New proposed regulations issued by The Department of Treasury and IRS provide guidance on the provisions related to catch-up contributions that were included under SECURE 2.0 Act of 2022 (“SECURE 2.0”)....more
1/30/2025
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Benefit Plan Sponsors ,
Compensation & Benefits ,
Contribution Limits ,
Employee Benefits ,
Internal Revenue Code (IRC) ,
IRS ,
Proposed Rules ,
Regulatory Agenda ,
Retirement Plan ,
SECURE Act ,
Tax Credits ,
Tax Planning
Over the years, plan sponsors and administrators have wrestled with the question of what to do with the accounts of participants who left employment years earlier and cannot now be located. ...more
1/28/2025
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Compensation & Benefits ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Employee Benefits ,
Financial Services Industry ,
Individual Retirement Account (IRA) ,
IRS ,
Plan Participants ,
Reporting Requirements ,
Retirement Plan ,
SECURE Act
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
Last week, the IRS issued Notice 2023-62, providing welcome guidance relating to the mandatory Roth catch-up provision under Section 603 of the SECURE Act 2.0 (“S2”), which is effective for plan years beginning after December...more
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