Retirement Plan Benefit Plan Sponsors Internal Revenue Service

News & Analysis as of

Did Your Company Fail to Adopt a New Preapproved Defined Contribution Plan by the April 30th Deadline? The IRS Has a Solution for...

Background - Sponsors of preapproved defined contribution retirement plans were generally required to sign new plan documents on or before April 30, 2016 that incorporated changes required by the Pension Protection Act...more

The Rosenbaum Law Firm Review - May 2016

The New Fiduciary Rule: What It Means To Plan Sponsors - Bottom line: what does it mean? If you're a retirement plan sponsor and, unless you've been living under a rock, you've probably heard about the Department...more

IRS: Don’t Answer All the 5500 Questions!

The 2015 Form 5500 added some new optional compliance questions for the 2015 Forms 5500 and 5500-SF. In December 2015, the IRS issued frequently asked questions on the new compliance questions and strongly encouraged plan...more

The Rosenbaum Law Firm Review - March 2016

Things About Plan Providers That Shouldn't Impress Plan Sponsors. Don't get bamboozled. There are certain things in life we really should be impressed by, but we always end up being impressed by the wrong...more

The End of an Era—IRS Issues Additional Guidance on End of Determination Letter Application Program

In 2015, the Internal Revenue Service (IRS) announced changes to its existing determination letter program, namely that the staggered remedial amendment cycle for individually designed retirement plans would end effective...more

IRS Expands Ability of Safe Harbor Plan Sponsors to Make Mid-Year Changes

The Internal Revenue Service (IRS) recently issued Notice 2016-16, which provides safe harbor 401(k) plan sponsors with increased flexibility to make mid-year plan changes. Notice 2016-16 sets forth new rules for when and...more

New Guidance From IRS Provides Mid-Year Changes To Safe Harbor 401(k) Plans

Prior to the Internal Revenue Services' (IRS) recent issuance of Notice 2016-16 (the Notice), employers that sponsored safe harbor 401(k) retirement plans were uncertain about whether any mid-year changes to their plans would...more

At Last . . . My Safe Harbor Guidance Has Come Along

At last . . . the Internal Revenue Service (IRS) finally provides mid-year safe harbor guidance. Etta James’s legendary cover of that song is fitting considering the many years that employers have waited to receive this...more

IRS Proposes Nondiscrimination Testing Relief for Closed Pension Plans

In order for its participants to receive favorable tax treatment, a “qualified” retirement plan must satisfy various requirements, including ensuring that it benefits a nondiscriminatory cross-section of employees rather than...more

Good News for Safe Harbor Plan Sponsors: The IRS Will Allow Mid-Year Changes

On January 29, 2016, the Internal Revenue Service issued guidance on mid-year changes to safe harbor plans under Internal Revenue Code Sections 401(k), and 401(m). Notice 2016-16 significantly expands the permissible mid-year...more

2016 Benefit Limits

The IRS updated very few of the retirement plan limits effective for the plan year that begins on or after January 1, 2016. A comparison of the 2016 and 2015 limits is listed below. Please see full alert below for more...more

You Probably Don’t Need a Year-End Plan Amendment to Reflect the Supreme Court’s Same-Sex Ruling

If you’re worried that the U.S. Supreme Court’s ruling on same-sex marriage last summer might require a year-end amendment to your employee benefit plans,you have the paranoia of an ERISA attorney. You’re also in luck because...more

2016 Plan Contribution and Compensation Limits; Medicare COLA to Remain the Same

In October, two newly released guidances from the Internal Revenue Service (IRS) and Social Security Administration confirm that the United States cost of living did not increase enough to warrant a cost-of-living adjustment...more

IRS Announces 2016 Retirement Plan Dollar Limits

The IRS recently announced cost of living adjustments for 2016. In general, the dollar limitations for retirement plans remained the same. The key dollar amounts are noted below, all of which remain unchanged from 2015....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

Key IRS Benefit and Contribution Limits to Remain Unchanged in 2016

On October 21, 2015, the Internal Revenue Service (IRS) announced the cost-of-living adjustments impacting tax-qualified pension plans for 2016. The increase in the cost-of-living index did not meet the statutory thresholds...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 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

Alert: IRS Announces Adjusted Plan Limits for 2016

The Internal Revenue Service has announced the 2016 limits that affect the operation of tax-qualified retirement plans, including 401(k) plans, and certain other types of employee benefit plans, including deferred...more

IRS Announces 2016 Dollar Limitations for Retirement Plans

On October 21, 2015, the IRS announced the 2016 dollar limitations for retirement plans based on the applicable cost-of-living adjustment guidelines. The retirement plan limitations generally will not change for 2016 because...more

IRS Releases Inflation Adjustments for 2016

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

IRS Announces Employee Benefit Plan Limits for 2016

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

Benefit and Contribution Limits for 2016

The Commissioner of Internal Revenue announced yesterday that the dollar limitations for benefits and contributions that apply to retirement plans generally will not change for 2016 because the increase in the cost-of-living...more

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