Introduction The General Pension and Social Security Authority (GPSSA) recently introduced a significant change in the pension landscape through Federal Decree-Law No. 57 of 2023 on Pension and Social Security. This legal...more
The Internal Revenue Service recently announced 2024 dollar limits for qualified retirement plans (including 401(k) plans), deferred compensation plans, and health and welfare plans. Adjustments to certain limits are based on...more
If so, you may need to do so by December 1, 2023. Our Employee Benefits & Executive Compensation Group reviews the multiple year-end notices that defined contribution plans must issue to participants....more
I saw a recent article by Matthew Breunig, suggesting that instead of cutting Social Security, we should end the tax breaks for 401(k) plans. He claims that the tax advantage of IRAs and defined contribution plans is $371...more
Late last year, the IRS confirmed the widely expected cost-of-living adjustments to the various dollar limitations applicable to qualified retirement plans for 2022. Here are a few of the changes outlined in Notice 2021-61. ...more
Federal agencies recently announced cost-of-living adjustments on Social Security taxable earnings and maximum benefits, limits on compensation and deferrals for retirement plans, and limits on health and welfare plans....more
Happy Holidays! Employee benefits limits for 2021 have been promulgated by the government. ...more
Please see full Chart below for more information....more
Cambodia’s adoption of the Law on Social Security Schemes dated November 2, 2019, will extend social security provisions to cover unemployment and roll out pension coverage to the private sector....more
Hiding in plain sight is a simple, low-cost, and effective tool to meaningfully increase retirement income: newbie retirees should live off their 401(k), individual retirement account (IRA), or other savings and delay taking...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 Internal Revenue Service (IRS) on November 6, 2019 announced the following cost of living inflation adjusted dollar limits applicable to tax-qualified plans and other benefit plans for 2020...more
The Internal Revenue Service and Social Security Administration have announced the benefit plan and employment tax limits for 2020. Certain limitations will not change for 2020 because they are not subject to annual...more
It’s that time of year again. On November 6, 2019, the Internal Revenue Service (IRS) announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for the 2020 tax...more
In Notice 2008-59, the IRS provided certain limited exceptions to its previously stated general position that employers may not recoup any portion of the employer’s contribution to an HSA. Specifically, Notice 2008-59...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 and Social Security Administration have announced the various retirement plan benefit and employment tax limits for 2019. Certain limitations will not change for 2019 because they are not subject...more
IRS Annual Limits on Qualified Plans for 2019 By Jeffrey P. Cairns - The Internal Revenue Service has released the 2019 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified...more
Strengthening of Company Pension - Only around 60% of employees in Germany have a company pension plan, which they use to provide for retirement in addition to the statutory pension. This is set to change from January 1,...more
Members of Saul Ewing Arnstein & Lehr’s Tax and Employee Benefits and Executive Compensation Practices have outlined the recently announced 2018 dollar limits on the Social Security Wage Base, compensation and deferrals for...more
The Internal Revenue Service and Social Security Administration have announced cost-of-living adjustments to the dollar limits on contributions made to, and benefits under, tax-favored retirement and benefits plans, and other...more