Updated 401(k) and 403(b) Requirements for Long-Term Part-Time Employees. Starting in 2025, 401(k) and 403(b) retirement plans must offer the plan’s salary deferral feature to long-term part-time employees who are at least...more
On April 16, 2024, the IRS released Notice 2024-35, extending the previously provided temporary relief from certain required minimum distribution (RMD) requirements for beneficiaries under qualified defined contribution plans...more
Section 603 of the SECURE 2.0 Act of 2022 (SECURE 2.0) requires that catch-up contributions for individuals whose wages exceed $145,000 are subject to mandatory Roth tax treatment effective as of January 1, 2024. Due to the...more
The Setting Every Community Up for Retirement Enhancement 2.0 Act of 2022 (SECURE 2.0) was enacted in December 2022 as part of the year-end omnibus spending bill. Even though several provisions were effective in 2023, the...more
8/23/2023
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