The Internal Revenue Service released the cost-of-living adjusted qualified retirement plan and welfare plan limitations effective January 1, 2025. For ease of reference and comparison to prior years, we have placed the...more
11/18/2024
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Contribution Limits ,
Cost-of-Living Adjustment (COLA) ,
Defined Benefit Plans ,
Employee Benefits ,
ESOP ,
Flexible Spending Accounts ,
Health Savings Accounts ,
Individual Retirement Account (IRA) ,
IRS ,
Qualified Retirement Plans ,
Retirement Plan
There has never been a better time for plan sponsors to prioritize reviewing and self-correcting eligible plan failures. SECURE 2.0, attached to the 2022 year-end Consolidated Appropriations Act, expands retirement savings...more
Dear Plan Sponsor -
Have you received a letter from the IRS with respect to your retirement plan? If so (or if not, but you want to be prepared in the event you do receive “the letter”), read on....more
In the second quarter of 2020, we have seen employers faced with continued challenges as they manage the impact of the COVID-19 pandemic on their businesses and begin the process of returning to normal operations. The flurry...more
7/23/2020
/ Benefit Plan Sponsors ,
CARES Act ,
Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
Employee Benefits ,
Guidance Update ,
IRS ,
PBGC ,
Regulatory Oversight ,
Regulatory Standards ,
Required Minimum Distributions ,
Retirement Plan ,
Safe Harbors
As the Coronavirus has continued to spread, there has been guidance from various entities on a myriad of topics pertaining to employee benefits. Summaries and links to such guidance can be found below. This information will...more
3/18/2020
/ Coronavirus/COVID-19 ,
Dependent Care ,
Dependent Care Assistance Program (DCAP) ,
Emergency Response ,
Employee Benefits ,
Equal Employment Opportunity Commission (EEOC) ,
Essential Health Benefits ,
Family and Medical Leave Act (FMLA) ,
HDHPs ,
Health Insurance Portability and Accountability Act (HIPAA) ,
IRS
The IRS recently reversed course on the availability of the determination letter program for merged qualified retirement plans – thereby providing new alternatives for integrating qualified retirement plan benefits in the...more
It took roughly nine months, but you may now be in a position to identify and reveal the status of contracts as 162(m) grandfathered – or not. Last week, in IRS Notice 2018-68, the IRS provided long-awaited, albeit limited,...more
After more than nine years of deliberations, the IRS has finally released proposed regulations governing all types of deferred compensation plans maintained by non-profit organizations and governmental entities.
In...more
7/15/2016
/ Benefit Plan Sponsors ,
Comment Period ,
Deferred Compensation ,
Forfeiture ,
Government Entities ,
IRS ,
Non-Compete Agreements ,
Nonprofits ,
Paid Leave ,
Proposed Regulation ,
Section 409A ,
Section 457A ,
Severance Pay
In a recently released IRS Chief Counsel Memo, the IRS confirmed that wellness incentives are generally taxable. The memo also, indirectly, confirmed the tax treatment of wellness programs more generally....more