Tag: IRS

IRS Reverses Change in HSA Limit

The IRS says it is reversing the change to the limitation because stakeholders informed it that implementing the $50 reduction to the limitation on HSA contributions for an individual with family coverage under an HDHP would impose numerous unanticipated administrative and financial burdens.

IRS Modifies VCP User Fees

The agency also issued information about how to obtain or re-establish an employer identification number (EIN) for a retirement plan trust.

Lawmakers Rethink Changes to Deferred Compensation

Following the earliest stages of debate, both the House and the Senate seem to have backed away from major changes to deferred compensation arrangements, as well as from other retirement-industry focused proposals. 

NQDC, 457 Plans Included Among Senate Tax Reform Targets

Among other changes of note for plan sponsors, the proposal “applies a single aggregate limit to contributions for an employee in a governmental section 457(b) plan and elective deferrals for the same employee under a section 401(k) plan or a 403(b) plan of the same employer.”