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
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
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
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
On June 29, the IRS issued Notice 2020-52. It permits plan sponsors to adopt a mid-year amendment between March 13, 2020 and August 31, 2020 to freeze their safe harbor contributions under their 401(k) and 403(b) plans. The...more
On June 19, the IRS issued Notice 2020-50. It expounds on the rules for in-service withdrawals and participant loans for defined contribution (DC) plans for participants adversely affected by the COVID-19 pandemic. The...more
On May 27, the DOL issued final regulations that provide a safe harbor for electronic disclosures to employees. Although the regulations don’t become effective until 60 days later (on July 27, 2020), they may be relied upon...more
On June 23, the DOL, IRS and HHS issued joint FAQs about the implementation of health coverage rules related to COVID-19 under the CARES Act and the FFCRA. Topics covered by the FAQs include coverages, procedures and services...more
In IRS Notice 2019-18, the IRS announced that it no longer intends to issue regulations that prohibit pension plans from offering to retirees who have already begun annuity payments the choice to receive the value of the...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