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.
Under the SECURE...more
1/25/2024
/ 401k ,
Billable Hours ,
Employee Benefits ,
Employees ,
Employer Liability Issues ,
Full-Time Employees ,
IRS ,
Part-Time Employees ,
Proposed Regulation ,
Retirement Plan ,
SECURE Act
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.
Under the SECURE...more
1/25/2024
/ 401k ,
403(b) Plans ,
Employee Benefits ,
Employees ,
Employer Contributions ,
Full-Time Employees ,
IRS ,
Non-Discrimination Rules ,
Part-Time Employees ,
Retirement ,
Retirement Plan ,
SECURE Act
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.
Under the SECURE...more
1/25/2024
/ 401k ,
403(b) Plans ,
Employee Benefits ,
Employees ,
Employer Liability Issues ,
Full-Time Employees ,
IRS ,
Part-Time Employees ,
Proposed Regulation ,
Retirement Plan ,
SECURE Act
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.
Following the...more
1/25/2024
/ 401k ,
Billable Hours ,
Employee Benefits ,
Employees ,
Employer Liability Issues ,
Full-Time Employees ,
IRS ,
Part-Time Employees ,
Proposed Regulation ,
Retirement Plan ,
SECURE Act
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 SECURE...more
1/24/2024
/ Employee Benefits ,
Employee Tracking ,
Employees ,
Employer Liability Issues ,
Hiring & Firing ,
Human Resources Professionals ,
IRS ,
Labor Reform ,
New Rules ,
Part-Time Employees ,
Policies and Procedures ,
Proposed Regulation ,
Regulatory Agenda ,
SECURE Act
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
Together, the SECURE Act and the SECURE 2.0 Act feature numerous changes to retirement plan rules that aim to help employees achieve retirement security by ensuring that more workers have access to retirement plans, can save...more
12/20/2023
/ 401k ,
403(b) Plans ,
Compensation & Benefits ,
Corporate Counsel ,
Employee Benefits ,
Employees ,
IRS ,
New Guidance ,
Part-Time Employees ,
Retirement Plan ,
SECURE Act
Yahoo! Let’s celebrate—the IRS gave us more time! On August 25, 2023, the Internal Revenue Service announced an administrative transition period that effectively delays the deadline for adding Roth 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. Yahoo! Let’s celebrate—the IRS gave us more time! Earlier today, the Internal...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.
In an open letter to Secretary of the Treasury Janet Yellen and IRS Commissioner...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 requires participants who earned more than $145,000 in FICA...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
A bill titled Jumpstarting Our Businesses’ Success Credit Act of 2020, which would make significant changes to the employee retention tax credits available under the CARES Act, is currently under consideration in the US House...more
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
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
On Friday, August 17, 2018, the IRS released a private letter ruling (PLR) which will help clear the way for employers to provide a new type of student loan repayment benefit as part of their 401(k) plans. By issuing the PLR,...more
On August 17, 2018, the IRS released a private letter ruling which will help clear the way for employers to provide a new type of student loan repayment benefit as part of their 401(k) plans. This ruling is important because...more
The Internal Revenue Service (IRS) recently released “Issue Snapshots” on a number of topics related to tax-qualified retirement plans, including both pension and savings plans. Historically, the snapshots have explained...more
The Internal Revenue Service recently released final regulations confirming that employers can use plan forfeitures to fund qualified non-elective contributions (QNECs), qualified matching contributions (QMACs) and safe...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