A tax-exempt employer that maintains a deferred compensation plan under Section 457(b) of the Internal Revenue Code may need to take immediate action to ensure that the plan is amended by Dec. 31, 2022 to incorporate certain...more
As we approach the end of 2021, it is a good time to review upcoming year-end plan amendment deadlines applicable to retirement plans. Employers should review their plans with their providers and advisers to determine if any...more
On Dec. 27, 2020, President Trump signed into law the Consolidated Appropriations Act of 2021 and the COVID-Related Tax Relief Act of 2020 (collectively, the Act). In addition to the annual appropriation provisions and...more
Temporary Relief from Physical Presence Requirements for Spousal Consent -
Under the Internal Revenue Code (Code), certain elections under retirement plans require the consent of a participant’s spouse....more
The Internal Revenue Service (IRS) has issued guidance extending two imminent deadlines for plan sponsors utilizing IRS pre-approved plan documents for Internal Revenue Code (Code) Section 403(b) plans and defined benefit...more
The Internal Revenue Service recently announced the dollar limitations for pension plans and other items beginning January 1, 2018. Some of the limits are listed below....more