News & Analysis as of

U.S. Treasury Retirement Plan 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

Groom Law Group, Chartered

IRS Finalizes (and Proposes More) Required Minimum Distribution Rules

At long last, the Treasury Department and the Internal Revenue Service (“IRS”) issued final (and new proposed) regulations that address the major changes to Code section 401(a)(9) under the Setting Every Community Up for...more

Williams Mullen

Treasury Issues Anticipated Relief for New Catch-up Contribution Rule

Williams Mullen on

The Internal Revenue Service (“IRS”) provided welcome relief for administrators of plans offering catch-up contributions. Notice 2023-62, issued on August 25, essentially delays the effective date of a provision under the...more

McDermott Will & Schulte

SECURE 2.0 Technical Corrections Are on the Way, Eventually

In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond. In an open letter to Secretary of the Treasury Janet Yellen and IRS Commissioner...more

McDermott Will & Schulte

Just Catching Up? Oops! Congress Clarifies Catch-Up Contributions Are Here to Stay

In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond. Section 603 of the SECURE 2.0 Act requires catch-up contributions made by...more

Faegre Drinker Biddle & Reath LLP

IRS Issues Interim Guidance on SECURE 2.0 Self-Correction Expansion

The IRS recently issued Notice 2023-43 (Notice) to provide interim guidance on Section 305 of SECURE 2.0 Act of 2022 (SECURE 2.0), which significantly expanded self-correction under the Employee Plans Compliance Resolution...more

Morgan Lewis - ML Benefits

New IRS Q&A Regarding EPCRS Expansion Answers Some – But Not All – Questions

The Internal Revenue Service (IRS) released Notice 2023-43 (Notice) on May 25, which provided guidance regarding the expansion of the IRS’s Employee Plans Compliance Resolution System (EPCRS) mandated by Section 305 of the...more

McDermott Will & Schulte

Proposed IRS RMD Regulations Present Challenges, Risks for 403(b) Plans

The Internal Revenue Service (IRS) is strategically working to execute the statutory changes that were outlined by the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) of 2019. However, the IRS’s efforts...more

Jackson Lewis P.C.

Guidance to Make Us Feel More SECURE

Jackson Lewis P.C. on

Notice 2020-68 from the IRS provides valuable clarification for sponsors of qualified plans, 403(b) plans, and 457(b) governmental plans, as well as IRA holders, related to certain provisions in the Setting Every Community Up...more

Husch Blackwell LLP

IRS Releases FAQs: Coronavirus-Related Relief For Retirement Plans And IRAs

Husch Blackwell LLP on

On May 4, 2020, the Internal Revenue Service (IRS) issued 14 FAQs on Section 2202 of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). As noted in a prior post, Section 2202 of the CARES Act generally...more

Eversheds Sutherland (US) LLP

Congress delivers SECURE and more in year-end benefits bonanza

On December 20, 2019, President Trump signed into law the Further Consolidated Appropriations Act, 2020 (the “Appropriations Act”), a comprehensive government funding bill that includes substantial employee benefits-related...more

Bass, Berry & Sims PLC

Trump Seeks to Ease Rules for Multiple-Employer Retirement Plans and Required Mandatory Withdrawals

Bass, Berry & Sims PLC on

On August 31, 2018, President Trump signed an executive order authorizing the U.S. Department of Labor (DOL) and the U.S. Department of the Treasury to evaluate expanding access to 401(k) retirement plans. The order is...more

Franczek P.C.

Employee Benefits Alert - July 2015

Franczek P.C. on

Major Revisions to Qualified Plan Determination Letter Process Announced - Effective January 1, 2017, the staggered five-year determination letter remedial amendment cycles for individually designed plans will be...more

King & Spalding

Mitigating Longevity Risk in DC Plans

King & Spalding on

401(k) participants face the risk of outliving retirement assets. However, earlier this month, the Internal Revenue Service and the Treasury Department issued final regulations that make it easier for 401(k) plans, individual...more

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