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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

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 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

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

IRS Notice Provides Temporary Relief for Freezing Safe Harbor 401(k) Plans

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

IRS Broadens Eligibility for COVID-19 In-Service Distributions and Participant Loans Under DC Plans

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

DOL Safe Harbor for Electronic Disclosures

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

FAQs Issued For COVID-19 Health Coverage Matters

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

IRS No Longer Prohibits Pension Plans From Offering Certain Lump-Sum Window Programs

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

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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