Tag: Internal Revenue Service (IRS)

The IRS announced last week that plan sponsors have an additional two years to implement the mandatory Roth catch-up provision...

Notice 2023-62 also announces a two-year administrative transition period for higher-income participants to designate catch-up contributions as Roth. 

The Internal Revenue Service is providing expansive tax relief, including waiving the penalty fee for hardship withdrawals, for victims of...

The Department of Labor claims a New Jersey electrical contractor misappropriated employees’ retirement plan contributions and ended employer contributions to...

The tax agency intends to use outreach and expanded exams over the next year to address compliance by companies with...

Plan sponsors whose workforce has access to Employee Stock Ownership Plans may accrue benefits of reduced worker turnover, research shows....

The manufacturer was targeted for alleged fiduciary breaches in the management, operation and administration of the plan, according to the...

The committee’s spending bill appropriates $14 million for the creation of a retirement account database.

Regulators warn sponsors offering these plans should make sure they are not essentially compensating an employee for non-medical expenses.

The lawsuit plaintiffs are ESOP participants holding vested shares of Churchill stock in their accounts who were employed at Churchill...

Plan sponsors can make additional corrections via SCP, rather than VCP, while a “reasonable amount of time” to discover an...

Bipartisan approval in the House clears the way for the measure to avert a U.S. default.

The agreement would extend the debt ceiling until January 2025.

The IRS announced a second consecutive significant increase to health savings account contribution limits in its response to continued inflation.

Government plans will struggle to comply with SECURE 2.0 because of their administration requirements.

Thursday was the final day to submit comments on the December 2022 IRS proposal to allow remote notarization for many...

An ERISA complaint against the Conagra pension plan claims the fiduciary and plan administrator are ignoring distribution rules laid out...

The Department of Labor extended to mid-April the deadline for public comments on amendments to the Voluntary Fiduciary Correction Program...

Legislators seem to have dropped a section from the final version of SECURE 2.0 that nullifies catch-up contributions in retirement...

The rule would codify relief from ‘physical presence’ rules for retirement plan elections that was first granted during the height...