News & Analysis as of

Deadlines 403(b) Plans

Fisher Phillips

IRS Grab Bag Brings Clarity to Certain SECURE Act 2.0 Provisions: 6 Biggest Points for Employers

Fisher Phillips on

Employers that sponsor retirement plans continue to have a lot on their plate. With SECURE Act 2.0 requirements now in play, this legislation continues to add more and more to your (already) overflowing plate. However, as is...more

Verrill

IRS Issues Practical Guidance for Implementing SECURE 2.0 Provisions

Verrill on

The Internal Revenue Service gave retirement plan sponsors end-of-the-year gifts by providing guidance under twelve sections of the SECURE 2.0 Act of 2022 (“SECURE 2.0”). Although Notice 2024-2, released December 20, 2023...more

Verrill

Casting a Wider Net: SECURE 2.0 Gives “Long-Term Part-Time Employees” Faster Access to 401(k) Plans and 403(b) Plans

Verrill on

The SECURE 2.0 Act of 2022 (“SECURE 2.0”) promotes and expands access to retirement plans for American workers in several ways. Among other things, SECURE 2.0 strengthens and expands the special 401(k) plan eligibility...more

Bass, Berry & Sims PLC

SECURE 2.0 + 1: Retirement Plan Changes and One Notable Health Plan Change

Bass, Berry & Sims PLC on

As widely reported, the president recently signed into law the Consolidated Appropriations Act of 2023 (CAA 2023), a $1.7 trillion omnibus spending bill, which contains significant provisions affecting employer-sponsored...more

Groom Law Group, Chartered

[Webinar] SECURE 2.0 – What You Need to Know - January 4th, 2:00 pm - 3:00 pm EST

The landmark legislation aimed at modernizing the retirement system, SECURE 2.0, has finally arrived, and with its 90 provisions, there is a lot to unpack. On Wednesday, January 4, 2023 at 2:00 – 3:00 p.m. ET, Groom...more

Bradley Arant Boult Cummings LLP

IRS Extends Retirement Plan Amendment Deadlines

Under Notice 2022-33, the Internal Revenue Service (IRS) has extended the deadline for adopting amendments to qualified retirement plans and individual retirement accounts (IRAs) to reflect certain changes made by the Setting...more

McDermott Will & Emery

Proposed IRS RMD Regulations Present Challenges, Risks for 403(b) Plans

McDermott Will & Emery on

The Internal Revenue Service (IRS) is strategically working to execute the statutory changes that were outlined by the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) of 2019. However, the IRS’s efforts...more

Verrill

2021 Year End Employee Benefit Plan Amendments

Verrill on

Health and Welfare Plans - Employers that made available COVID-19 relief and benefit enhancements in 2020 – such as the increased carry over limit and extended grace period for health flexible spending accounts – need to...more

Verrill

December 31 Sunset of Safe Harbor Correction Method for Certain Elective Deferral Failures Benefits Law Update

Verrill on

A special IRS-approved correction method available for elective deferral failures in 401(k) and 403(b) plans with automatic contribution features will sunset on December 31, 2020, meaning it will not be available to correct...more

Pullman & Comley, LLC

Rollover Deadline Extended for Required Minimum Distributions from Retirement Accounts Waived Under the CARES Act

Pullman & Comley, LLC on

As highlighted in our recent Tax Alert, in Notice 2020-51 (the Notice) the Internal Revenue Service (IRS) provides an extension of the 60-day rollover period to August 31, 2020 for individuals who have already taken a...more

Ballard Spahr LLP

Federal Agencies Postpone Deadlines for Employee Benefit Plan Matters

Ballard Spahr LLP on

The Internal Revenue Service has issued Notice 2020-23, which automatically postpones certain deadlines affecting employee benefit plans. Specifically, any deadline that would ordinarily fall on or after April 1, 2020,...more

Roetzel & Andress

IRS Extends Deadline To Restate 403(b) Plans

Roetzel & Andress on

403(b) plans were originally required to be restated by March 31, 2020 in order to comply with current law. In response to the COVID-19 pandemic, the IRS announced that this deadline has been extended to June 30, 2020 for...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Important New Fee Disclosure Guidance

On July 22, 2013, the U.S. Department of Labor (DOL) released Field Assistance Bulletin (FAB) 2013-02, which provides plan administrators of individual account plans with participant-directed investments (such as 401(k) and...more

Dickinson Wright

DOL Extends Deadline For Providing Annual Comparative Chart Of Investment Alternatives In Participant-Directed Individual Account...

Dickinson Wright on

On July 22, 2013, the DOL announced a temporary enforcement policy that provides the administrators of individual account retirement plans such as 40 (k) or 403(b) plans some additional flexibility regarding when they have to...more

Ballard Spahr LLP

DOL Delays Obligation of 401(k) and 403(b) Plans To Distribute Annual Investment Related Information

Ballard Spahr LLP on

The U.S. Department of Labor (DOL) yesterday released Field Assistance Bulletin 2013-2 granting plan sponsors of participant-directed individual account plans (such as 401(k) and 403(b) plans) the ability to delay this year’s...more

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