News & Analysis as of

401k Individual Retirement Account (IRA) Employee Benefits

Jackson Lewis P.C.

Countdown to Compliance: What Employers Need to Know About New York’s Secure Choice Savings Program

Jackson Lewis P.C. on

New York has officially joined the growing list of states requiring certain private employers to offer retirement savings options. The New York Secure Choice Savings Program (Secure Choice or the Program) is moving closer to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Why TPAs Shouldn’t Ignore SEP-IRAs—But Also Shouldn’t Stop There

If you’re a TPA and you’re not talking to your small business clients about SEP-IRAs, you’re missing the plot. But if you’re only talking about SEP-IRAs, you’re missing the opportunity....more

Jenner & Block

Client Alert: “Trump Accounts” – Tax-Advantaged Savings Accounts for Children

Jenner & Block on

On Friday, July 4, President Trump signed into law the One Big Beautiful Bill Act (H.R. 1) (“Big Beautiful Bill”) after narrow approval from both houses of Congress. The legislation extends the Tax Cuts and Jobs Act and...more

Jackson Lewis P.C.

Missing Participants – New State Unclaimed Property Fund Option for Small Balances

Jackson Lewis P.C. on

On January 14, 2025, the DOL issued Field Assistance Bulletin (FAB) 2025-01, providing sponsors and administrators of ongoing defined contribution plans with a new option for missing participant balances of $1,000 or less:...more

McCarter & English, LLP

DOL Issues Guidance on Retirement Plan Treatment of Missing Participants with Small Balances

The United States Department of Labor (DOL) has released Field Assistance Bulletin 2025-01 (the Bulletin), providing much-needed guidance to fiduciaries of retirement plans covered by the Employee Retirement Income Security...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Direct Employer Assistance and 401(k) Plan Relief Options for Employees Affected by California Wildfires

In the past week, devastating wildfires in Los Angeles, California, have caused unprecedented destruction across the region, leading to loss of life and displacing tens of thousands. While still ongoing, the fires already...more

Proskauer - Employee Benefits & Executive...

Employer Benefit Plan Assistance FAQs: California Wildfires

In the wake of the horrific wildfires in Los Angeles (which are ongoing as of today), employees based in the Los Angeles area may have questions about available support from employer-sponsored 401(k) plan accounts and other...more

Kilpatrick

5 Key Takeaways | IRS Final RMD Rules & Proposed Regulations to Address SECURE 2.0 Act Issues

Kilpatrick on

Kilpatrick partner Sterling Perkinson and counsel San Parikh recently presented a CLE webinar for Strafford that focused on the 2024 Final Regulations and 2024 Proposed Regulations released on July 19, 2024, implementing the...more

Warner Norcross + Judd

SECURE 2.0 Updates to Think About for 2025

Warner Norcross + Judd on

As 2025 approaches, we want to share important reminders about key changes from the SECURE 2.0 legislation that have taken effect or will take effect soon. •Increased Catch-up Contribution Limit for Ages 60 - 63....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Avoiding 401(k) Problems With Former Employees

Ialways say that the real reason I never hired employees for my law firm is that I was once an employee too. That means that no matter what my employer could do, there would probably be some- thing I still would complain...more

BCLP

IRS Releases 2025 Adjusted Qualified Plan Limitations

BCLP on

The Internal Revenue Service released the cost-of-living adjusted qualified retirement plan and welfare plan limitations effective January 1, 2025. For ease of reference and comparison to prior years, we have placed the...more

Williams Mullen

Benefit and Contribution Limits for 2025

Williams Mullen on

The Commissioner of Internal Revenue announced the 2025 dollar limitations for benefits and contributions that apply to retirement plans. The Social Security Administration increased the Social Security taxable wage base....more

Bricker Graydon LLP

Retirement Plan Limit and Catch-up Contribution Modifications for 2025

Bricker Graydon LLP on

The IRS released its annual update for the cost-of-living adjustments for 2025. Similar to the adjustments made last year, there are widespread increases for 2025....more

Jackson Lewis P.C.

2025 Cost of Living Adjustments for Retirement Plans

Jackson Lewis P.C. on

The Internal Revenue Service recently announced its cost-of-living adjustments applicable to dollar limitations on benefits and contributions for retirement plans generally effective for Tax Year 2025 (see IRS Notice...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The way to grow a PEP is through the state mandates

I’m all for states requiring employers to offer a retirement plan or join the state-endorsed IRA program. It increases retirement plan coverage and as a member of the 401(k) industry, it can increase the potential client...more

Patterson Belknap Webb & Tyler LLP

Interim Guidance on Matching Qualified Student Loan Payments

Until recently, employer matching contributions under qualified plans were required to be conditioned solely upon employee contributions made to the plan. However, one of the many changes enacted by the Consolidated...more

Verrill

IRS Issues Guidance Addressing Matching Contributions on Student Loan Payments

Verrill on

Section 110 of the SECURE 2.0 Act of 2022 (“SECURE 2.0”) permits employers maintaining a 401(k), 403(b), governmental 457(b), or SIMPLE IRA plan to make matching contributions based on qualified student loan payments...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The mega backdoor Roth is usually not going to work

I have received more inquiries about after-tax voluntary contributions in the past two weeks than in the last 20 years. Why? Well, a lot of people are reading up on these Mega Backdoor Roth articles online....more

Lathrop GPM

Retirement Security Fiduciary Rule Stayed

Lathrop GPM on

Under recently finalized federal regulations (commonly referred to as the “Fiduciary Rule”) that were scheduled to become effective on September 23, 2024, the U.S. Department of Labor intended to expand the fiduciary...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Engage With Your Employees Over Your 401(k) Plan

Being an employer employing people is tough. I was an employee once and that’s why I will try to avoid hiring one. That being said, one of the great benefits that you can offer your employees is a retirement plan. The problem...more

Snell & Wilmer

Catch Back Up on the SECURE 2.0 Increased Catch-Up Limits for 2025

Snell & Wilmer on

With SECURE 2.0’s increased catch-up contribution limits set to take effect next year, it’s time for 401(k) plan sponsors to brush up on the rules and consider how to administer the changes. Under the current rules, 401(k)...more

Morgan Lewis

IRS Provides Guidance on Hodgepodge of Secure 2.0 Provisions

Morgan Lewis on

The US Internal Revenue Service (IRS) released a notice providing guidance on various provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0). Some of the topics touched on in the guidance include automatic enrollment, the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Some of these SECURE options won’t be popular

Years ago, legislation allowed a sidecar IRA account where participants could add an IRA contribution to their 401(k) plan. That was as popular as AfterMASH. Some provisions have been added over the years by Congress, that...more

Jackson Lewis P.C.

You Don’t Have To Go Home, But You Can’t Stay Here

Jackson Lewis P.C. on

It’s 2024, which means a new batch of provisions from SECURE Act 2.0 have gone into effect. One of the more significant ones is an increase in the “cashout” limit that a qualified plan can impose to kick former employees with...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

State plans push independent 401(k) plans

The reason I like state-mandated IRA programs for employers is because it increases retirement plan coverage and it nudges employers to offer plans of their own since they distrust the government. A recent study by Gusto...more

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