As signed into law, Section 603 of the SECURE 2.0 Act of 2022 (SECURE 2.0) required that effective as of January 1, 2024, participants in 401(k) plans, 403(b) plans, or governmental 457(b) plans, who were age 50 or older and...more
8/30/2023
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Employee Benefits ,
Employee Contributions ,
IRS ,
Retirement ,
Retirement Funds ,
Retirement Plan ,
Roth IRA ,
SECURE Act ,
Tax Liability
On August 3, 2022, the IRS published Notice 2022-33, which extends the deadlines for amending retirement plans and IRAs to reflect certain changes to the law made by the SECURE Act; the Bipartisan American Miners Act; and...more
8/10/2022
/ Benefit Plan Sponsors ,
CARES Act ,
Deadlines ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
IRS ,
Regulatory Reform ,
Regulatory Requirements ,
Retirement ,
Retirement Plan ,
Retirement Plan Providers ,
SECURE Act
On Friday, July 16, 2021, the Internal Revenue Service (IRS) published the most recent revision to the Employee Plans Compliance Resolution System (EPCRS) in Revenue Procedure 2021-30. Revenue Procedure 2021-30 supersedes and...more
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (the “ARPA”) into law. Many of the provisions in this sweeping legislation bring changes to the employee benefits world of which employers should...more
4/1/2021
/ American Rescue Plan Act of 2021 ,
COBRA ,
Compensation & Benefits ,
Employee Benefits ,
Health Insurance ,
Multiemployer Plan ,
New Legislation ,
Regulatory Reform ,
Retirement Plan ,
Section 162(m) ,
Tax Credits
On May 4, 2020, the IRS provided guidance on coronavirus-related distributions (“CRDs”) and coronavirus-related loans and loan payment delays (“CR Loan Provisions”) in the form of FAQs....more
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which addresses the public economic and health crisis related to the 2019 novel coronavirus (COVID-19)....more
3/31/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Distribution Rules ,
Employee Benefits ,
Financial Stimulus ,
Pensions ,
Relief Measures ,
Required Minimum Distributions ,
Retirement Plan ,
Waivers
The Internal Revenue Service (IRS) has released the 2016 cost of living adjustments affecting dollar limits on benefits and contributions under qualified retirement plans and health savings accounts, which are largely...more
10/26/2015
/ 401k ,
Cost-of-Living Adjustment (COLA) ,
Defined Benefit Plans ,
Employee Benefits ,
Employee Contributions ,
ESOP ,
HDHP ,
Health Savings Accounts ,
IRS ,
Qualified Benefit Plans ,
Qualified Retirement Plans ,
Retirement Plan
On March 19, 2014, a three judge panel of the United States Court of Appeals for the Eighth Circuit issued its decision in Tussey v. ABB, Inc., No. 12-2056 (8th Cir. Mar. 19, 2014). The case came to the Eighth Circuit on an...more