View This Newsletter: Cost of Living Adjustments for 2024 Cost of Living Adjustments for 2024 In this edition, we discuss: Cost of Living Adjustments for 2024 Considering Changes to Your Business? Don’t Forget About Your Plan! Good News on Catch-Up…
View This Newsletter: Plan Sponsor Quarterly Update – Fall 2023 In this edition, we discuss… What’s New In Washington: Roth Catch-Up Requirement Delayed to 2026 Best Practices: IRS Provides Limited RMD Guidance and Transition Relief Hot Topic: SECURE 2.0’s New…
Did you receive a Late Filing Notice for your Form 8955-SSA? If so, don’t panic! The American Retirement Association has told its members: “The IRS confirmed that the issue was a programming glitch, which it fixed on Wednesday [August 23rd,…
Updated August 24, 2023 In addition to compliance testing, which compares benefits received by the highly compensated and non-highly compensated employees, qualified retirement plans are subject to a top-heavy test that checks whether account balances of ‘Key Employees’ make up…
Updated February 2, 2026 SECURE 2.0 significantly increases the available tax credits for small employer plans. This summary provides an overview of the credits and their value to businesses considering a new plan. Credit for Start-Up Administrative Costs First, SECURE…
Updated August 24, 2023 SECURE 2.0 has brought many changes to the retirement space. Among them: student loan matching. This permissible and optional change is of great interest to many employers and plan sponsors, especially those seeking to attract and…
Updated August 24, 2023 SECURE 2.0 introduced a number of provisions that seek to lessen the administrative burden for employers sponsoring retirement savings programs. Among them, several provisions impacting required plan notices and disclosures. The Department of Labor…
Updated August 24, 2023 Another provision of SECURE 2.0, in Section 338, has modified the requirement to provide paper account statements effective with plan years beginning after December 31, 2025. Before SECURE 2.0, electronic delivery of these statements was…
Updated November 8, 2024 SECURE 2.0 requires 403(b) plans subject to ERISA to conform to the LTPT rules (Read a thorough discussion of the LTPT rules). Certain deferral-only 403(b) plans, church plans, and plans sponsored by governmental entities are…
Updated November 8, 2024 The 2019 SECURE Act (SECURE 1.0) and the SECURE 2.0 Act of 2022 (SECURE 2.0) have introduced significant changes to retirement plan rules; they aim to set millions of Americans on a path to a more…