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
The IRS has announced the 2024 cost of living adjustments to qualified plan limits. Below are the highlights...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
If you remember that title song then you might remember a time before RMDs. Required minimum distributions (RMDs) have been a fixture of retirement plan operations ever since passage of the Tax Reform Act of 1986. One of the...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
The IRS has announced the 2022 cost of living adjustments to qualified plan limits. As expected, many of the limits increased significantly compared with prior years. Below are the highlights, and our full historical chart...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
The year 2020 brought a lot of unexpected togetherness to families and couples. While there have been some positive perks to spending so much time together, it has also added additional stress to relationships. Retirement...more
The Internal Revenue Code imposes dollar limitations on various compensation, benefit and contribution levels under qualified retirement plans. Today, the Internal Revenue Service announced the 2020 cost-of-living adjustments...more