Tag: IRS

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 the contribution is not dependent on whether the employee makes deferrals to the plan, the IRS ruled the benefit will not violate the “contingent benefit” prohibition of the Income Tax Regulations.

ERIC Calls Foul in DOL’s Missing Participant Push

In an open letter asking for more detailed guidance, the ERISA Industry Committee spells out what it says are “examples of missteps” by the DOL, including “issuing letters asserting breaches of fiduciary duty when there is no applicable legal guidance.”

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 case that the IRS issues its own disaster-related relief that impacts the filing of Forms 5500.

IRS and DOL Asked for Better Guidance on Missing Participants

The Plan Sponsor Council of America has heard concerns from its members that they have been or may be subjected to enforcement actions even though the DOL and IRS have not issued comprehensive guidance on missing participants that provide a clear roadmap for compliance.