News & Analysis as of

Defined Benefit Plans Internal Revenue Service Individual Retirement Account (IRA)

Schwabe, Williamson & Wyatt PC

Using a Defined-Benefit Plan for Business Succession Planning Purposes

Despite their reputation, traditional defined-benefit (pension) plans can be a valuable tool for small-business succession planning. Defined-benefit pension plans are often associated with unions and financial mismanagement...more

Eversheds Sutherland (US) LLP

Three cheers for three years: IRS extends deadlines for SECURE and CARES amendments

​​​​​​​The IRS has extended the deadline for adopting qualified retirement plan and IRA amendments to reflect changes made by the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), the Bipartisan...more

Proskauer - Employee Benefits & Executive...

IRS Extends Participant Eligibility for Distributions and Loans Under the CARES Act

In Notice 2020-50, the IRS expanded eligibility for CARES Act distributions and loans, and provided additional guidance. To recap, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) added three types of...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

2020 Limits Announced

As I’m sure you heard, the Internal Revenue Service released their 2020 Cost of Limit Adjustment limits for qualified plans and individual retirement accounts. The salary deferral limit for participants in 401(k), 403(b),...more

Ward and Smith, P.A.

Retirement Plan Contribution Limits Will Increase in 2020

Ward and Smith, P.A. on

The Internal Revenue Service announced on Wednesday, November 6, that several contribution limits in qualified retirement plans will increase next year. The IRS announced the increases as part of an annual adjustment for...more

BCLP

IRS Releases 2020 Adjusted Qualified Plan Limitations

BCLP on

The Internal Revenue Service released the cost-of-living adjusted qualified retirement plan limitations effective January 1, 2020. For ease of reference and comparison to prior years, we have placed the adjusted limitations...more

Seyfarth Shaw LLP

You Can Save More in Your 401(k) in 2020

Seyfarth Shaw LLP on

Seyfarth Synopsis: Many of the limitations that apply to tax-qualified plans, including 401(k) plans, are subject to cost-of-living increases. The IRS just announced the 2020 limits. 401(k) plan contribution limits are...more

Williams Mullen

Benefit and Contribution Limits for 2020

Williams Mullen on

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

Ruder Ware

2020 Qualified Plan Cost of Living Increases, 2020 Social Security Taxable Wage Base

Ruder Ware on

Please be advised that contacting Ruder Ware by e-mail does not create an attorney-client relationship. If you contact the firm by e-mail with respect to a matter where the firm does not already represent you, any information...more

Fox Rothschild LLP

For Your Benefit- Fall-2018

Fox Rothschild LLP on

After a long period of relative stability enjoyed by sponsors of qualified retirement plans, several significant modifications have been made by the Bipartisan Budget Act of 2018 (Act), following closely on the heels of...more

Williams Mullen

Selecting the Best Retirement Plan for Your Practice

Williams Mullen on

An independent physician practice that does not have access to a hospital’s retirement plans has several retirement plan options to consider. Doctors who are employed by hospitals will usually be able to participate in the...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

Franczek P.C.

Monthly Benefits Update - December 2014

Franczek P.C. on

Illinois Becomes the First State to Require Automatic Retirement Savings Program for Workers Without Access to a Workplace Retirement Plan - On January 5, 2015, outgoing Governor Quinn signed landmark legislation that...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

Mintz - Employment, Labor & Benefits...

Retirement and Pensions Update - Janurary 2, 2013

In This Update: Fiscal Cliff Deal Includes Provisions on Charitable Contributions and Roth Roll Overs; PBGC Testifies in Subcommittee Hearing on Multiemployer Plans; IRS Updates Retirement Plan Rules for Hurricane...more

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