On Friday, Aug. 25, 2023, the IRS released Notice 23-62, which (i) clarifies that plan sponsors may continue to allow participant “age 50” catch-up contributions after Dec. 31, 2023, and (ii) delays implementation of the...more
This chart sets forth some of the annually adjusted dollar limits that impact employee benefits, as published by the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty...more
Annually, the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation adjust for cost-of-living increases certain limitations that impact employee benefit plans. These...more
Annually, the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation adjust for cost-of-living increases certain limitations that impact employee benefit plans. These...more
This chart sets forth some of the annually adjusted dollar limits that impact employee benefits, as published by the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation.
...more
11/12/2019
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Benefit Plan Sponsors ,
Corporate Counsel ,
Employee Benefits ,
Employer Contributions ,
IRS ,
PBGC ,
Retirement Plan ,
Social Security Administration (SSA)
The IRS has announced a limited expansion of its determination letter program. Beginning Sept. 1, 2019, the IRS will accept determination letter (“DL”) applications for individually designed merged plans....more
5/9/2019
/ Determination Letter ,
Employee Benefits ,
Hybrid Plan ,
IRS ,
Mergers ,
Public Comment ,
Required Amendments (RAs) ,
Retirement ,
Retirement Plan ,
Revenue Procedures ,
U.S. Treasury ,
Voluntary Correction Program
In guidance issued on April 19, 2019, the IRS expands the situations in which retirement plan sponsors can self-correct compliance failures without first having to seek IRS approval or paying a fee. Employers should be aware...more
4/29/2019
/ 403(b) Plans ,
457(b) Plans ,
Benefit Plan Sponsors ,
Employee Benefits ,
EPCRS ,
Filing Deadlines ,
Filing Requirements ,
Internal Revenue Code (IRC) ,
IRS ,
Retirement Plan ,
Revenue Procedures ,
Tax Audits ,
Tax Penalties ,
U.S. Treasury ,
Voluntary Correction Program
Annually, the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation adjust for cost-of-living increases certain limitations that impact employee benefit plans. These...more
As a resource, the Employee Benefits and Executive Compensation practice at Brownstein Hyatt Farber Schreck prepares a chart identifying the annual adjustments to the dollar limitations that impact employee benefits.
...more
Periodically, the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation adjust for cost-of-living increases certain limitations that impact employee benefit plans. These...more
The Genetic Information Nondiscrimination Act (GINA) restricts employers from requesting or requiring employees to disclose genetic information. A narrow exception allows an employee to voluntarily accept health services...more
The Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation periodically adjust for cost-of-living increases certain limitations that impact employee benefit plans. These...more
The increased use of electronic medical records and breaches of that data by computer hackers or handling errors by insurers and providers has increased medical identity theft in recent years. This increase reemphasizes the...more
The Mental Health Parity rules require group health plans that offer mental health and substance use disorder benefits to cover those benefits on terms that are no more restrictive than those applied to comparable medical and...more
Health care reform imposed on all health plans a Transitional Reinsurance Fee (TRF) for three years— 2014 through 2016. For 2015 and 2016, there is an exemption from the TRF program for self-insured plans that self-administer...more
The Trust's business associates who perform electronic transactions on its behalf are required to follow certain HIPAA standards and operating rules. A recently published proposed rule introduces a new requirement to submit...more