The Internal Revenue Service (IRS) recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2024. Certain health and welfare plan limits...more
11/2/2023
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Defined Benefit Plans ,
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Employee Benefits ,
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IRS ,
Popular ,
Qualified Benefit Plans ,
Qualified Retirement Plans ,
Retirement ,
Retirement Plan
Join partners from McDermott’s Employee Benefits team as they discuss the impact of the recently passed SECURE 2.0 Act of 2022. With over 90 changes to retirement plans and individual retirement accounts (IRAs), this webinar...more
1/13/2023
/ 401k ,
403(b) Plans ,
Automatic Enrollment ,
Consolidated Appropriations Act (CAA) ,
Continuing Legal Education ,
Defined Benefit Plans ,
Early Retirement Distributions ,
Employee Benefits ,
Employee Contributions ,
Employer Contributions ,
Hardship Distributions ,
Health and Welfare Plans ,
Individual Retirement Account (IRA) ,
Required Minimum Distributions ,
Retirement ,
Retirement Funds ,
Retirement Plan ,
Retirement Plan Providers ,
Roth IRA ,
SECURE Act ,
Student Loan Benefit Programs ,
Webinars
The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social...more
10/21/2022
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Benefit Plan Sponsors ,
Cost-of-Living Adjustment (COLA) ,
Employee Benefits ,
Employees ,
ESOP ,
Flexible Spending Accounts ,
Health and Welfare Plans ,
HSA ,
IRS ,
Open Enrollment ,
Retirement Plan ,
Social Security Administration (SSA)
The Internal Revenue Service recently issued questions and answers regarding the special distribution, rollover and loan provisions for tax-qualified retirement plans under the Coronavirus Aid, Relief and Economic Security...more
The SECURE Act, signed into law on December 20, 2019, is the broadest piece of retirement legislation passed in 13 years. It aims to enhance and expand retirement security for more Americans, in part, by encouraging plan...more
1/15/2020
/ 401k ,
Benefit Plan Sponsors ,
Compensation & Benefits ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Retirement Plan Providers ,
SECURE Act ,
Webinars
The SECURE Act—the most significant piece of retirement plan legislation in more than a decade—is now law. Plan sponsors should immediately start considering how changes included in the SECURE Act could impact their...more
1/8/2020
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Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Benefits ,
Health and Welfare Plans ,
Multiemployer Plan ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Safe Harbors ,
SECURE Act
The Treasury Department and the IRS recently finalized new hardship distribution rules applicable to defined contribution plans. Plan sponsors should prepare for operational changes to comply with the new regulations,...more
11/13/2019
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403(b) Plans ,
Benefit Plan Sponsors ,
Bipartisan Budget Act ,
Employee Benefits ,
FEMA ,
Final Rules ,
Hardship Distributions ,
IRS ,
New Rules ,
Plan Documents ,
Qualified Retirement Plans ,
Retirement Plan ,
Safe Harbors ,
U.S. Treasury
The IRS recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2020. Nearly all of the dollar limits currently in effect for 2019 will...more
11/7/2019
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Compensation & Benefits ,
Contribution Limits ,
Cost-of-Living Adjustment (COLA) ,
Defined Benefit Plans ,
Employee Benefits ,
Health Savings Accounts ,
IRS ,
Popular ,
Retirement Plan ,
Summary Plan Description
Diane M. Morgenthaler and Jeffrey M. Holdvogt recently presented the webinar “Student Loan Benefits and Other 401(k) Developments” at the Worldwide Employee Benefits Network Chicagoland program. In the presentation, they...more
QUALIFIED PLANS -
Student Loan Repayment Benefits -
? Qualified plan benefit tied to student loan debt repayment
? Special rules apply to these benefits when they are connected to the 401(k) plan
? IRS Private Letter...more
3/15/2019
/ 401k ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Employee Benefits ,
Fiduciary Duty ,
Healthcare ,
IRS ,
PBGC ,
Private Letter Rulings ,
Proposed Legislation ,
Qualified Health Plans ,
Student Loans
On Friday, August 17, 2018, the IRS released a private letter ruling (PLR) which will help clear the way for employers to provide a new type of student loan repayment benefit as part of their 401(k) plans. By issuing the PLR,...more
On August 17, 2018, the IRS released a private letter ruling which will help clear the way for employers to provide a new type of student loan repayment benefit as part of their 401(k) plans. This ruling is important because...more
The Tax Cuts and Jobs Act made significant changes to the tax code and will have a significant impact on businesses and individual taxpayers. However, although initial proposals included potentially significant changes to...more
1/3/2018
/ 401k ,
457(b) Plans ,
Benefit Plan Sponsors ,
Individual Retirement Account (IRA) ,
IRA Rollovers ,
Natural Disasters ,
New Legislation ,
Retirement Plan ,
Roth IRA ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Tax Relief
The Internal Revenue Service (IRS) recently issued Notice 2016-16, which provides safe harbor 401(k) plan sponsors with increased flexibility to make mid-year plan changes. Notice 2016-16 sets forth new rules for when and...more
The U.S. Department of Labor (DOL) recently issued guidance providing defined contribution plan administrators with additional flexibility on the timing requirements for distribution of the required annual fee disclosure to...more
The Internal Revenue Service (IRS) recently announced cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans for 2014. Although many dollar limits currently in...more