News & Analysis as of

Tax Credits 401k Tax Planning

Proskauer - Employee Benefits & Executive...

Eleventh Circuit Confirms Foreign Tax Credits Owned by Insurance Company Not “Plan Assets” of 401(k) Plan Under ERISA

In late October 2024, the United States Court of Appeals for the Eleventh Circuit ruled in Romano v. Hancock Life Insurance Company, F.4th 729 (11th Cir. 2024) that certain foreign tax credits that were generated as a result...more

Seyfarth Shaw LLP

Catching-Up on Catch-Up Contribution Changes

Seyfarth Shaw LLP on

New proposed regulations issued by The Department of Treasury and IRS provide guidance on the provisions related to catch-up contributions that were included under SECURE 2.0 Act of 2022 (“SECURE 2.0”)....more

Littler

Time to Reset Your Tax Clock

Littler on

While we may reset our clocks in March and November each year, every January 1 we reset our tax clocks. Here is a short list of what is changing: Social Security Wage Base Limit: $176,100...more

Allen Barron, Inc.

Those Above the Age of 50 Should Analyze Increased Tax Advantages of 401(k) Contributions in 2025

Allen Barron, Inc. on

Are you above the age of 50? Do you and/or your spouse have a 401(k)? Are you interested in reducing the amount you will have to pay in 2025 income taxes while increasing the amount of money you receive after retirement?...more

Woodruff Sawyer

2024 Compliance Hot Topics

Woodruff Sawyer on

Congratulations to everyone for successfully safely navigating your health plans out of the pandemic crisis. We will review some of the key 2024 compliance hot topics you should know about in this annual benefits legislative...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Push those tax credits

When prospecting potential clients that are considering a new 401(k) plan, push those tax credits if they qualify. The SECURE Act made some significant changes and upgrades, that they should be considered and discussed....more

Groom Law Group, Chartered

SECURE Act and Spending Bills – Impact on Plan Sponsors

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade, was enacted on December 20, 2019.  Many of the provisions in the...more

McNees Wallace & Nurick LLC

Recent Changes In Employee Benefits Law - What You Need To Know For 2020

In the past few months, we have seen significant changes to the laws governing employee benefits, from the new hardship withdrawal regulations for 401(k) participants, to the SECURE Act, to the new individual coverage health...more

Groom Law Group, Chartered

SECURE Act Requires Immediate Action by Plan Service Providers

Congress recently passed the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade.  Many of the provisions in the SECURE Act...more

Littler

SECURE Act Provides Sweeping and Immediate Changes to Retirement Plans

Littler on

On Friday, December 20, 2019, President Trump signed into law the Setting Every Community Up for Retirement Act of 2019 (the “SECURE Act”) as part of a spending bill to fund the government through September 30, 2020 (H.R....more

Lewitt Hackman

SECURE Act Creates Need for Estate Plan Review

Lewitt Hackman on

Congress recently passed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act, or the “Act”) implementing one of the most substantial pieces of retirement plan legislation in years, into law....more

Schwabe, Williamson & Wyatt PC

New Retirement Plan Legislation Enacted Into Law

On December 20, 2019, federal legislation approving spending limits for the 2020 fiscal year was signed into law. Included in the legislation is the Setting Every Community Up for Retirement Enhancement Act of 2019 (the...more

Hogan Lovells

Congress passes FY 2020 funding bill with tax benefits for energy, health care, and retirement plans

Hogan Lovells on

In a rare display of bipartisanship, after intense last minute negotiations between congressional leadership and the Executive Branch, President Donald Trump signed into law legislation passed last week by Congress to...more

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