News & Analysis as of

Retirement Plan 401k Inflation Adjustments

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Bad times means more hardships

With high inflation and an economy that might be in a recession, it is no shock that hardship distributions are on the rise. About 0.5% of employers participating in 401(k) plans made a “hardship” withdrawal in October,...more

Proskauer - Employee Benefits & Executive...

IRS Announces 2023 Increases to Qualified Retirement Plan Limits

On October 21st, the IRS released a number of additional inflation adjustments for 2023, including to certain limits for qualified retirement plans. Perhaps most notably, the annual limit for pre-tax and Roth contributions...more

Mintz

401(k) Limits Reflect Inflation

Mintz on

The Internal Revenue Code (the "Code") imposes contribution limits on "qualified plans," a term that encompasses 401(k) plans and other less commonly-known retirement plans. The Code also provides a mechanism to adjust for...more

McDermott Will & Emery

Weekly IRS Roundup October 17 – October 21, 2022

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 17, 2022 – October 21, 2022...more

Robins Kaplan LLP

Financial Daily Dose 12.20.2019 | Goldman nearing $2B deal with DOJ to resolve 1MDB scandal claims

Robins Kaplan LLP on

Goldman Sachs is reportedly in negotiations with federal prosecutors to resolve claims about its role in the Malaysian 1MDB scandal for upwards of $2 billion. A settlement—which “could include a guilty plea from Goldman’s...more

Dentons

IRS Releases Inflation Adjustments for 2016

Dentons on

Each year, the IRS calculates cost of living and inflation adjustments and determines how much certain limits and thresholds should be adjusted, if at all, for the upcoming tax year. The IRS released Revenue Procedure 2015-53...more

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