Seyfarth Synopsis: As previously reported here, on December 20, 2023, the IRS issued Notice 2024-2 (the “Notice”) providing guidance on several outstanding questions related to provisions under SECURE 2.0. This blog post...more
1/19/2024
/ 401k ,
403(b) Plans ,
Compensation & Benefits ,
Distribution Rules ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
IRS ,
Retirement ,
Retirement Plan ,
SECURE Act ,
Tax Liability ,
Tax Planning
Seyfarth Synopsis: Under Section 604 of Secure 2.0, sponsors of 401(k), 403(b) and governmental plans may allow employees to designate employer match (including match on student loan repayments) or nonelective contributions...more
1/12/2024
/ 401k ,
403(b) Plans ,
Corporate Counsel ,
Employee Benefits ,
Employee Contributions ,
Employees ,
Employer Contributions ,
IRS ,
Retirement ,
Retirement Plan ,
Roth IRA ,
SECURE Act ,
Tax Liability ,
W-2
Seyfarth Synopsis: The SECURE Act, passed just before the onset of the COVID-19 pandemic at the end of 2019 (“SECURE 1.0”), significantly altered the retirement plan landscape. For a reminder on how the SECURE Act changed the...more
Seyfarth Synopsis: The IRS just announced the 2023 annual limits that will apply to tax-qualified retirement plans. For a second year in a row, the IRS increased the annual limits, allowing participants to save even more in...more
Seyfarth Synopsis: Many of the limitations that apply to tax-qualified plans, including 401(k) and 403(b) plans, are subject to cost-of-living increases. The IRS just announced the 2021 limits. The annual employee salary...more
Seyfarth Synopsis: The Federal Emergency Management Agency (FEMA) has declared several disaster areas around the United States as a result of the spread of the coronavirus (COVID-19)....more
Seyfarth Synopsis: The SARS CoV-2 virus (“coronavirus”) has been declared a global pandemic by the World Health Organization. It’s fair to say that none of us have ever experienced a pandemic, or at least not on this level. ...more
3/16/2020
/ 403(b) Plans ,
Audits ,
China ,
Coronavirus/COVID-19 ,
Crisis Management ,
Determination Letter ,
Emergency Management Plans ,
Employee Benefits ,
Filing Deadlines ,
Filing Requirements ,
Infectious Diseases ,
Notice Requirements ,
Public Health ,
Qualified Disaster Relief Payments ,
Retirement Plan ,
SECURE Act ,
Tax Exempt Entities
Seyfarth Synopsis: Many of the limitations that apply to tax-qualified plans, including 401(k) plans, are subject to cost-of-living increases. The IRS just announced the 2020 limits. 401(k) plan contribution limits are...more
11/7/2019
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Compensation & Benefits ,
Contribution Limits ,
Cost-of-Living Adjustment (COLA) ,
Defined Benefit Plans ,
Employee Benefits ,
Employer Contributions ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Retirement Plan ,
Tax Planning