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2025 IRS & SSA Benefits Alert

IRS and SSA Announce 2025 Indexed Numbers - The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2025....more

Benefits Alert - November 2023

The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2024....more

Secure Act of 2022: Significant Changes Linked to Retirement Plans

New legislation commonly called “SECURE 2.0” was signed into law this past December. The new legislation includes almost 100 different changes that are linked to retirement plans....more

New Legislation Commonly Called “SECURE 2.0” was Recently Passed by Congress

New legislation commonly called “SECURE 2.0” was passed by Congress last week and signed into law on Tuesday by President Biden. The new legislation includes almost 100 different changes that are linked to retirement plans. ...more

IRS and SSA Announce 2023 Indexed Numbers

The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2023....more

IRS and SSA Announce 2021 Indexed Numbers

The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2022....more

IRS Extends Relief for Participant Signatures

Certain elections made by participants and spouses under retirement plans must be signed “in the physical presence of a plan representative or a notary public.”  The IRS provided relief from this physical presence requirement...more

New Participant Disclosure For DC Plans

Effective sometime later this year, but no later than September 18, benefit statements issued to participants for defined contribution plans (i.e., 401(k) plans) will be required at least once per year to include a disclosure...more

New IRS Guidance About Flexible Spending Accounts (FSAs)

The IRS recently issued more guidance about the flexibility that employers may provide to employees during 2021 and 2022 for health FSAs and dependent care FSAs. IRS Notice 2021-15 offers more details about how FSAs can be...more

New Rule For Tracking Part-Time Hours for 401(k) Plans

Beginning this year, employers that sponsor 401(k) plans must satisfy a new requirement. 401(k) plans must allow certain part-time employees to make voluntary 401(k) contributions....more

Last Minute Guidance About COBRA and Other Deadlines

The DOL issued Disaster Relief Notice 2021-01 this past Friday about different deadlines that were extended last year due to COVID from March 1, 2020 through February 28, 2021. The deadlines were extended for COBRA election...more

Additional Flexibility for Required Minimum Distributions (RMDs) Taken During 2020

The CARES Act suspended the required minimum distribution (RMD) rules for DC plans and IRAs for 2020 for those past age 70½ (or those past age 72 under new rules). If you have already taken a RMD for 2020 from a DC plan and...more

IRS Confirms Ability To Rely On Proposed Hardship Regulations

The IRS has updated its Operational Compliance List that highlights changes to retirement plans. The updated list affirms the ability of plan sponsors to rely on proposed 401(k) hardship regulations until the IRS finalizes...more

New Rollover Rules For Participant Loans Can Help With Corporate Transactions

When a company is sold and its retirement plan is terminated, an employee with an outstanding participant loan under the plan may have a problem. If the buyer and seller work together, the employee can be offered a choice to...more

New Hardship Withdrawal Rules for 401(k) and 403(b) Plans

On November 14, 2018, the IRS issued proposed regulations about the new hardship withdrawal rules that generally became effective January 1, 2019. The proposed regulations...more

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