which a plan participant earns a nonforfeitable right to...more
2/3/2025
/ 401k ,
Benefit Plan Sponsors ,
Breach of Duty ,
Compensation & Benefits ,
Corporate Counsel ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Contributions ,
Employment Litigation ,
ERISA Litigation ,
Fiduciary Duty ,
Financial Services Industry ,
Pensions ,
Plan Administrators ,
Profit Sharing ,
Prohibited Transactions ,
Retirement Plan
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2025. Many...more
11/25/2024
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Compensation & Benefits ,
Cost-of-Living Adjustment (COLA) ,
Employee Benefits ,
Internal Revenue Code (IRC) ,
IRS ,
Retirement Plan ,
Social Security Administration (SSA) ,
Social Security Benefits
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2024. Many...more
2/12/2024
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Compensation & Benefits ,
Contribution Limits ,
Cost-of-Living Adjustment (COLA) ,
Employee Benefits ,
Internal Revenue Code (IRC) ,
IRS ,
Retirement Plan ,
Tax Planning
Most employers allow employees covered by the employer-sponsored group health and welfare plans to pay their share of the cost through pre-tax payroll deductions. In order to do this the employer must maintain a written...more
11/22/2022
/ Cafeteria Plans ,
Compensation & Benefits ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Deadlines ,
Employee Benefits ,
Flexible Spending Accounts ,
Health and Welfare Plans ,
Infectious Diseases ,
IRS ,
Relief Measures ,
Tax Liability ,
Tax Planning
Retirement plans and individual retirement accounts (IRAs) are subject to required minimum distribution rules under Internal Revenue Codes Section 401(a)(9). The SECURE Act amended the required minimum distribution rules...more
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2022. Many...more
4/14/2022
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Compensation & Benefits ,
Cost-of-Living Adjustment (COLA) ,
Defined Benefit Plans ,
Defined Contribution Plans ,
Employee Benefits ,
Highly Compensated Employees ,
IRS ,
New Guidance ,
Regulatory Standards ,
Retirement Plan ,
Social Security Administration (SSA) ,
Social Security Income
Over the past several years, many employers have adopted a safe harbor contribution feature for their 401(k) retirement plan. Employers anticipating or experiencing financial stress triggered by the COVID-19 related business...more
New legislation impacting retirement plans and their participants was signed into law by President Trump on December 20, 2019. The Setting Every Community Up for Retirement Enhancement Act (the “SECURE Act”) is one of the...more
2/3/2020
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Beneficiary Designations ,
Benefit Plan Sponsors ,
Compensation & Benefits ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Individual Retirement Account (IRA) ,
New Legislation ,
Regulatory Reform ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Tax Planning ,
Tax Rates
- Create a Plan Document...
- Do not rely solely on special acts, ordinances, or collective bargaining agreements...
- Reflect collectively bargained provisions...
- Update contemporaneously to reflect changes in...more
12/4/2019
/ Best Practices ,
Claim Procedures ,
Collective Bargaining Agreements (CBA) ,
Compensation & Benefits ,
Employee Benefits ,
Municipalities ,
Pensions ,
Plan Documents ,
Public Employees ,
Public Employers ,
Retirement Plan ,
State and Local Government