The IRS recently issued Notice 2024-73, which provides much-needed guidance on long-term, part-time (“LTPT”) employees in ERISA-governed 403(b) retirement plans. Following passage of the SECURE 2.0 Act, an employee is...more
10/16/2024
/ 401k ,
403(b) Plans ,
Compensation & Benefits ,
Effective Date ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
IRS ,
New Guidance ,
Part-Time Employees ,
Proposed Regulation ,
Retirement Plan ,
SECURE Act ,
Time Extensions
On August 25, 2023, the IRS issued Notice 2023-62 to address certain industry concerns over implementation of Section 603 of the SECURE 2.0 Act. Section 603 relevantly provides that, beginning in 2024, participants eligible...more
The IRS has extended additional deadlines for required retirement plan amendments, similar to the extensions we discussed last month found here. Notice 2022-45 extends the deadline for amending qualified retirement plans to...more
9/30/2022
/ 403(b) Plans ,
457(b) Plans ,
Benefit Plan Sponsors ,
CARES Act ,
Employee Benefits ,
Filing Deadlines ,
IRS ,
Pension Plan Amendments ,
Qualified Retirement Plans ,
Retirement Plan ,
SECURE Act ,
Time Extensions
The IRS has extended additional deadlines for required retirement plan amendments, similar to the extensions we discussed last month found here. Notice 2022-45 extends the deadline for amending qualified retirement plans to...more
9/30/2022
/ 403(b) Plans ,
457(b) Plans ,
Benefit Plan Sponsors ,
CARES Act ,
Employee Benefits ,
Filing Deadlines ,
IRS ,
Pension Plan Amendments ,
Qualified Retirement Plans ,
Retirement Plan ,
SECURE Act ,
Time Extensions
The IRS has issued a notice extending the deadline for retirement plan sponsors to make certain amendments required by recently passed legislation. Notice 2022-33 extends the deadline for amending qualified retirement plans...more