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
The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2024....more
11/6/2023
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Cafeteria Plans ,
Contribution Limits ,
Cost-of-Living Adjustment (COLA) ,
Defined Contribution Plans ,
Employee Benefits ,
Health Savings Accounts ,
Internal Revenue Code (IRC) ,
IRS ,
Retirement Plan ,
Social Security Administration (SSA) ,
Social Security Benefits
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 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
12/30/2022
/ 401k ,
403(b) Plans ,
Contribution Limits ,
Employee Benefits ,
Employee Contributions ,
Employer Contributions ,
Hardship Distributions ,
New Legislation ,
Pension Plan Amendments ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Roth IRA ,
SECURE Act ,
Small Business
The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2023....more
The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2022....more
11/12/2021
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Cost-of-Living Adjustment (COLA) ,
Employee Benefits ,
FSA ,
Health Savings Accounts ,
Individual Retirement Account (IRA) ,
IRS ,
Retirement Plan ,
Social Security Administration (SSA)
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
7/13/2021
/ Coronavirus/COVID-19 ,
Employee Benefits ,
IRS ,
Notarization ,
Physical Presence Test ,
Plan Participants ,
Relief Measures ,
Remote Notarization ,
Retirement Plan ,
Signatures ,
Time Extensions
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
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
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
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
3/3/2021
/ Benefit Plan Sponsors ,
COBRA ,
Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
Employee Benefits ,
Employer Group Health Plans ,
Filing Deadlines ,
IRS ,
Public Health Emergency ,
Relief Measures ,
Time Extensions
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
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
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
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
This alert shows the new IRS and SSA 2019 Indexed Numbers For Employee Benefits Plans....more