EFAST2 Authentication Process is Changing
Monday, September, 25, 2023
The DOL’s EFAST2 website authentication process is being modernized in 2023. As part of this modernization, DOL is phasing out the existing method of logging in to the EFAST2 website with an EFAST2-issued User ID and password. Read More
- Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
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IRS Announces Administrative Transition Period for New Roth Catch-up Requirement; Catch-up Contributions Still Permitted after 2023
Friday, August, 25, 2023
On August 25, 2023, the Internal Revenue Service announced an administrative transition period that extends until 2026 the new requirement that any catch-up contributions made by higher‑income participants in 401(k) and similar retirement plans must be designated as after-tax Roth contributions. Read More
Guidance on Section 305 of the SECURE 2.0 Act of 2022 with Respect to Expansion of EPCRS (Notice 2023-43)
Friday, May, 26, 2023
Recently the Internal Revenue Service released Notice 2023-43 which provides guidance on section 305 of the SECURE 2.0 Act of 2022 with respect to the expansion of the Employee Plans Compliance Resolution System (EPCRS). Read More
IRS Proposed Regulation on Use of Forfeitures
Tuesday, May, 23, 2023
In February of 2023, the IRS proposed regulations relating to the use of forfeitures. This would generally require that plan administrators use forfeitures no later than 12 months after the close of the plan year in which the forfeitures are incurred. Read More