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Retirement Plan Employee Benefits Individual Retirement Account (IRA)

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

Fisher Phillips

Employer Guide to Nevada’s New Retirement Savings Program for Private Sector Employees

Fisher Phillips on

Nevada’s new state-facilitated retirement program for private-sector employees is now live. While the Nevada Employee Savings Trust (NEST) Program is designed to minimize the administrative, cost, and liability burdens for...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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

A SIMPLE Plan isn’t so simple

Small business plans that require no testing such as a SIMPLE IRA sound great on paper, but they create a nightmare when you want to save more for retirement as an employer....more

Seyfarth Shaw LLP

Missing Participants – What to do With Abandoned Accounts

Seyfarth Shaw LLP on

Over the years, plan sponsors and administrators have wrestled with the question of what to do with the accounts of participants who left employment years earlier and cannot now be located. ...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

Cole Schotz

RetireReady NJ: Reminder About The Requirements Under The New Jersey Secure Choice Savings Program Act

Cole Schotz on

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

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

Bricker Graydon LLP

Considering Auto-Portability for your Retirement Plan?

Bricker Graydon LLP on

We have noticed an increasing number of employers reaching out with questions about whether they should have their defined contribution plan join the auto-portability network. ...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

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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

Katten Muchin Rosenman LLP

2024 Year-End Estate Planning: Retirement Planning

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act), was originally signed into law on December 20, 2019. Intended to assist and encourage Americans in saving and investing for retirement,...more

Carlton Fields

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

Carlton Fields on

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

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

Farrell Fritz, P.C.

New Savings Opportunity – Converting a 529 Plan to Roth IRA

Farrell Fritz, P.C. on

Recent changes implemented by Secure Act 2.0 provide a powerful retirement opportunity. Starting in 2024, Congress changed the way that 529 accounts work....more

Husch Blackwell LLP

Planning for Retirement Benefits Post-Secure Act

Husch Blackwell LLP on

On July 18, 2024, the Internal Revenue Service (IRS) issued final regulations updating the required minimum distribution (RMD) rules. The final regulations reflect changes made by the Setting Every Community Up for Retirement...more

Morgan Lewis - ML Benefits

DOL QPAM Notification Deadline of September 15 Fast Approaching

The amendments to the QPAM Exemption include a September 15, 2024 notification deadline that will apply to many asset managers. This blog post includes a brief summary of the US Department of Labor’s (DOL’s) recent technical...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

Lathrop GPM

Fifty Years of ERISA

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On Labor Day fifty years ago, September 2, 1974, President Ford signed the Employee Retirement Income Security Act of 1974 (ERISA) into law. It is a combination of tax and labor law incorporating trust law like fiduciary...more

Vedder Price

Two Federal District Courts Stay DOL Fiduciary Rule

Vedder Price on

On July 25, 2024, the U.S. District Court for the Eastern District of Texas stayed the U.S. Department of Labor’s (DOL) recently-issued final rule, set to take effect September 23, 2024, which would amend the definition of an...more

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