PODCAST: Williams Mullen's Benefits Companion - New IRS Guidance on SECURE 2.0 Act Student Loan Employer Contributions
Videocast: Asset management regulation in 2020 videocast series – SEC enforcement
Proposed Treasury regulations relating to catch-up contributions were issued in January of 2025 that include guidance for the mandatory Roth catch-up requirement, which was first provided under section 603 of Division T of...more
Happy Holidays! Employee benefits limits for 2025 have been promulgated by the government. Click the link below to view 2024-2025 comparisons of important employee benefits limits....more
The end of 2024 brings important deadlines and dates for employers that sponsor 401(k) plans, 403(b) plans, governmental 457(b) plans, and group health plans....more
As we approach the end of the year, employers have to handle a number of critical tasks to ensure compliance with various employee benefit plan requirements. The deadlines for (1) distributing annual notices, (2) amending...more
On September 12, the IRS reminded plan sponsors to review and comply with IRS Notice 2024-02 (the “Notice”), which extended and consolidated deadlines for employers and others sponsoring 401(k), 403(b), 457(b) and other...more
On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt discusses the recent IRS guidance regarding provisions under the SECURE 2.0 Act which allows employers to make matching contributions on account of...more
If so, you may need to do so by December 1, 2023. Our Employee Benefits & Executive Compensation Group reviews the multiple year-end notices that defined contribution plans must issue to participants....more
The Commissioner of Internal Revenue announced the 2024 dollar limitations for benefits and contributions that apply to retirement plans. The Social Security Administration increased the Social Security taxable wage base....more
Many employees who have had to resume repaying their federal student loans this month may find it harder to continue contributing to their employers’ retirement plans. For some employees, there simply is no room in the family...more
Among the most challenging components of the SECURE 2.0 Act of 2022 (SECURE 2.0) for plan sponsors is a requirement that any catch-up contributions for high wage earners can only be made on a Roth (after-tax) basis beginning...more
...In a 1986 press conference, President Ronald Reagan infamously quipped: “the nine most terrifying words in the English language are: ‘I’m from the government, and I’m here to help.’” While legislation affecting retirement...more
The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social...more
The DOL published on July 27, 2022 a proposed change to the QPAM Exemption (“Proposed QPAM Amendment”) that may require retirement plan sponsors to update their collective trust agreements in order to satisfy the new DOL...more
Key Takeaways - ..SECURE Act 2.0 passed the U.S. House of Representatives on March 29, 2022. ..SECURE Act 2.0 would make changes to employer-sponsored retirement plans to expand coverage and increase savings, as well as...more
The IRS has announced the 2021 dollar limits impacting retirement plans and IRAs. The agency also issued welfare plan limits, as well as ACA penalties. The chart below summarizes these 2021 figures along with the...more
Over the past several months, we have seen a number of public agency clients struggle through the process of evaluating and selecting a retirement plan adviser based only on generic questionnaires, a few phone calls, and an...more
IRS Notice 2020-68 (Notice) provides the first round of guidance on a number of provisions under the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) and the Bipartisan American Miners Act of...more
This post outlines CARES Act provisions that affect your plan sponsor clients, plan participants and IRA clients, so you can help them navigate the new rules. This post addresses the rules on required minimum distributions...more
The CARES Act contains several provisions impacting employer-sponsored individual account retirement plans (such as 401(k) plans, 403(b) plans, qualified profit sharing plans and governmental 457(b) plans), which are...more
After being on the verge of enactment last spring but failing to pass, the SECURE Act is now law. The Setting Every Community Up for Retirement Enhancement Act of 2019 – the SECURE Act – was enacted on December 20, 2019 as...more
New legislation impacting retirement plans and their participants was signed into law by President Trump on December 20, 2019. The Setting Every Community Up for Retirement Enhancement Act (the “SECURE Act”) is one of the...more
On Thursday, December 19, the Senate passed two spending bills to fund the government through September 30, 2020, one of which (H.R. 1865, the “Further Consolidated Appropriations Act of 2020” or the “Act”) contains the...more
This chart sets forth some of the annually adjusted dollar limits that impact employee benefits, as published by the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation. ...more
The IRS has announced the dollar limits for contributions and benefits in retirement plans and certain deferred compensation plans for 2020. We have compiled a chart summarizing the key limits below, including how they...more
The Internal Revenue Service and Social Security Administration have announced the benefit plan and employment tax limits for 2020. Certain limitations will not change for 2020 because they are not subject to annual...more