The IRS recently issued a set of Frequently Asked Questions in Fact Sheet 2024-19, which address the special rules for distributions and plan loans for certain individuals impacted by major federally declared disasters under...more
The Internal Revenue Service (IRS) recently extended relief with respect to certain post-death required minimum distributions (RMDs) under Internal Revenue Code Section 401(a)(9)....more
The SECURE 2.0 Act of 2022 makes far-ranging changes to the US employer-retirement plan system. This LawFlash—one in a series—more closely examines the act’s provisions that expand and encourage retirement plan participation....more
The US Internal Revenue Service (IRS) recently issued Revenue Procedure 2022-40 to expand the IRS’s determination letter program to include individually designed 403(b) plans. Previously, the IRS’s determination letter...more
In response to confusion regarding the “10-Year Rule” that was added to the required minimum distribution (RMD) rules by the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), the US Internal...more
As described in our prior blog post, the US Internal Revenue Service (IRS) recently extended many impending amendment deadlines for legislative changes made by the Setting Every Community Up for Retirement Enhancement Act of...more
The Internal Revenue Service (IRS) provided a late summer gift to retirement plan sponsors by extending some year-end plan amendment deadlines. In Notice 2022-33, the IRS extended the remedial amendment deadlines for certain...more
While considering year-end tasks and planning for the upcoming year, qualified plan sponsors should think about whether they need to revise and/or reissue their summary plan descriptions (SPDs) in 2022....more
The Internal Revenue Service (IRS) made important changes to the Employee Plans Compliance Resolution System (EPCRS) in Revenue Procedure 2021-30 that are helpful for plan sponsors as they expand the ability of plan sponsors...more
7/22/2021
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Plan sponsors have been granted limited relief to bring cash balance interest crediting rates into compliance.
On September 18, the Internal Revenue Service (IRS) published final and proposed regulations for cash...more
Guidance provides temporary relief from the August deadline for annual disclosures by participant-directed plans.
On July 22, the U.S. Department of Labor (DOL) issued Field Assistance Bulletin 2013-02 (the Bulletin),...more
Advisory opinion on "plan asset" issue lays out factors for fiduciary consideration.
On July 3, the U.S. Department of Labor (DOL) issued Advisory Opinion 2013-03A, which discusses whether a bookkeeping account for...more
New rules signal relief for financially sound plans and plan sponsors and are consistent with PBGC's section 4062(e) enforcement policy for "plant shutdown" liability....more
American Taxpayer Relief Act extends the existing, limited in-plan Roth conversion option to all amounts under plans that allow elective deferrals, including those amounts not yet eligible for distribution.
The American...more
New provisions for correcting operational and plan document errors take effect on April 1.
On December 31, 2012, the Internal Revenue Service (IRS) updated its Employee Plans Compliance Resolution System (EPCRS) through...more