In the past few months, we have seen significant changes to the laws governing employee benefits, from the new hardship withdrawal regulations for 401(k) participants, to the SECURE Act, to the new individual coverage health...more
1/17/2020
/ 401k ,
403(b) Plans ,
Compensation & Benefits ,
Employee Benefits ,
Hardship Distributions ,
HRA ,
Individual Retirement Account (IRA) ,
New Legislation ,
Pensions ,
Regulatory Reform ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Tax Credits ,
Tax Planning ,
Tax Rates
Not all 401(K) and other qualified plans allow hardship withdrawals, but if your plan does allow hardship withdrawals, make sure it is compliant with the new rules finalized in September. All of the changes are optional for...more
10/17/2019
/ 401k ,
Employee Benefits ,
FEMA ,
Hardship Distributions ,
IRS ,
Natural Disasters ,
Plan Administrators ,
QMAC ,
QNEC ,
Qualified Disaster Relief Payments ,
Retirement Plan
On February 9, 2018, the Bipartisan Budget Act (the “Act”) was signed into law. The Act directed the IRS to revise regulations governing hardship withdrawal provisions in qualified plans. ...more
12/28/2018
/ 401k ,
Bipartisan Budget Act ,
Employee Benefits ,
Hardship Distributions ,
IRS ,
New Regulations ,
QMAC ,
QNEC ,
Retirement Plan ,
Tax Penalties ,
Tax Planning ,
Taxation