2019 is poised to be a big year for new retirement plan legislation and regulations. Already the IRS has simplified correction procedures for plan sponsors and expanded its determination letter program. Attorneys expect passage of the SECURE Act and final regulations on hardship withdrawals. Senators have introduced legislation to further association health plans after a court struck down Department of Labor (DOL) regulations. And, of course, court cases always inform plan sponsors of new trends and processes. Enjoy this edition of PLANSPONSOR Weekend!
An IRS Revenue Procedure expands self-correction methods for certain retirement plan document and retirement plan loan failures and provides a new method of correction by plan amendment.Read more >
Plan sponsors can look for new legislation and regulations that will have big effects on retirement plans this year, and state legislation could add some confusion.Read more >
Last June, the Department of Labor (DOL) finalized regulations to expand the opportunity to offer employment-based health insurance to small businesses through Association Health Plans (AHPs), but a district court struck them down.Read more >
Speakers at a Brookings Institution event agreed that a financial strength criterion asking how sound is an annuity carrier should be a critical part in any annuity selection safe harbor for defined contribution (DC) plan sponsors.Read more >