On April 3, 2025, the U.S. Department of Labor (the “DOL”) issued Field Assistance Bulletin 2025-02 (the “Bulletin”), clarifying the annual funding notice requirements applicable to defined benefit pension plans under section...more
Background - Many defined contribution plans are designed to permit participants to take advantage of an increased employee contribution limit starting the year they turn 50....more
2/13/2025
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Benefit Plan Sponsors ,
Defined Contribution Plans ,
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Tax Planning ,
U.S. Treasury
Five years ago, the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) made several significant changes to certain distributions required pursuant to Internal Revenue Code (“Code”) Section...more
Pension-Linked Emergency Savings Accounts (“PLESAs”) are a special retirement plan feature created under SECURE ACT 2.0. PLESAs were first permitted to be made available to participants as of January 1, 2024. PLESAs, which...more
4/8/2024
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403(b) Plans ,
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Compensation & Benefits ,
Department of Labor (DOL) ,
Employee Benefits ,
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Internal Revenue Code (IRC) ,
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SECURE Act
The Internal Revenue Service (the “IRS”) recently issued Notice 2022-33 (the “Notice”), providing extensions to certain upcoming plan amendment deadlines under certain provisions of the Setting Every Community Up for...more
The Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”) made sweeping changes to retirement plan rules. Section 203 of the SECURE Act requires that plan administrators provide participants in...more
On December 9, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-86 which provides guidance relating to certain changes to the safe harbor rules that apply to 401(k) plans made by the Setting Every Community Up...more
As part of our series of continuing updates on different aspects of The Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”) and related legislation that may impact (or provide opportunities...more
The Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”), made sweeping changes to retirement plan rules. As part of our ongoing efforts to summarize key provisions of the SECURE Act that may...more
Signed into law on December 20, 2019 as part of the Further Consolidated Appropriations Act, 2020, The Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”), made sweeping changes to retirement...more
The Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”), made sweeping changes to retirement plan rules. As described in our prior alert, certain provisions took effect immediately and were...more
On December 20, 2019, the Further Consolidated Appropriations Act, 2020 (the “FCAA”) was signed by the President after passing both houses of Congress. Within the FCAA, which was primarily a budget and spending law, a...more