In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces.
Together, the...more
12/29/2023
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Compensation & Benefits ,
Employee Benefits ,
Employees ,
Employer Liability Issues ,
IRS ,
New Legislation ,
Part-Time Employees ,
Regulatory Reform ,
Required Minimum Distributions ,
Retirement Plan ,
SECURE Act
In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond.
The SECURE 2.0 Act indicates that any plan that permits catch-up contributions...more
In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond.
The SECURE 2.0 Act indicates that any plan that permits catch-up contributions...more
Employers can offer participants who are age 50 or older the opportunity to make additional catch-up contributions to their retirement plans. Doing so provides a great way for older workers to save more money—up to an extra...more
The Internal Revenue Service’s (IRS) Employee Plans Compliance Resolution System (EPCRS) allows employers to correct errors involving the maintenance and operation of tax-qualified retirement plans. Depending on the severity...more
Recently issued Notice 2023-43 provides interim guidance on certain changes to the Employee Plans Compliance Resolution System (EPCRS) made by the SECURE 2.0 Act of 2022. In particular, the notice addresses how plan sponsors...more
The SECURE Act—the most significant piece of retirement plan legislation in more than a decade—is now law. Plan sponsors should immediately start considering how changes included in the SECURE Act could impact their...more
1/8/2020
/ 401k ,
Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Benefits ,
Health and Welfare Plans ,
Multiemployer Plan ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Safe Harbors ,
SECURE Act
Beginning September 1, 2019, the IRS is expanding its retirement plan determination letter program to apply to certain individually designed statutory hybrid and merged plans. Employers sponsoring hybrid plans not previously...more
The IRS recently released an updated version of EPCRS, the IRS’s program for correcting errors that occur under tax-qualified retirement plans. The latest version of EPCRS makes it easier for plan sponsors to self-correct...more
5/22/2019
/ Audits ,
Benefit Plan Sponsors ,
Employee Benefits ,
EPCRS ,
Internal Revenue Code (IRC) ,
IRS ,
Policies and Procedures ,
Retirement Plan ,
Revenue Procedures ,
Self-Correction Programs ,
Voluntary Correction Program
This month, Allison Wilkerson, Brian Tiemann and Sarah Engle join host Judith Wethall to talk through the value of conducting a proactive self-audit of 401(k) plans. They will provide best practices designed to reduce the...more
The IRS recently issued proposed amendments to regulations concerning 401(k) plan hardship distributions. The proposed regulations address changes to hardship distribution rules from the Bipartisan Budget Act of 2018 and...more
The Tax Cuts and Jobs Act made significant changes to the tax code and will have a significant impact on businesses and individual taxpayers. However, although initial proposals included potentially significant changes to...more
1/3/2018
/ 401k ,
457(b) Plans ,
Benefit Plan Sponsors ,
Individual Retirement Account (IRA) ,
IRA Rollovers ,
Natural Disasters ,
New Legislation ,
Retirement Plan ,
Roth IRA ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Tax Relief
On Saturday, the Senate passed its version of the Tax Cuts and Jobs Act. The process of reconciling the House and Senate versions of the bill has already begun in earnest. Currently, the retirement-plan-related changes...more
Earlier this year, the IRS released proposed regulations which permit employers to use forfeitures to fund safe harbor contributions, QNECs and QMACs. ...more
On July 11, 2016, the Department of Labor (DOL), Internal Revenue Service (IRS) and Pension Benefit Guaranty Corporation (PBGC) announced a proposal to implement sweeping changes to the forms and regulations that govern...more
Summary -
On July 11, 2016, the Department of Labor (DOL) and Internal Revenue Service (IRS) announced a proposal to implement significant changes to the forms and regulations that govern annual employee benefit plan...more
8/1/2016
/ Affordable Care Act ,
Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Form 5500 ,
Health and Welfare Plans ,
Internal Revenue Code (IRC) ,
IRS ,
Reporting Requirements
On December 4, 2015, President Obama signed the Fixing America’s Surface Transportation Act (FAST Act). In addition to authorizing $305 billion in funding for federal highway projects, the FAST Act also repeals the recently...more