Qualified retirement plans will experience unusually sharp increases to compensation and contribution limitations for 2023 compared to adjustments in recent years. On October 21, 2022, the Internal Revenue Service (IRS)...more
Employers will have the opportunity to review and self-correct retirement plan failures upon being identified for plan examination by the Internal Revenue Service (IRS). The IRS announced in early June 2022 the rollout of a...more
Retirement plans are increasingly subject to cybersecurity issues, and the U.S. Department of Labor (DOL) is taking notice. On April 14, 2021, the DOL published cybersecurity guidance “for plan sponsors, plan fiduciaries,...more
5/18/2021
/ Benefit Plan Sponsors ,
Best Practices ,
Class Action ,
Cybersecurity ,
Data Privacy ,
Data Security ,
Department of Labor (DOL) ,
Electronic Communications ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary ,
IRS ,
Plan Participants ,
Popular ,
Retirement Plan ,
Third-Party Service Provider
On October 26, 2020, the Internal Revenue Service (IRS) updated various dollar limitations that apply to tax-qualified retirement plans for 2021. The new amounts, published in Notice 2020-79, are annually adjusted for cost of...more
10/30/2020
/ 401k ,
403(b) Plans ,
Compensation & Benefits ,
Contribution Limits ,
Cost-of-Living Adjustment (COLA) ,
Defined Contribution Plans ,
Employee Benefits ,
Internal Revenue Code (IRC) ,
IRS ,
Popular ,
Retirement Plan ,
Small Employer Plans (SEPs)
In late December, Congress passed and President Donald Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act, the most sweeping retirement legislation since the Pension Protection Act of...more
1/16/2020
/ 401k ,
403(b) Plans ,
Beneficiary Designations ,
Defined Benefit Plans ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
Multiemployer Plan ,
New Legislation ,
Part-Time Employees ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Tax Planning