CARES Act – Retirement Plan Distributions and Loans: Troutman Sanders and Pepper Hamilton COVID-19 Issues for Employers Podcast Series
Beginning this year, plan sponsors may increase their qualified plan’s mandatory cash-out limit from $5,000 to $7,000. The increase was enacted by SECURE 2.0, and applies to distributions made after December 31, 2023....more
Another Change- Last week BDO confirmed that it was going to convert from an entity organized as a limited liability partnership under state law to one organized as a corporation. With that, BDO became the latest in a...more
Last week, as reported in the December 21 Health Headlines, bipartisan congressional leaders announced they had reached an agreement on a COVID-19 relief package––which would be combined into one end of year legislative...more
As retirement plan professionals know, certain distributions from plans and IRAs to taxpayers can be rolled over to another plan or IRA within 60 days. Of course, sometimes 60 days is just not enough and the IRS recognizes...more