Considerations for structuring compensation and benefit plans that help companies minimize the costs and risks of retiring workers.
ESOPs can be advantageous to BPS companies, but their success ultimately depends on several key factors - culture, messaging and ownership goals.
Cost-of-living adjustments to retirement plan limits for 2024 have been issued by the IRS in Notice 2023-75.
IRS announces simplified method for employers who have not yet received ERC refunds to withdraw claims that they now believe are ineligible.
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 expanded the Employee Plans Compliance Resolution System (EPCRS) to enhance the operational feasibility of qualified plans.
Proposed regulations REG-122286-18, released Feb. 24, provide guidelines for plan administrators to use forfeited amounts in retirement plans.
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.
SECURE 2.0 changes the rules governing how and when certain retirement savers can withdraw money from their retirement accounts and IRAs.
SECURE 2.0 Act significantly changes the tax rules governing qualified retirement plans and individual retirement accounts (IRAs).
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.
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.
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.
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.
The IRS provides some relief amid rising gas prices with an optional increase to the standard mileage rate for business travel.