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Retirement Plan › Incentives

Seward & Kissel LLP

New Option: Rollover From 529 Account to Roth IRA

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Federal income tax law offers tax advantages to taxpayers that save money in specially designated accounts earmarked for future educational expenses (“529 Accounts”).  In addition, federal income tax law also incentivizes...more

Davis Wright Tremaine LLP

How SECURE 2.0 Options Impact Form W-2 and Form 1099-R Reporting

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IRS reminds employers that implementing certain optional retirement plan provisions of SECURE 2.0 affect Form W‑2 and Form 1099‑R reporting starting in 2023 - The IRS recently issued Fact Sheet 2024‑18 to highlight how...more

Davis Wright Tremaine LLP

SECURE 2.0 Medley – IRS and DOL Guidance for Plan Sponsors on Recent Changes

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The Internal Revenue Service and U.S. Department of Labor recently issued guidance on various aspects of the Consolidated Appropriations Act of 2023, commonly referred to as SECURE 2.0. Below is a summary of key provisions...more

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

Keating Muething & Klekamp PLL

Benefits Monthly Minute - Secure 2.0 Implementation Guidance Wrap-up

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The January Monthly Minute digs deeper into the IRS’ SECURE 2.0 implementation guidance. As promised, in the January Monthly Minute, we are providing additional details of the IRS’ SECURE 2.0 implementation guidance. Noted...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (16): Permissible Compensation under PTE 2020-02

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The U.S. Department of Labor has released its package of proposed changes to the regulation defining fiduciary advice and to the exemptions for conflicts and compensation for investment recommendations to retirement plans,...more

McAfee & Taft

New guidance answers questions for retirement plan sponsors

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In late December 2023, the Internal Revenue Service provided additional guidance in the form of questions and answers (“Q&As”) with respect to certain key qualified retirement plan provisions of the Consolidated...more

Faegre Drinker Biddle & Reath LLP

De Minimis Financial Incentives to Participate in a 401(k) or 403(b) Plan

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On December 20, 2023, the IRS issued Notice 2024-2, which provides question-and-answer guidance on various aspects of the SECURE 2.0 Act. This post focuses on the “de minimis financial incentives” under SECURE 2.0 Act Section...more

Jackson Lewis P.C.

SECURE 2.0 – What Employers Need to Know

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On March 29, 2022, the House of Representatives passed the Securing a Strong Retirement Act of 2022 (“SECURE 2.0”, HR 2954). The vote was largely supported by both parties (414-5). The Senate will likely act on the bill...more

Baker Donelson

Maryland Enacts Mandatory Private-Sector Retirement Program That Impacts Most Maryland Employers

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Maryland joins California, Connecticut, Illinois, and Oregon in leading state initiatives to set up state-sponsored retirement plans for employees. The Maryland Small Business Retirement Savings Program and Trust (“the...more

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