In 2018, the Treasury Department and the IRS issued new hardship distribution rules applicable to defined contribution plans, and many plans have begun administering these new rules. While plan sponsors may want to wait for...more
7/10/2019
/ 401k ,
Benefit Plan Sponsors ,
Bipartisan Budget Act ,
Defined Contribution Plans ,
Employee Benefits ,
Hardship Distributions ,
IRS ,
New Rules ,
QMAC ,
QNEC ,
Retirement Plan
On July 21, 2015, the Internal Revenue Service (IRS) issued Announcement 2015-19 (the Announcement), which ends the five year remedial amendment cycles for individually designed plans effective January 1, 2017. For remedial...more
8/4/2015
/ Benefit Plan Sponsors ,
Comment Period ,
Defined Benefit Plans ,
Defined Contribution Plans ,
Determination Letter ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
Retirement Plan ,
Section 401 ,
U.S. Treasury