The Internal Revenue Service recently announced 2025 dollar limits for qualified retirement plans (including 401(k) plans), deferred compensation plans, and health and welfare plans. Adjustments to certain limits are based on...more
Employees increasingly request (and expect) choice in their benefits. The Internal Revenue Service (IRS) recently released Private Letter Ruling 202434006 (PLR), which approved an employer's program allowing employees to...more
IRS reminds employers that implementing certain optional retirement plan provisions of SECURE 2.0 affect Form W‑2 and Form 1099‑R reporting starting in 2023 -
The IRS recently issued Fact Sheet 2024‑18 to highlight how...more
5/14/2024
/ 1099s ,
Benefit Plan Sponsors ,
Documentation ,
Employee Benefits ,
Employees ,
Employer Liability Issues ,
Incentives ,
Individual Retirement Account (IRA) ,
IRS ,
Reporting Requirements ,
Retirement Plan ,
Roth IRA ,
SECURE Act ,
Tax Planning ,
W-2
New proposed regulations clarify how employers should implement retirement plan eligibility rules for long-term, part-time ("LTPT") employees. While some questions remain, the proposed regulations provide a number of welcome...more
12/15/2023
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Employee Contributions ,
Employee Retirement Income Security Act (ERISA) ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
Non-Discrimination Rules ,
Proposed Regulation ,
Retirement Plan ,
Safe Harbors ,
SECURE Act
The Internal Revenue Service recently announced 2024 dollar limits for qualified retirement plans (including 401(k) plans), deferred compensation plans, and health and welfare plans. Adjustments to certain limits are based on...more
On Friday, Aug. 25, 2023, the IRS announced a two-year reprieve for employers on the implementation of SECURE 2.0's requirement that catch-up contributions made by higher-income participants be designated as after-tax Roth...more
Internal Revenue Code ("Code") Section 457(b) plans are only available to a select group of employers – state and local governments and entities that are exempt from tax pursuant to Code Section 501. Earlier this month, the...more
The Internal Revenue Service recently announced 2023 dollar limits for qualified retirement plans (including 401(k) plans), deferred compensation plans, and health, and welfare plans. Adjustments to certain limits are based...more
The Internal Revenue Service has announced 2021 dollar limits that apply to qualified retirement plans, including 401(k) plans, deferred compensation plans, and health and welfare plans. Adjustments to certain limits are...more
On May 12, 2020, the IRS issued new guidance, IRS Notice 2020-29 and IRS Notice 2020-33, which temporarily provides greater flexibility to individuals participating in a cafeteria plan, health flexible spending arrangement...more