The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2024. Many...more
2/12/2024
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Compensation & Benefits ,
Contribution Limits ,
Cost-of-Living Adjustment (COLA) ,
Employee Benefits ,
Internal Revenue Code (IRC) ,
IRS ,
Retirement Plan ,
Tax Planning
On December 20, 2023, the Internal Revenue Service (IRS) issued Notice 2024-2 to “provide guidance on discreet issues” concerning the implementation of specific provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0)....more
1/12/2024
/ 403(b) Plans ,
457(b) Plans ,
Compensation & Benefits ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
IRS ,
Qualified Retirement Plans ,
Regulatory Requirements ,
Retirement ,
Retirement Plan ,
SECURE Act ,
Tax Planning
The SECURE 2.0 Act of 2022 (SECURE 2.0), enacted on December 29, 2022 as part of the Consolidated Appropriations Act of 2023, will impact retirement plan operations for years to come. Some provisions were effective as of the...more
Section 457(b) Plans provided by Tax-Exempt employers for their highly compensated employees and/or a select group of management employees (“Tax-Exempt 457(b) Plans”) are subject to required minimum distribution rules under...more
Retirement plans and individual retirement accounts (IRAs) are subject to required minimum distribution rules under Internal Revenue Codes Section 401(a)(9). The SECURE Act amended the required minimum distribution rules...more
The Internal Revenue Service recently announced a new pilot pre-examination retirement plan compliance program initiated in June. If you are a plan sponsor, do not play ostrich should you receive an IRS Pre-Examination...more
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2020. Many...more
12/19/2019
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Contribution Limits ,
Cost-of-Living Adjustment (COLA) ,
Defined Benefit Plans ,
Employee Benefits ,
FICA Taxes ,
Highly Compensated Employees ,
IRS ,
Popular ,
Qualified Benefit Plans ,
Qualified Retirement Plans ,
Retirement Plan ,
Social Security ,
Tax Planning