PODCAST: Recruiting and Retention: Can Your 401K Make a Difference?
The IRS has announced increased annual limits for retirement and other benefit plans for 2024. While the increases for 2024 are smaller than we’ve seen in prior years, they still may have a significant impact on plans and...more
The IRS has announced the 2024 annual dollar limitations for retirement plans based on the applicable cost-of-living adjustment guidelines, with increases in many of the limits. The annual limit for elective deferrals to...more
On November 1, 2023, the 2024 calendar year cost-of-living adjustments to the contribution and compensation limits for tax-qualified retirement plans were released by the Internal Revenue Service (IRS) in Notice 2023-75....more
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
Untreated mental health challenges can have a direct impact on how well employees perform at work—and the number of employees affected is rising. In 2021, 48% of employees said their mental health affected their work. That...more
The October Monthly Minute highlights a class action that hinges on deficient COBRA notices, the new 2023 benefit plan limits, and a case that held the benefit plan provisions in effect at the time of a claim denial control....more
The Internal Revenue Service (IRS) has announced 2023 dollar limits on benefits, contributions, and compensation. The Internal Revenue Code (Code) affords tax benefits for employers that sponsor qualified plans and for...more
The IRS has announced the 2023 annual dollar limitations for retirement plans based on the applicable cost-of-living adjustment guidelines, with increases in many of the limits. The annual limit for elective deferrals...more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 8, 2022 – May 14, 2022... May 10, 2022: The IRS issued a news release, announcing that free...more
The Internal Revenue Service released the cost-of-living adjusted qualified retirement plan limitations effective January 1, 2022. For ease of reference and comparison to prior years, we have placed the adjusted limitations...more
On November 4, 2021 the Internal Revenue Service announced the cost-of-living adjustments for the various qualified retirement plan limits. The vast majority of the limits shown below have increased from last year....more
On April 7, 2021, the U.S. Department of Labor (DOL) issued eagerly anticipated guidance on administering COBRA subsidies under the American Rescue Plan Act of 2021 (ARPA). The guidance includes Frequently Asked Questions...more
On June 19, 2020, the Internal Revenue Service (IRS) issued Notice 2020-50 (the Notice) to provide guidance on coronavirus-related distributions, increased plan loan limits, and deferment of plan loan repayments allowed...more
In light of the current COVID-19 health care crisis, employers are considering numerous options in the face of closed businesses and reduced income. These considerations include reducing employee work hours, furloughing...more
The Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law late last month and makes significant positive changes impacting retirement plans. Many of the provisions are effective today, so...more
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2020. Many...more
The New Jersey Legislature appears poised to pass S67, the Portable Benefits Act for Independent Contractors, in the upcoming lame-duck session. If passed, the Governor is expected to sign the bill before the end of the year....more
On this joint edition of Williams Mullen's Benefits Companion and GovCon Perspectives podcasts, Brydon DeWitt is joined by special guest Carl Grund, a financial advisor with Signature Financial Partners in Tysons, Va. Brydon...more
Given that a variety of qualified retirement deadlines are approaching, we thought a refresher on the subject would be helpful, especially for plans that utilize a calendar plan year. This article is intended to alert plan...more
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2019. ...more
The Internal Revenue Service (IRS) has released the 2019 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. ...more
The IRS has announced the 2019 dollar limitations for retirement plans based on the applicable cost-of-living adjustment guidelines. The annual limit for elective deferrals to 401(k) and 403(b) plans will increase from...more
Topics include - - Conducting an internal audit of your benefit plans - Understanding health plan employer shared responsibility assessments - Correcting failures in qualified and non-qualified plans - Reviewing...more
Since 2016, the Internal Revenue Service Tax Exempt and Government Entities Division (TE/GE) has followed a practice of posting “issue snapshots” – technical summaries of tax issues provided for reference purposes – from time...more
Whether A Plan Sponsor Should Hire An ERISA §3(16) Administrator. It's not for every plan. Running a business is a complicated activity. You have to be an expert in your field, service, or specialty. In order to get your...more