DOL Starts Information Collection Request to Build Retirement Savings Lost and Found Database
Tuesday, November, 19, 2024
On November 18, 2024, the U.S. Department of Labor’s Employee Benefits Security Administration issued a notice requesting information from retirement plan administrators that will allow it to begin populating the Retirement Savings Lost and Found database, an online search tool to help America’s workers locate lost retirement savings they earned. Read More
- Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
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2025 401(k) Contribution Limit Increases to $23,500
Friday, November, 01, 2024
The Internal Revenue Service announced November 1, 2024 that the amount individuals can contribute to their 401(k) plans in 2025 has increased to $23,500, up from $23,000 for 2024. The IRS also issued technical guidance regarding all of the cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax
IRS issues Guidance on Inadvertent Benefit Overpayments
Wednesday, October, 16, 2024
Internal Revenue Service (IRS) Notice 2024-77, “Guidance Under Sections 414(aa) and 402(c)(12) of the Internal Revenue Code with Respect to Inadvertent Benefit Overpayments” provides interim guidance on the treatment of inadvertent benefit overpayments under the SECURE 2.0 Act of 2022. Read More
DOL Updates Cybersecurity Guidance
Monday, September, 09, 2024
In its continuing effort to protect U.S. workers’ retirement and health benefits, the U.S. Department of Labor updated current cybersecurity guidance confirming that it applies to all types of plans governed by the Employee Retirement Income Security Act, including health and welfare plans, and all employee retirement benefit plans. Read More