The IRS has announced inflation-adjusted limits for retirement plans in Notice 2023-75.
...more
Emergency Withdrawals. Participants in defined contribution plans (profit sharing, 401(k), and 403(b) plans) could access their retirement savings now if plans are amended to allow coronavirus-related withdrawals....more
Yesterday, the IRS increased almost every major retirement plan limit as part of its annual cost of living adjustments. The increased limitations are set forth in the following chart....more
On November 10, 2017, the Senate released a document entitled “Description of the Chairman’s Mark of the ‘Tax Cuts and Jobs Act’” prepared by the Joint Committee on Tax summarizing the proposals expected to appear in the...more
Retirement Plan Limits -
The IRS updated very few of the retirement plan limits effective for the plan year that begins on or after January 1, 2018.
Social Security Tax and Wage Base -
For calendar year 2018, the...more
The IRS issued an announcement that may allow participants and beneficiaries of 401(k) plans or 403(b) plans that have been affected by Hurricane Harvey easier access to their retirement funds until January 31,...more
Transition Period Extension -
In an August 9th court filing, the DOL announced it will extend the transition period for three prohibited transaction exemptions relating to the fiduciary investment advice rule (the...more
8/10/2017
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