Employees increasingly request (and expect) choice in their benefits. The Internal Revenue Service (IRS) recently released Private Letter Ruling 202434006 (PLR), which approved an employer's program allowing employees to...more
The Internal Revenue Service and U.S. Department of Labor recently issued guidance on various aspects of the Consolidated Appropriations Act of 2023, commonly referred to as SECURE 2.0. Below is a summary of key provisions...more
2/14/2024
/ 401k ,
403(b) Plans ,
Automatic Enrollment ,
Benefit Plan Sponsors ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Department of Labor (DOL) ,
Employer Contributions ,
EPCRS ,
Incentives ,
IRS ,
Retirement Plan ,
Roth IRA ,
Safe Harbors ,
SECURE Act
New proposed regulations clarify how employers should implement retirement plan eligibility rules for long-term, part-time ("LTPT") employees. While some questions remain, the proposed regulations provide a number of welcome...more
12/15/2023
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Employee Contributions ,
Employee Retirement Income Security Act (ERISA) ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
Non-Discrimination Rules ,
Proposed Regulation ,
Retirement Plan ,
Safe Harbors ,
SECURE Act
On February 21, 2020, the Internal Revenue Service (IRS) released a memo to address whether the Employer Shared Responsibility Payment (ESRP) imposed by Internal Revenue Code (IRC) section 4980H is subject to any statute of...more
The IRS has extended the relief available to employers who offer an “opt-out” payment to employees who decline company medical coverage. This means that for 2017, such payments, whether conditional or unconditional, will not...more
The IRS has published Notice 2014-19 and related FAQs regarding the application of the Supreme Court’s decision in United States v. Windsor and Rev. Ruling 2013-17 to qualified retirement plans. All retirement plans should be...more