PODCAST: Williams Mullen's Benefits Companion - New IRS Guidance on SECURE 2.0 Act Student Loan Employer Contributions
Videocast: Asset management regulation in 2020 videocast series – SEC enforcement
The Internal Revenue Service announced the 2024 cost-of-living adjustments to the dollar limitations for qualified retirement plans and other benefits, and the Social Security Administration announced its own cost-of-living...more
The IRS has announced the 2024 annual dollar limitations for retirement plans based on the applicable cost-of-living adjustment guidelines, with increases in many of the limits. The annual limit for elective deferrals to...more
Key Takeaways - ..SECURE Act 2.0 passed the U.S. House of Representatives on March 29, 2022. ..SECURE Act 2.0 would make changes to employer-sponsored retirement plans to expand coverage and increase savings, as well as...more
The Internal Revenue Service announced the 2022 cost-of-living adjustments to the dollar limitations for qualified retirement plans and other benefits, and the Social Security Administration announced its own cost-of-living...more
The Internal Revenue Service (“IRS”) announced yesterday (October 26, 2020) the following dollar limits applicable to tax-qualified plans for 2021...more
Notice 2020-68 from the Internal Revenue Service provides clarifications for sponsors and administrators of 401(k) plans and other qualified retirement plans, 403(b) plans, and 457(b) governmental plans on certain provisions...more
A recently issued IRS private letter ruling may provide public agencies and their employees with another way to give employees more control over the types of retirement benefits they will eventually receive....more
The Internal Revenue Service (IRS) recently issued Notice 2020-50 which provides helpful guidance for plan sponsors and plan participants who wish to take advantage of the enhanced distribution and loan provisions under the...more
The IRS has issued IRS Notice 2020-50 (the Notice) providing guidance implementing the retirement plan provisions of the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) that was enacted on March 27, 2020. A...more
Recent announcements from the IRS indicate the potential for increased audits of section 403(b) and 457(b) plans, specifically relating to catch-up contributions under such plans. ...more
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2020. Many...more
I’m not a fan of reporting legislation, but this piqued my interest. Sen. Pat Toomey (R-PA), a member of the Senate Finance Committee, is working on a bill that would allow plan participants to withdraw funds from their...more
The IRS has announced the 2020 annual dollar limitations for retirement plans based on the applicable cost-of-living adjustment guidelines. The annual limit for elective deferrals to 401(k) and 403(b) plans will increase from...more
The Internal Revenue Service recently announced the dollar limitations for retirement plans and other benefits, beginning January 1, 2020. Some of the limits are listed below. ...more
The Internal Revenue Service announced the 2020 cost-of-living adjustments to the dollar limitations for qualified retirement plans and other benefits, and the Social Security Administration announced its own cost-of-living...more
The IRS recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2020. Nearly all of the dollar limits currently in effect for 2019 will...more
On November 6, 2019, the Internal Revenue Service (IRS) released Notice 2019-59, which sets forth the 2020 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The...more
The Internal Revenue Service (“IRS”) announced today (November 6, 2019) the following dollar limits applicable to tax-qualified plans for 2020: The limit on the maximum amount of elective contributions that a person may make...more
On October 8, 2019, the U.S. Department of Treasury and the IRS released the 2019-2020 “Priority Guidance Plan” for the 12-month period running from July 1, 2019, through June 30, 2020. The plan sets out the agencies’...more
As the end of the year approaches, employers should be aware of important year-end deadlines and considerations related to their retirement, health and welfare plans. We have compiled a list of these deadlines and provide...more
Whenever the United States Congress takes up “tax reform,” there always is a danger that the Congress will pay for such tax reform, in part, by eliminating many of the tax incentives that enable employers to provide...more
While primarily focused on individual and business tax cuts and reform, the final Republican tax cut bill includes several provisions expected to impact health care coverage and expenses. First, the bill effectively repeals...more
On November 27, 2017, the Social Security Administration (SSA) announced that it is adjusting the maximum earnings subject to the Social Security tax for 2018 to $128,400. As we have previously posted, the SSA had announced...more
When Hurricanes Harvey and Irma made landfall in Texas and Florida, they gave rise not only to widespread property damage, but to a humanitarian disaster as well. The massive storms have left scores dead and thousands...more