Tag: Internal Revenue Service (IRS)

The agency has issued a List of Required Modifications (LRMs) and Information Package for use with prototype SIMPLE IRAs.

Retirement plans can provide this relief to employees and certain members in disaster area localities affected by Hurricane Matthew and designated for individual assistance by the FEMA. 

The IRS released results on two completed projects and announce a new one.

Attendees will learn about hours of service; changes in employee status; student participation; and other 403(b) rules.

The revenue procedure updates the comprehensive system of correction programs for sponsors of retirement plans that are intended to satisfy the requirements of the Internal Revenue Code, but...

The relief is available for plan years beginning before 2018, if certain conditions are satisfied.

Some changes made be needed due to the end of the determination letter program.

A look at the latest legislative, regulatory and judicial developments

“Tax incentives for retirement savings are designed to help people build a nest egg,” says one high-ranking member of the Senate Finance Committee, “not a golden egg.”

The rule is intended to facilitate the payment of benefits partly in the form of an annuity and partly as a single sum.

The updated tables apply for purposes of calculating the funding target and other items for valuation dates occurring during calendar year 2017.

Defined contribution plan participant experience expert expresses real confidence in the industry’s ability to “solve the portability problem.”

The Internal Revenue Service announced that employer-sponsored retirement plans can make loans and hardship withdrawals to assist victims of historic flooding in Louisiana. 

IRS is hosting a free webcast August 25 about the ongoing efforts of its Employee Plans Compliance Unit. 

A compliance statement lists the failures and a VCP applicant’s proposed corrections.

IRS published a short, informal document explaining how its annual Cumulative List should be applied in the case of a terminating retirement plan. 

The upcoming webcast will detail major changes to the IRS determination letter and remedial plan amendment programs being implemented January 1. 

The IRS is asking DB plan sponsors to identify whether their plan has lump-sum risk transfer language.