The Commissioner of Internal Revenue announced the 2024 dollar limitations for benefits and contributions that apply to retirement plans. The Social Security Administration increased the Social Security taxable wage base....more
11/3/2023
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Benefit Plan Sponsors ,
Contribution Limits ,
Employee Benefits ,
Health Savings Accounts ,
Individual Retirement Account (IRA) ,
IRS ,
Retirement Plan ,
Social Security Administration (SSA) ,
Threshold Requirements
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
8/31/2023
/ Benefit Plan Sponsors ,
Employee Benefits ,
Employee Contributions ,
Individual Retirement Account (IRA) ,
IRS ,
Plan Administrators ,
Retirement Plan ,
Roth IRA ,
SECURE Act ,
Time Extensions ,
U.S. Treasury
The Commissioner of Internal Revenue announced the 2023 dollar limitations for benefits and contributions that apply to retirement plans. The Social Security Administration increased the Social Security taxable wage base....more
This Alert is a quick reminder for retirement plan sponsors to be aware of two deadlines at the end of this month.
Restated Adoption Agreements for Pre-Approved Plans -
Employers using pre-approved plan documents for...more
The Commissioner of Internal Revenue announced the 2022 dollar limitations for benefits and contributions that apply to retirement plans. The Social Security Administration increased the Social Security taxable wage base....more
Employers using pre-approved plan documents for their defined contribution retirement plans, such as 401(k) plans, should carefully review restated adoption agreements and basic plan documents that may be issued by their...more
Last year, the Internal Revenue Service (IRS) and the Department of Labor (DOL) jointly offered extensions and other relief to employee benefit plan administrators who might be struggling to meet various filing, notice,...more
3/2/2021
/ Benefit Plan Sponsors ,
COBRA ,
Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
Disclosure Requirements ,
EBSA ,
Employee Benefits ,
Employer Group Health Plans ,
Filing Deadlines ,
Internal Revenue Code (IRC) ,
IRS ,
Relief Measures ,
Retirement Plan ,
Time Extensions
On March 20, the Treasury Department, the Internal Revenue Service (IRS), and the Department of Labor (DOL) announced a plan for implementing the new COVID-19 leave requirements and payment of tax credits for small and...more
The Commissioner of Internal Revenue announced the 2020 dollar limitations for benefits and contributions that apply to retirement plans. Most limits have increased, while a few remained the same. The Social Security...more
11/7/2019
/ Contribution Limits ,
Defined Benefit Plans ,
Employee Benefits ,
ESOP ,
Health Savings Accounts ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Retirement Plan ,
Small Employer Plans (SEPs) ,
Social Security Administration (SSA)
The Internal Revenue Service (“IRS”) recently issued guidance on two additional options for sponsors of qualified retirement plans to apply for and receive determination letters on the qualified status of their plans. The IRS...more
The Internal Revenue Service issued guidance last December to help employers that own or lease employer parking facilities or reimburse employees for parking expenses to navigate the recent change to the parking expense...more
1/28/2019
/ Employee Benefits ,
Fringe Benefits ,
Internal Revenue Code (IRC) ,
IRS ,
Parking Lots ,
Safe Harbors ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exempt Entities ,
U.S. Treasury ,
UBTI
The Internal Revenue Service recently updated the rollover notice provided to retirement plan participants who receive distributions. The Internal Revenue Code requires administrators of qualified retirement plans to provide...more
The Commissioner of Internal Revenue announced the 2019 dollar limitations for benefits and contributions that apply to retirement plans. Most limits have increased while a few remained the same. ...more
The Commissioner of Internal Revenue announced the 2018 dollar limitations for benefits and contributions that apply to retirement plans. Some limits have increased while others remained the same....more
The Commissioner of Internal Revenue announced the 2017 dollar limitations for benefits and contributions that apply to retirement and cafeteria plans. Some limits have increased while others remained the same. The Social...more
The Commissioner of Internal Revenue announced yesterday that the dollar limitations for benefits and contributions that apply to retirement plans generally will not change for 2016 because the increase in the cost-of-living...more