News & Analysis as of

Compensation & Benefits 403(b) Plans

Seyfarth Shaw LLP

So, How Can Participants Invest Their Retirement Money?

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Under the current administration, the Department of Labor has once again changed course on its view of permissible investing strategies for retirement plans, warming to crypto and private equity, and confirming their distrust...more

Hall Benefits Law

SCOTUS Revives Cornell 403b Lawsuit: What Fiduciaries Must Know

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Fiduciaries must treat plan management as an active compliance obligation to avoid legal exposure, says a Hall Benefits Law practitioner. On April 17, 2025, the US Supreme Court issued a unanimous per curiam opinion in...more

Carlton Fields

The Case of Excessive Fees: Supreme Court to Investigate Pleading Standard in ERISA Excessive Fee Litigation

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ERISA class action litigation against retirement plan fiduciaries remains a prominent feature of the legal landscape this year. These lawsuits typically involve allegations that plan fiduciaries acted imprudently in...more

Clark Hill PLC

2025 Benefits Limits

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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

Faegre Drinker Biddle & Reath LLP

Things I Worry About (4): Automatic Enrollment (4)

SECURE 2.0 was enacted on December 29, 2022. Among its provisions is a requirement that “new” 401(k) plans and private sector 403(b) plans must automatically enroll their eligible employees, but not until the first plan year...more

Venable LLP

Year-End Deadlines and Dates for Employee Benefit Plans

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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

Quarles & Brady LLP

IRS Releases 2025 Limits for Benefit Plans

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The Internal Revenue Service has released cost of living increase numbers for many retirement and welfare plan limits for plan years commencing in 2025. Elective deferrals to 401(k) and 403(b) plans increased from $23,000 to...more

Quarles & Brady LLP

Key SECURE 2.0 Act Updates for Defined Contribution Retirement Plans

Quarles & Brady LLP on

Updated 401(k) and 403(b) Requirements for Long-Term Part-Time Employees. Starting in 2025, 401(k) and 403(b) retirement plans must offer the plan’s salary deferral feature to long-term part-time employees who are at least...more

Pullman & Comley, LLC

New Dollar Limits Applicable to Retirement Plans for 2025

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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 2025. Many...more

Carlton Fields

IRS Clarifies Application of Required Minimum Distribution Rules to Inherited Retirement Accounts

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The Secure Act, passed in 2019 and updated in 2022, made significant changes to the required minimum distribution (RMD) rules applicable to qualified retirement plans, IRAs, 403(b) plans, and other eligible deferred...more

Baker Donelson

Preparing Employers for SECURE 2.0 Compliance in 2025

Baker Donelson on

As 2024 draws to a close, plan sponsors should be aware of those provisions of the SECURE Act 2.0 that become effective in 2025. Recall that the SECURE 2.0 Act (SECURE 2.0) was enacted on December 29, 2022, and while some...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - November 2024

The November Monthly Minute kicks off the season of giving with SECURE 2.0 requirements for 2025 and the latest IRS retirement plan cost-of-living adjustments....more

Williams Mullen

Annual Employee Benefits Compliance Checklists - Plan Administrators

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Plan administrators should review the following actions to be taken before the end of 2024 and focus on what to expect for 2025. The following checklist addresses plan amendments, notices, and other considerations for...more

Jackson Lewis P.C.

2025 Cost of Living Adjustments for Retirement Plans

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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

Bricker Graydon LLP

New IRS Guidance for Long-Term Part-Time Employees in ERISA covered 403(b) Plans at Private, Non-Profit Institutions of Higher...

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In potentially welcome news for public institutions of higher education, in Notice 2024-73, the Internal Revenue Service (IRS) confirmed that the new long-term part-time (LTPT) rules introduced by the SECURE Act and SECURE...more

Miller Canfield

IRS Issues FAQs Regarding Long-Term Part-Time Employees in 403(b) Plans

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The IRS recently issued Notice 2024-73, which provides much-needed guidance on long-term, part-time (“LTPT”) employees in ERISA-governed 403(b) retirement plans. Following passage of the SECURE 2.0 Act, an employee is...more

Nelson Mullins Riley & Scarborough LLP

IRS Reminder: Deadlines Extended for Retirement Plan Amendments but Compliance Still Required

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

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - New IRS Guidance on SECURE 2.0 Act Student Loan Employer Contributions

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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

Patterson Belknap Webb & Tyler LLP

Does Your Retirement Plan Need a 'PLESA'?

Pension-Linked Emergency Savings Accounts (“PLESAs”) are a special retirement plan feature created under SECURE ACT 2.0. PLESAs were first permitted to be made available to participants as of January 1, 2024. PLESAs, which...more

Jackson Lewis P.C.

Automatic Enrollment: This Is The Way

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Thanks to SECURE Act 2.0, newly established 401(k) and 403(b) plans must now have an automatic enrollment. The SECURE Act 2.0 was passed in December 2022 and made sweeping changes to retirement plan regulations....more

Pullman & Comley, LLC

New Dollar Limits Applicable to Retirement Plans for 2024

Pullman & Comley, LLC on

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

Seyfarth Shaw LLP

SECURE 2.0: Guidance on Exception to Early Distribution Penalty for Terminally Ill Individuals

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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

Pullman & Comley - Labor, Employment and...

Extended Time to Amend Tax Qualified Retirement Plans for SECURE 2.0 Act and other Legislation

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

Verrill

IRS Issues Practical Guidance for Implementing SECURE 2.0 Provisions

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The Internal Revenue Service gave retirement plan sponsors end-of-the-year gifts by providing guidance under twelve sections of the SECURE 2.0 Act of 2022 (“SECURE 2.0”). Although Notice 2024-2, released December 20, 2023...more

Bradley Arant Boult Cummings LLP

New IRS SECURE 2.0 Act Guidance

The Internal Revenue Service (IRS) recently published Notice 2024-2, which provides guidance on several sections of the SECURE 2.0 Act of 2022. This article highlights some of the more significant changes affecting retirement...more

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