News & Analysis as of

Plan Administrators Retirement Plan 457(b) Plans

Foley & Lardner LLP

Time to Update Your Retirement Plan’s Tax Notice

Foley & Lardner LLP on

Internal Revenue Code Section 402(f) requires plan administrators of certain retirement plans to provide a tax notice to payees that describes their rollover rights. The Internal Revenue Service (IRS) historically has...more

Best Best & Krieger LLP

Using a Plan Administration Expense Account as Part of An Agency’s 457(b) or 401(a) Plan

Not surprisingly, many cities and special districts no longer have monies available in their budgets to spend on things such as legal fees to analyze and correct plan administration problems and compliance issues. When it is...more

Groom Law Group, Chartered

SECURE Act Requires Immediate Action by Plan Service Providers

Congress recently passed the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade.  Many of the provisions in the SECURE Act...more

Groom Law Group, Chartered

Year-End Challenges and Opportunities: Congress Passes SECURE Act, Caddy Tax Repeal, and More

On Thursday, December 19, the Senate passed two spending bills to fund the government through September 30, 2020, one of which (H.R. 1865, the “Further Consolidated Appropriations Act of 2020” or the “Act”) contains the...more

Best Best & Krieger LLP

Ways To Correct Governmental Plan Problems

There are several tools that can be used to correct or fix governmental plan problems. First, some classification. Practically all the retirement plans we discuss are “tax-advantaged” in one form or another. However,...more

Verrill

IRS issues updated 402(f) rollover distribution notices

Verrill on

The IRS has issued new model notices for recipients of rollover distributions from qualified retirement plans. The updated notices reflect changes from the 2017 tax reform act, as wells as regulatory changes enacted since...more

Bradley Arant Boult Cummings LLP

New Self-Certification Procedure for Late Rollovers

The Internal Revenue Service (IRS) has issued Revenue Procedure 2016-47, which provides for a new self-certification procedure for participants who receive retirement plan distributions but inadvertently miss the 60-day time...more

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