Employee Benefits and Executive Compensation: Getting Ready for 2024 - Qualified Plans — Special Edition Podcast
KNOCK YOURSELF OUT - RESUSCITATING TAXPAYERS WITH BUYER'S REMORSE!
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
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
Employers with at least 25 employees in New Jersey that do not already offer a qualified retirement plan to employees must take action to facilitate the RetireReady NJ Retirement Savings Program (“RetireReady NJ”)....more
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
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
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
Passed by Congress in late 2019, the SECURE Act contained the most significant changes to qualified retirement plans (QRPs) and IRAs since the Pension Protection Act of 2006. Notably, the SECURE Act eliminated the...more
Earlier this year, the Internal Revenue Service (IRS) issued Notice 2022-23, which extended the deadline to make certain amendments pursuant to the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019,...more
Qualified retirement plans will experience unusually sharp increases to compensation and contribution limitations for 2023 compared to adjustments in recent years. On October 21, 2022, the Internal Revenue Service (IRS)...more
Today the IRS announced in Notice 2021-61 the cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2022 under the Internal Revenue Code. Nearly every...more
Passed by Congress in late 2019, the SECURE Act (Act) contained the most significant changes to qualified retirement plans (QRPs) and IRAs since the Pension Protection Act of 2006. Notably, the Act eliminated the ability...more
On October 26, 2020 the Internal Revenue Service announced the cost-of-living adjustments for the various qualified retirement plan limits. Some of the limits shown below have increased from last year while others remained...more
On February 20, 2020, the Puerto Rico Treasury Department (PR Treasury) issued Internal Revenue Circular Letter Number 20-09 (CC RI 20-09) to provide special rules and procedures applicable to distributions from qualified...more
On December 20, President Trump signed into law the “Setting Every Community Up for Retirement Enhancement Act of 2019,” known and referred to colloquially as the “SECURE Act.” The law’s stated purpose, among other things, is...more
On December 20, 2019, President Trump signed the Further Consolidated Appropriations Act, 2020, a spending bill that includes the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”)...more
The holiday season is always a busy and eventful time, so you may have missed a new law that can impact how you plan for your retirement assets. On December 20, 2019, as part of a more comprehensive appropriations act, the...more
Please be advised that contacting Ruder Ware by e-mail does not create an attorney-client relationship. If you contact the firm by e-mail with respect to a matter where the firm does not already represent you, any information...more
As we previously reported, Illinois implemented the Illinois Secure Choice Savings Program (Program), under which private sector workers in Illinois who do not have access to an employer-sponsored retirement plan will be...more
Employers in California should be ready for a big change in the retirement law to take effect over the next three years. This change comes in the form of a new California program called CalSavers (formerly known as Secure...more
The Tax Cuts and Jobs Act of 2017 (“TCJA”), the Bipartisan Budget Act of 2018, and recently proposed IRS regulations have made significant changes to the rules governing 401(k) and other qualified retirement plans....more
Employers in Illinois with at least 25 employees must comply with the Illinois Secure Choice Savings Program Act (Secure Choice) or offer employees an employer-sponsored retirement plan. Secure Choice is set to roll out in...more
Since 2016, the Internal Revenue Service Tax Exempt and Government Entities Division (TE/GE) has followed a practice of posting “issue snapshots” – technical summaries of tax issues provided for reference purposes – from time...more
• The recent Tax Cuts and Jobs Act of 2017 (the Act), enacted on Dec. 22, 2017, contains a few rules that will impact benefit administrators. • This client alert focuses on changes made to the tax treatment of plan loan...more
On December 22, President Donald Trump signed into law H.R. 1 (the Act), which makes widespread changes to the Internal Revenue Code. The Act makes several changes to the rules governing retirement plans, welfare plans and...more
On November 15, 2017, the Puerto Rico Department of the Treasury (the "PR Treasury") issued Administrative Determination Number 17-29 ("AD 17-29") to provide special rules and procedures applicable to distributions from...more