401k Internal Revenue Service

News & Analysis as of

Employee Benefits: IRS Issues Helpful Guidance Regarding Mid-Year Amendments To Safe Harbor Plans (2/16)

In Notice 2016-16, the Internal Revenue Service issued helpful guidance to employers that sponsor so-called safe harbor 401(k) and 403(b) plans. The guidance significantly expands the types of amendments that may be made to a...more

Most Midyear Safe Harbor Plan Amendments Now Allowed

Many employers offering a retirement plan utilize a safe harbor 401(k) plan for the convenience and level of security afforded to the employer by its use. However, until recently, the IRS has not expressly permitted...more

IRS Provides Welcome Guidance on Mid-Year Amendments to Safe Harbor 401(k) Plans

The IRS recently issued Notice 2016-16 (the “Notice”), which permits most mid-year amendments to safe harbor 401(k) plans.  This is welcome news to sponsors of safe harbor 401(k) plans who, prior to the issuance of the...more

IRS releases guidance on mid-year amendments to Safe Harbor 401(k) Plans

A few years back, an Internal Revenue Service (IRS) official opined that the IRS would not look favorably on safe harbor 401(k) plan making any amendments mid-year except in some circumstances such changing a trustee,...more

IRS Updates Guidance on Certain Midyear Changes to Safe Harbor Plans

The Internal Revenue Service (IRS) recently issued Notice 2016-16 (the Notice) to provide updated guidance as to when midyear changes to a safe harbor 401(k) plan or 403(b) plan will not violate applicable regulations....more

Safe! Mid-Year Changes to Safe Harbor Plans Permitted

The Internal Revenue Service recently issued long-awaited relief to sponsors of safe harbor 401(k) plans. For years, many employers have relied on various safe harbor plans designs to avoid generally applicable...more

February 2016 IRS Issues Notice on Midyear Changes to Safe Harbor Plans and Safe Harbor Notices

On January 29, 2016, the Internal Revenue Service (IRS) released Notice 2016 - 16 , which provides, effective immediately, significant relief with respect to the ability of a plan sponsor to make midyear changes to a safe...more

IRS Provides Flexibility for Mid-Year Amendment of Safe Harbor 401(k)/403(b) Plans

On January 29, 2016, the IRS issued Notice 2016-16, which provides much-needed guidance and flexibility for mid-year amendments to safe harbor plans. The notice provides that a mid-year amendment either to a safe harbor...more

IRS Significantly Liberalizes Permitted Mid-Year Changes to Safe Harbor Plans

On January 29, 2016, the IRS issued Notice 2016-16 that provides guidance on mid-year changes to a safe harbor plan under sections 401(k) and 401(m) of the Internal Revenue Code. The guidance provides that a mid-year change...more

IRS Provides New Guidance on Midyear Changes to Safe Harbor 401(k) Plans

If you read one thing... - The IRS has issued new guidance on midyear changes to a safe harbor plan under Code Sections 401(k) and 401(m) that addresses the requirement that plan provisions generally must remain in...more

IRS Relaxes Rules for Mid-Year Changes

Since its availability, many 401(k) plan sponsors, particularly smaller employers have adopted a “Safe Harbor” plan design under Code Section 401(k)(12) or (13) and 401(m)(11) or (12). Safe Harbor plan designs include both a...more

The ERISA Litigation Newsletter - January 2016

Editor's Overview - Happy New Year! Because 401(k) plans play an increasingly prominent role as an employee's principal retirement investment vehicle, fiduciaries overseeing those plans face increased pressure to see...more

The Rosenbaum Law Firm Review - December 2015

The Plan Sponsor Awakens. It's true, all of it. Like most of my generation, I have been a Star Wars fan since I first saw A New Hope when I was 5 in 1977. I even liked the prequel trilogy (except for Jar Jar Binks)....more

Does your retirement plan have an automatic contribution feature? Are you administering it correctly?

In an effort to further promote automatic contribution features in retirement plans such as employer sponsored 401(k) plans, the IRS issued Revenue Procedure 2015-28 earlier this year. 2015-28 provides corrections under the...more

Employee Benefits & Executive Compensation: Do You Need to Send an Annual Notice to Plan Participants?

Plan sponsors of defined contribution qualified plans may need to issue one or more annual notices to participants before the end of each plan year. Failure to issue a required annual notice can have significant consequences....more

IRS Retirement Plan Limitations for 2016

The Internal Revenue Service (IRS) has issued the new 2016 retirement plan limitations. In this announcement, the IRS sets forth the limits of the amounts that can be deferred under 401 (k) plans, 457 (b) plans and the...more

Nonqualfied deferred compensation plan update

In June 2015, the Internal Revenue Service released updated audit guidelines for nonqualified deferred compensation plans. Basically, audit guidelines are used by the IRS to communicate with the agents in the field who are...more

Employee Benefits Developments - October 2015

The Internal Revenue Service (IRS), consistent with prior regulations from the Department of Health and Human Resources (HHS), issued supplemental proposed regulations requiring employer sponsored health plans to provide...more

IRS Announces 2016 Retirement Plan Limitations – Most Limits Remain Unchanged

The Internal Revenue Service announced the 2016 cost-of-living adjustments to the dollar limitations for qualified retirement plans and other benefits, and the Social Security Administration announced its own cost-of-living...more

2016 Cost of Living Increases are Rare

On October 21, 2015, in Information Release 2015-118, the IRS announced cost-of-living adjustments to various dollar limitations under the Internal Revenue Code (the "Code") for pension plans and other related items for the...more

2016 Retirement Plan Contribution Limits

The IRS has issued the contribution and benefit limits in effect for 2016. Most of these limits remain the same as in 2015. The following chart details the compensation, contribution and benefit limits for 2016. All limits...more

2016 Cost-of-Living Adjustments for Retirement and Other Benefit Plans

The IRS recently announced the 2016 cost-of-living adjustments to various benefit and contribution limits applicable to retirement plans and welfare plans. Most retirement plan limits have not changed because increases in the...more

2016 Employee Benefits Plan Limits

The IRS has announced the retirement plan limits for 2016. As you can see from the chart below, there are no changes from the limits set in 2015. ...more

The Rosenbaum Law Firm Review - October 2015

Bundled vs. Unbundled 401(k) Plan Providers: The Choice Is Not Clear. Not an easy choice. In our lives, there are times when we have two important choices. It's Coke vs. Pepsi, Mac vs. PC, Xbox vs. PlayStation...more

IRS Annual Limits on Qualified Plans

The Internal Revenue Service (IRS) has released the 2016 cost of living adjustments affecting dollar limits on benefits and contributions under qualified retirement plans and health savings accounts, which are largely...more

129 Results
|
View per page
Page: of 6

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×