Retirement Plan

News & Analysis as of

IRS Announces Employee Benefit Plan Limits for 2015

Recently the Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the...more

IRS Announces Cost-of-Living Adjustments for Employee Benefit Plans

The Internal Revenue Service has announced cost-of-living increases applicable to annual limits for employee benefit plans, including pensions, 401(k), 403(b), 457(b), and welfare plans for 2015. Employers should make sure...more

The Rosenbaum Law Firm Review

Plan sponsors should replace the Bad Plan Decision Makers. It's time for them to go. If your company's retirement plan got into some trouble because the powers that be who run the plan (whether it's the C.E.O.,...more

IRS Announces 2015 Cost-of-Living Increases in Dollar Limits for Retirement Plans

On October 23, 2014, the IRS announced the 2015 cost-of-living increases applicable to the dollar limits for retirement plans. The annual limit for elective deferrals to 401(k) and 403(b) plans will increase from $17,500 to...more

2015 Retirement Plan Contribution Limits - Revised

On October 23, 2014, the Internal Revenue Service announced the 2015 cost-of-living adjustments to the contribution limits and other amounts applicable to various retirement plans. Those amounts are set forth below. Please...more

IRS Announces 2015 Dollar Limits for Employee Benefit Plans

The IRS has announced the new dollar limits for contributions and benefits in retirement and certain deferred compensation plans for 2015. The new limits are the result of the application of statutory cost-of-living...more

Alert: IRS Announces Adjusted Plan Limits for 2015

Adjusted Limits - The Internal Revenue Service has announced the 2015 limits that affect the operation of tax-qualified retirement plans, including 401(k) plans, and certain other types of employee benefit plans,...more

2015 Cost-of-Living Adjustments for Retirement and Other Benefit Plans

Retirement Plan Limits - The following limits apply to retirement plans in 2015: - The limit on elective deferrals under 401(k) and 403(b) plans has increased to $18,000 in 2015. - The annual limit on...more

Benefit and Contribution Limits for 2015

The Commissioner of Internal Revenue has adjusted the dollar limitations for benefits and contributions that apply to retirement plans. The Social Security Administration has also increased the Social Security taxable wage...more

IRS Announces 2015 Benefit Plan Limits

The Internal Revenue Service has released the 2015 cost of living adjustments affecting dollar limits on benefits and contributions under qualified retirement plans....more

IRS Simplifies Rules for Participants in Canadian Plans – Or Does it?

Under the US-Canada Income Tax Treaty, U.S. taxpayers who participate in Canadian registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs) (the Canadian Plans) are not required to pay tax on...more

Tax Law Blog: 2015 Retirement Plan Limits Announced

Every year, about this time, the IRS calculates the cost of living increases, and determines whether the change is enough to trigger an adjustment to the statutory limit/threshold for various areas, including retirement...more

How to Maximize Value out of Your DC Plan – Consider These (Non-Decumulation) Strategies (Part IV)

In Part II and III of this series, we focused on how decumulation strategies can increase DC plan value. In this Part IV, our final instalment in this series, we will focus on other methods through which DC plan value can be...more

Retirement Plan Sponsors Should Know Their Role as Plan Fiduciaries

I love professional wrestling and I’m not afraid to admit. Yes, I know it’s not real just like I know the Ewings don’t live on Southfork Ranch. Maybe it’s in my blood since both of my grandfathers watch it, but I find the...more

IRS Permits Puerto Rico-Qualified Plans in U.S. Group Trusts, Extends Deadline for Certain Puerto Rico Spin-Offs

The U.S. Internal Revenue Service (IRS) recently issued Revenue Ruling 2014-24, which expressly permits retirement plans that are tax qualified only in Puerto Rico (Puerto Rico-only plans) to continue to pool assets with...more

Being a long term Plan Provider can be a bad thing too

Being a long time plan provider for a client can be a good thing and it can be a bad thing. While having a long time base of clients is great for business and indicative of client satisfaction, it can be a bad thing too....more

Plan sponsors should replace the bad Bad Plan Decision Makers

If your company’s retirement plan got into some trouble because the powers that be who run the plan (whether it’s the C.E.O., human resources director, or retirement plan committee) took their eye off the plan, it may be a...more

Limiting Plan Sponsor Liability: The Board Game

After the downstairs play area was rebuilt after Hurricane Sandy, my wife went on a toy-buying spree to replace the board games we lost thanks to the five feet of water. My wife loves board games and the kids do too. Having...more

Reasonable Fee Issues for Fiduciaries on the Horizon

The Supreme Court is poised to address whether fiduciaries' decisions—especially in using fee sharing arrangements—are subject to deference when challenged. The Eighth and Ninth Circuit courts recently decided these issues,...more

Advisors Advantage - October 2014

Dumb Mistakes that 401(k) Financial Advisors Should Avoid - Stuff to think about. We all make mistakes, well except my mother. There are mistakes we make that we think are pretty good in hindsight, but end up...more

Read the 5500 before E-Filing It.

Now is the time that plan sponsors who are on extension to file their Form 5500 should be receiving them via email from their third party administrator (TPA). While plan sponsors just immediately file them to get it...more

Lies That Prospective Retirement Plan Providers May Tell You

When we were children, our mothers told us stories that we believed to be true because we always believed what our parents were telling us was the truth. Part of growing up is realizing that a good chunk of what your mom told...more

IRS Simplifies Procedures for Favorable Tax Treatment on RRSPs and RRIFs

The IRS has finally made it much easier for taxpayers who hold interests in either of two popular Canadian retirement plans—registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs)—to get...more

Does your Company’s Retirement Plan Need to be Restated?

Between May 1, 2014 and April 30, 2016, all pre-approved defined contribution plans (e.g. most 401(k), profit sharing, money purchase and other qualified plans) must be restated to reflect the provisions of the Pension...more

Tax Prepayment Window Closes on October 31, 2014, for Puerto Rico Retirement Plans

On July 1, 2014, Puerto Rico adopted new legislation (Tax Act 77), which provides a window from July 1, 2014 – October 31, 2014, for participants in Puerto Rico retirement plans to prepay at reduced rates Puerto Rico income...more

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