Assessing Likely Impacts of IRS Hardship Withdrawal Rule Changes
New rules established by Congress and the IRS simplify the process for participants to request a hardship withdrawal of DC...
Tag: Internal Revenue Service (IRS)
Strategies to Manage Retirement Plan Loans
Enshrining these in a well-crafted loan policy statement can help plan sponsor clients take control of leakage and excess early...
A 2019 To-Do List for Plan Sponsor ERISA Compliance
PLANSPONSOR Magazine has published a 2019 ERISA Plan Compliance Calendar that can help your clients track important due dates and requirements for their qualified plans.
Puerto Rico Treasury Updates 2019 Contribution/Benefit Limits
The Puerto Rico Internal Revenue Code of 2011 requires that, before the beginning of each taxable year, the PR Treasury provide notice of the applicable limits under Section...
‘Other Circumstances’ Added As Allowable Reason for Applying for Determination Letter
A new Revenue Procedure makes a change to Revenue Procedure 2018–4 Section 8.02 to add new section 3, “Other Circumstances,” to provide a new category for which determination...
2018 Regulatory Highlights for Plan Advisers and Their Clients
The year that was brought significant regulatory developments from the Department of Labor, the Internal Revenue Service, the Securities and Exchange Commission and other government agencies.
IRS Offers Relief for 403(b) Plans Excluding Certain Part-Time Employees
Under the once-in-always-in exclusion condition, for a 403(b) plan that excludes part-time employees from making elective deferrals, once an employee is eligible to make elective deferrals, the employee...
No Required Amendments on IRS’ Annual List for 2018
When the agency ended its determination letter program, it said it would publish a list of required amendments for individually designed retirement plans to maintain their qualified plan...
2019 Planning for DC Plan Clients
Willis Towers Watson offers nine actions for DC plan advisers to help their clients mitigate risks in 2019.
ERISA Litigation, Regulation Landscape Set for 2019
Speaking to a room of plan sponsors and specialist consultants in Boston, two ERISA litigation experts offered a detailed review of recent action in big-ticket lawsuits impacting employer...
Informational Copies of 2018 Form 5500 Available
The “Changes to Note” section of the 2018 instructions highlights important modifications to the Form 5500 and Form 5500-SF and their schedules and instructions.
Proposed Hardship Withdrawal Amended Regulations Issued by IRS
Under the proposed regulations, 401(k) plan sponsors could choose to make additional accounts available for hardship withdrawals.
IRS Announces Contribution and Benefit Limits for 2019
The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $18,500 to $19,000.
IRS to Focus on Retirement Plan Distributions and 403(b) Plan Rules in 2019
A Program Letter lists compliance strategies for the agency for next year.
IRS Revenue Procedure Takes VCP Program Digital
In announcing a new digital process for self-disclosures and corrections of plan errors, the IRS also says it is currently developing guidance on “other issues relating to the...
New Safe Harbor Rollover Explanations Consider Tax Reform Changes
The IRS has issued two modified safe harbor explanations which take into consideration changes related to qualified plan loan offsets and other statutory changes.
Republicans Flesh Out Tax Reform 2.0, Taking Aim at Retirement Issues
A trio of bills introduced before the House Ways and Means Committee this week offer the first detailed look at Republican Congressional leaders’ hopes for “Tax Reform 2.0,”...
Missing Participants Could Disqualify a Retirement Plan
Mercer offers recommendations for retirement plan sponsors to search for missing participants.