Plan Sponsor Clients Need to Know What Causes a Deemed Distribution
An IRS Issue Snapshot addresses retirement plan participant loan rules that must be followed to avoid having a loan or part of a loan become a deemed distribution.
Class Certified in Suit Over TIAA’s Plan Loan Practices
A federal district court judge noted there are more than 460,000 loans at issue.
IRS Issues NPRM for Extended Rollover Deadline for Qualified Plan Loan Offsets
A participant has until the due date (with extensions) for filing his federal income tax return for plan loan offset amounts resulting solely from the participant’s termination of employment or the employer’s termination of the plan.
Deloitte Suggestions Could Help Plan Sponsor Clients Address Loan Leakage
A report from Deloitte explores mechanisms to prevent loan leakage, including policy changes to plan design, loan education programs, debt consolidation, payroll program automation, and 401(k) loan insurance.
Scant Withdrawals From DC Plans in First Half of Year
The number of participants taking hardship withdrawals remained less than 1%.