by Lyn Domenick As the late, great B.B. King would sing, never make your move too soon. That’s often a smart approach in life. But when it comes to employee benefits communications, that might not be the right advice...more
by Lyn Domenick Many retirement plan errors are inadvertent and involve small dollar amounts. However, the work involved in correcting such errors can be time consuming and burdensome. Fortunately, SECURE 2.0 provides that...more
8/22/2023
/ 401k ,
Benefit Plan Sponsors ,
Compensation ,
Employee Retirement Income Security Act (ERISA) ,
Inadvertent Errors ,
Misrepresentation ,
Overpayment ,
Recoupment ,
Retirement Plan ,
SECURE Act ,
Self-Correction Programs
The IRS has announced the 2023 cost of living adjustments to qualified plan limits. As expected, many of the limits increased substantially compared with prior years. Below are the highlights, and our full historical chart...more
If you have participants in your retirement plan who are old enough to identify Carole King as the artist who released the song “It’s Too Late” some 50 years ago, this blog’s for you. Late payment of required minimum...more
ERISA provides that when an individual makes a claim for benefits under an employer’s plan, they are entitled to copies of all documents, records, and other information relevant to the claimant’s claim for benefits. The...more
In the midst of everything going on, we wanted to point out a few “under the radar” implications of IRS Notice 2020-23. The Notice, issued on April 9th, provides that tax-related deadlines that fall between April 1, 2020 and...more