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November 7th, 2023 Information & Insights for the 403(b) Community IRS Increases 401(k) Limit to $23,000 for 2024, IRA Limit to $7,000 The new limits come with guidance on all the cost-of-living adjustments affecting limitations for pension plans and other retirement-related items for tax year 2024. DOL Would Oversee Annuity Sales, Rollovers Under New Proposal The rule is open for public comment, with legal challenges expected almost immediately.  Ask the Experts When Do Rehired Employees Qualify for Employer Contributions? Q: We sponsor an ERISA 403(b) plan. We have an employee who was rehired who was an eligible and participating employee (both employer and elective deferral contributions) in the plan at the time of her termination. Upon rehire, must she start over again and wait a year before she can receive employer contributions again (our plan has a one-year waiting period for receipt of employer contributions) or can she begin to receive employer contributions immediately upon rehire? Employers Largely Underestimate Employees’ Caregiving Responsibilities While working caregivers tend to have little in emergency savings and often retire early, employers’ benefit offerings are misaligned with what caregivers want and need, new TIAA research shows. Help Your Plan Adviser Get Recognized Do you work with a great plan adviser! Nominate your plan adviser today for the 2024 Retirement Plan Adviser of the Year awards. Nominations for the Plan Sponsor Service, Plan Participant Service and 403(b) Plan Service categories can only come from plan sponsor clients, so we need your help in identifying the best in the business. Did someone forward you this newsletter? Sign up here to get (b)lines directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2025 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 300, Rockville, MD 20850