New retirement plan distribution options introduced by SECURE 2.0
SECURE 2.0 provides new opportunities for plan participants to take retirement distributions without incurring early withdrawal penalties.
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Credits and incentives available to retirement plan sponsors
Employers with less than 100 employees who have recently adopted or are considering a retirement plan have a tax savings opportunity.
Compensation and benefits planning can help you navigate an aging workforce
Considerations for structuring compensation and benefit plans that help companies minimize the costs and risks of retiring workers.
Are ESOPs a good fit for business and professional services (BPS) companies?
ESOPs can be advantageous to BPS companies, but their success ultimately depends on several key factors - culture, messaging and ownership goals.
IRS releases 2024 retirement plan limitations
Cost-of-living adjustments to retirement plan limits for 2024 have been issued by the IRS in Notice 2023-75.
IRS announces ERC Withdrawal Program
IRS announces simplified method for employers who have not yet received ERC refunds to withdraw claims that they now believe are ineligible.
New guidance from IRS on correction of errors in qualified retirement plans
The IRS released Notice 2023-43 to provide interim guidance on plan correction changes under SECURE 2.0 until Rev. Proc. 2021-30 (EPCRS) is updated.
SECURE 2.0’s legislative impact on plan corrections
SECURE 2.0 expanded the Employee Plans Compliance Resolution System (EPCRS) to enhance the operational feasibility of qualified plans.
Proposed regulations on using forfeitures in retirement plans
Proposed regulations REG-122286-18, released Feb. 24, provide guidelines for plan administrators to use forfeited amounts in retirement plans.
Required minimum distributions after SECURE 2.0
SECURE 2.0 changes the rules governing how and when certain retirement savers can withdraw money from their retirement accounts and IRAs.
Retirement plan changes for long-term, part-time employees
SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans.
Key takeaways for employers under the SECURE 2.0 Act of 2022
SECURE 2.0 Act significantly changes the tax rules governing qualified retirement plans and individual retirement accounts (IRAs).
IRS opens determination letter program for 403(b) plans
Revenue Procedure 2022-40, allows 403(b) retirement plans to use the same individually designed retirement plan determination letter program currently used by qualified retirement plans.
IRS makes statements on CARES Act Employee Retention Tax Credit risks
On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.
IRS extends retirement plan amendment deadlines
The IRS has provided further extensions of the due dates for plan sponsors to incorporate required operational amendments in their plan documents under the SECURE, CARES, Miners, and Relief Acts.
IRS 90-day pre-examination compliance pilot for retirement plans
The IRS is piloting a pre-examination compliance program for retirement plans, which provides plan sponsors with 90-day window to review plan operations and make corrections prior to examination.