News & Analysis as of

Internal Revenue Service 403(b) Plans Highly Compensated Employees

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
BCLP

Prepare Now for Mandatory Roth Catch-Up

BCLP on

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

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

Foster Swift Collins & Smith

IRS Announces 2025 Cost-of-Living Adjustments for Retirement Plans and for Health and Welfare Benefit Plans

The IRS has announced the 2025 cost-of-living adjustments for retirement plan and health and welfare benefit plan limitations. The charts below set forth the applicable limitations....more

Foley & Lardner LLP

To 457(b) or Not to 457(b): Five Rules You Must Follow to Keep Your 457(b) Plan Compliant

Foley & Lardner LLP on

Recruiting and retaining top executives can be challenging for non-governmental tax-exempt organizations such as Code §501(c)(3) organizations, private universities, and certain healthcare organizations (Nonprofits). Not only...more

Bond Schoeneck & King PLLC

IRS Announces 2023 Retirement Plan and Other Benefit Limitations

The Internal Revenue Service announced the dollar limitations for retirement plans and other benefits, beginning January 1, 2023. Some of the limits are listed below....more

Pullman & Comley, LLC

IRS Cost of Living Adjusted Dollar Limits Applicable to Retirement Plans for 2022

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 2022. Many...more

Ruder Ware

2022 Qualified Plan Cost of Living Increases, 2022 Social Security Taxable Wage Base

Ruder Ware on

On November 4, 2021 the Internal Revenue Service announced the cost-of-living adjustments for the various qualified retirement plan limits. The vast majority of the limits shown below have increased from last year....more

Troutman Pepper Locke

IRS Announces 2021 Retirement Plan Limits – Most Limits Remain Unchanged

Troutman Pepper Locke on

The Internal Revenue Service announced the 2021 cost-of-living adjustments to the dollar limitations for qualified retirement plans and other benefits, and the Social Security Administration announced its own cost-of-living...more

Kilpatrick

2021 Retirement Plan Limits

Kilpatrick on

Please see full Chart below for more information....more

Kilpatrick

IRS Relaxes Some Requirements for Midyear Changes to Safe Harbor Plans

Kilpatrick on

Qualified 401(k) and 403(b) retirement plans that are designed with certain minimum matching or nonelective contribution formulas are deemed to pass annual ADP and ACP nondiscrimination testing requirements applicable to...more

McGuireWoods LLP

COVID-19 and Employee Benefits #5: IRS Allows Midyear Safe Harbor Retirement Contribution Changes

McGuireWoods LLP on

The IRS recently issued Notice 2020-52 providing flexibility to employers wishing to reduce or suspend safe harbor contributions to safe harbor 401(k), 401(m) and 403(b) plans in light of the economic and business challenges...more

Seyfarth Shaw LLP

Plop, Plop, Fizz, Fizz – Relief For Safe Harbor Plans Reducing or Suspending Contributions in 2020

Seyfarth Shaw LLP on

Seyfarth Synopsis: Due to the significant economic impact of COVID-19 on businesses, many plan sponsors would like to reduce or suspend contributions to safe harbor 401(k) plans this year. Normally, mid-year changes to safe...more

Groom Law Group, Chartered

The IRS Provides Relief for Mid-Year Reductions in Employer Contributions to Safe Harbor Plans

On June 29, the Internal Revenue Service (“IRS”) issued Notice 2020-52, which provides guidance and temporary relief for employers who may choose to reduce contributions during 2020 to their safe harbor 401(k) or 403(b) plan....more

Foley & Lardner LLP

IRS Provides Additional Ways to Reduce or Suspend Safe Harbor Contributions for 2020

Foley & Lardner LLP on

To the extent plan sponsors of 401(k) or 403(b) safe harbor plans have not yet reduced or suspended safe harbor contributions for the 2020 plan year, they may now find it easier to do so under IRS Notice 2020-52, issued on...more

Pullman & Comley, LLC

IRS Announces Cost of Living Adjustment (COLA) Limits for 2020 Applicable to Retirement Plans

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 2020. Many...more

Faegre Drinker Biddle & Reath LLP

IRS Announces 2020 Dollar Limits for Employee Benefit Plans

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

Pullman & Comley, LLC

IRS Announces Cost of Living Adjustment (COLA) Limits for 2019 Applicable to Retirement Plans

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 2019. ...more

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