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Retirement Plan › Retirement › Tax Liability

Seyfarth Shaw LLP

SECURE 2.0: Guidance on Exception to Early Distribution Penalty for Terminally Ill Individuals

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Seyfarth Synopsis: As previously reported here, on December 20, 2023, the IRS issued Notice 2024-2 (the “Notice”) providing guidance on several outstanding questions related to provisions under SECURE 2.0. This blog post...more

Seyfarth Shaw LLP

“SECURE-ing” the Answers to Outstanding Questions on the Rothification of Employer Contributions

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Seyfarth Synopsis: Under Section 604 of Secure 2.0, sponsors of 401(k), 403(b) and governmental plans may allow employees to designate employer match (including match on student loan repayments) or nonelective contributions...more

Stinson LLP

IRS Announces Delay of Implementation of SECURE 2.0 Act’s Roth Catch-Up Contribution Provision for Two Years

Stinson LLP on

As signed into law, Section 603 of the SECURE 2.0 Act of 2022 (SECURE 2.0) required that effective as of January 1, 2024, participants in 401(k) plans, 403(b) plans, or governmental 457(b) plans, who were age 50 or older and...more

Groom Law Group, Chartered

Biden’s 2024 Budget Includes Familiar Health, Retirement Proposals

Groom Law Group, Chartered on

On March 9, 2023, President Biden released his budget for Fiscal Year 2024. Similar to proposals in its last budget, the Administration’s new budget proposes a number of major tax increases, including the following:...more

Groom Law Group, Chartered

Recent IRS Guidance Focuses on Rules for Qualified Foreign Pension Funds

Groom Law Group, Chartered on

At the end of 2022, the Department of the Treasury and the Internal Revenue Service (together, the “IRS”) issued two sets of guidance – a final rule and a proposed rule – addressing the application of certain provisions of...more

Adler Pollock & Sheehan P.C.

The Return of RMDs: COVID-19-Related Suspension of RMDs is a Thing of the Past

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The temporary reprieve is over. Due to the COVID-19 pandemic, Congress suspended the rules for required minimum distributions (RMDs) in 2020, including inherited accounts. But the rules have been restored for the 2021 tax...more

Williams Mullen

[Webinar] SECURE Act: What Plan Sponsors Need to Know - February 18th, 11:00 am ET

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The SECURE Act* makes significant changes to employer-sponsored retirement plans and many of the changes take effect immediately. Highlights of the provisions of the SECURE Act that are effective in 2020 include: -...more

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