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Retirement Plan › New Guidance › Employee Contributions

Bricker Graydon LLP

Don’t Forget About the IRS When Correcting Delinquent Plan Contributions

Bricker Graydon LLP on

Employers that do not timely deposit participant deferrals and loan contributions to their employer sponsored retirement plans can be subject to Department of Labor (DOL) penalties for breaching their fiduciary duties....more

Holland & Knight LLP

IRS Issues Notice 2024-2 Outlining Guidance on SECURE 2.0 Provisions

Holland & Knight LLP on

The IRS issued Notice 2024-2 (Notice), which provides guidance in a question and answer format concerning certain provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0). The following is a brief overview of key provisions in...more

Bricker Graydon LLP

The Gift That Keeps on Giving: New IRS Guidance on Roth Employer Contributions

Bricker Graydon LLP on

The Internal Revenue Service (IRS) gave plan sponsors an early Christmas gift with the release of new guidance late last year addressing several key provisions contained in SECURE 2.0. A welcome portion of the notice was...more

Davis Wright Tremaine LLP

New IRS Guidance on Long-Term, Part-Time Employee Retirement Plan Participation

Davis Wright Tremaine LLP on

New proposed regulations clarify how employers should implement retirement plan eligibility rules for long-term, part-time ("LTPT") employees. While some questions remain, the proposed regulations provide a number of welcome...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Catching Up With the Times - IRS Issues Guidance Delaying Required Roth Catch-up Contributions

Ogletree, Deakins, Nash, Smoak & Stewart,... on

To the relief of plan sponsors everywhere, the Internal Revenue Service (IRS) recently issued Notice 2023-62, which provides guidance on the requirements of Section 603 of the SECURE Act 2.0 of 2022 relating to catch-up...more

Venable LLP

SECURE 2.0 Roth Catch-up Requirement Delayed until January 1, 2026

Venable LLP on

On August 25, 2023, the IRS issued guidance delaying until January 1, 2026 the SECURE 2.0 requirement that any age 50 catch-up contributions by an employee with prior-year compensation over $145,000 be made on a Roth basis,...more

Proskauer - Employee Benefits & Executive...

PBGC Provides Temporary Flexibility for Variable-Rate Premium Calculations

Proskauer - Employee Benefits & Executive... on

In late September, the Pension Benefit Guaranty Corporation (the “PBGC”) published Press Release 20-04 and issued Technical Update 20-2 providing flexibility in the calculation of variable-rate premiums for plan sponsors who...more

Stinson - Benefits Notes Blog

IRS Approves Student Loan Repayment “Match” Under 401(k) Plan

Stinson - Benefits Notes Blog on

One of the clear trends in employee benefits involves companies offering assistance with their workforce’s student loan repayments. The reasons are obvious. Student loan debt is now the largest source of consumer debt after...more

Stinson LLP

IRS Approves Student Loan Repayment "Match" Under 401(k) Plan

Stinson LLP on

One of the clear trends in employee benefits involves companies offering assistance with their workforce's student loan repayments. The reasons are obvious. ...more

Polsinelli

IRS Issues New Guidance on Using 401(k) Plan Contributions to Reward Student Loan Repayments

Polsinelli on

For many employees, contributing to a retirement plan is often easier said than done. This is especially true for employees who enter the workforce with significant student loan debt. ...more

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