The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2024. Many...more
2/12/2024
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Compensation & Benefits ,
Contribution Limits ,
Cost-of-Living Adjustment (COLA) ,
Employee Benefits ,
Internal Revenue Code (IRC) ,
IRS ,
Retirement Plan ,
Tax Planning
Employers who sponsor retirement plans for their employees face annual reporting requirements that may involve significant expenses. One of these is the requirement that a plan be audited annually by an independent qualified...more
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2022. Many...more
4/14/2022
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Compensation & Benefits ,
Cost-of-Living Adjustment (COLA) ,
Defined Benefit Plans ,
Defined Contribution Plans ,
Employee Benefits ,
Highly Compensated Employees ,
IRS ,
New Guidance ,
Regulatory Standards ,
Retirement Plan ,
Social Security Administration (SSA) ,
Social Security Income
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2021. A few...more
As highlighted in our recent Tax Alert, in Notice 2020-51 (the Notice) the Internal Revenue Service (IRS) provides an extension of the 60-day rollover period to August 31, 2020 for individuals who have already taken a...more
7/22/2020
/ 401k ,
403(b) Plans ,
CARES Act ,
Deadlines ,
Employee Benefits ,
IRA Rollovers ,
IRS ,
Relief Measures ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan
Over the past several years, many employers have adopted a safe harbor contribution feature for their 401(k) retirement plan. Employers anticipating or experiencing financial stress triggered by the COVID-19 related business...more
New legislation impacting retirement plans and their participants was signed into law by President Trump on December 20, 2019. The Setting Every Community Up for Retirement Enhancement Act (the “SECURE Act”) is one of the...more
2/3/2020
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Beneficiary Designations ,
Benefit Plan Sponsors ,
Compensation & Benefits ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Individual Retirement Account (IRA) ,
New Legislation ,
Regulatory Reform ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Tax Planning ,
Tax Rates
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2020. Many...more
12/19/2019
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Contribution Limits ,
Cost-of-Living Adjustment (COLA) ,
Defined Benefit Plans ,
Employee Benefits ,
FICA Taxes ,
Highly Compensated Employees ,
IRS ,
Popular ,
Qualified Benefit Plans ,
Qualified Retirement Plans ,
Retirement Plan ,
Social Security ,
Tax Planning
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2019. ...more
11/29/2018
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Contribution Limits ,
Cost-of-Living Adjustment (COLA) ,
Defined Benefit Plans ,
Employee Benefits ,
FICA Taxes ,
Highly Compensated Employees ,
IRS ,
Qualified Benefit Plans ,
Qualified Retirement Plans ,
Retirement Plan ,
Social Security
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2018. Many...more
Who really benefits? You may be surprised!
If you participate in a 401(k) or other retirement plan, have one or more IRA accounts, or life insurance policies, you need to designate beneficiaries to receive the benefits...more
The Internal Revenue Code provides for various dollar limitations on benefits, contributions, and compensation for tax-qualified employee benefit plans. Recently, the Internal Revenue Service announced cost of living...more