June 1st, 2023 Senate Considers House-Passed Debt Ceiling Bill Bipartisan approval in the House clears the way for the measure to avert a U.S. default.
Administration | August 2nd, 2022 IRS Updates Life Expectancy Tables for Retirees The tax and spending watchdog has changed the defined contribution account withdrawal rules for retirement plan participants.
Ask the Experts | July 26th, 2022 Are Retirement Plan Sponsors Still Required to File Form 8955-SSA? Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations.
Compliance | February 6th, 2019 Will Changes to Hardship Withdrawal Rules Lead to More Plan Leakage? Some industry sources believe the availability of more funds for hardship withdrawals and the elimination of the requirement to first...
Compliance | November 15th, 2018 Retirement Plan ERISA Litigation Trends Still Heating Up It has only been about a year and a half since large U.S. universities became the target of ERISA lawsuits,...
Compliance | November 1st, 2018 IRS Announces Contribution and Benefit Limits for 2019 The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan...
Compliance | October 1st, 2018 Sponsors Must Submit IRS Voluntary Correction Program Docs Digitally According to IRS Revenue Procedure 2018-52, in general, beginning April 1, 2019, plan sponsors must use the www.pay.gov website when...
Compliance | September 24th, 2018 IRS Modifies Safe Harbor Explanations for Rollovers The modifications take into consideration changes related to qualified plan loan offsets and other statutory changes.
Compliance | August 31st, 2018 President Trump Orders Review of Open MEPs, RMD Rules President Trump on Friday called on the Department of Labor to consider the pros and cons of allowing small businesses...
Administration | August 31st, 2018 Mercer Makes Recommendations for Finding Missing Participants If there are missing participants that plan sponsors have not made a genuine effort to find, “the entire plan could...
Compliance | August 30th, 2018 ERIC Asks IRS for Revenue Ruling on Student Loan Repayment Benefit The IRS recently issued a private letter ruling approving a student loan repayment benefit within a retirement plan; ERIC wants...
Compliance | August 28th, 2018 IRS Again Extends Closed DB Plan Nondiscrimination Relief The IRS and the Treasury Department have extended nondiscrimination relief for closed defined benefit plans for an additional year.
Compliance | August 20th, 2018 IRS Extends Date for Opinion Letters for Third Remedial Amendment Cycle The IRS notes that Rev. Proc. 2017-41 modified the pre-approved letter program by combining the master & prototype and volume...
Compliance | August 20th, 2018 IRS Approves Plan Sponsor’s Student Loan Repayment Benefit in 401(k) Plan Because participants receiving a student loan repayment non-elective contribution can still make deferrals to the 401(k) plan and receipt of...
Compliance | August 8th, 2018 All 403(b) Plan Sponsors Should Focus on Document Remedial Amendment Period 403(b) plan sponsors have until March 31, 2020, to adopt a pre-approved plan document and to make sure their plan...
Compliance | August 6th, 2018 Pace of EBSA Settlements and Plan Corrections Is Strong “On the retirement side, again, there is a strong focus on missing participants, and EBSA is diving incredibly deep," says...
Compliance | July 16th, 2018 Sifting Through Retirement Plan Regulations Understanding the hierarchy of regulations and how plan sponsors should interpret seemingly conflicting ones.
Compliance | July 12th, 2018 Church Plan Operating Under Rules of ERISA Has Not Elected to Be an ERISA Plan Since the Supreme Court decision about the definition of church plan under the Employee Retirement Income Security Act, the Internal...
Compliance | July 3rd, 2018 PBGC Sets Disaster Relief on IRS Autopilot With some exceptions, PBGC premium payers and data providers can now assume filing relief from the pension insurer in each...
Compliance | July 2nd, 2018 Considerations for Changing the Interest Crediting Rate in a Cash Balance Plan In an issue snapshot, the Internal Revenue Service (IRS) discusses when a cash balance plan amendment reduces (or potentially reduces)...