IRS Updates Mortality Improvement Rates and Static Mortality Tables for 2022
Wednesday, December, 16, 2020
In Notice 2020-85, the IRS specifies updated mortality improvement rates and static mortality tables to be used for defined benefit pension plans. These updated mortality improvement rates and static tables apply for purposes of calculating the funding target and other items for valuation dates occurring during the 2022 calendar year. Read More
- Published in Employee Benefit Plans, News and Press Releases, Policy Updates
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IRS provides Guidance on SECURE Act that Increases Automatic Enrollment Cap Percentage and Eases Burdens for Certain Safe Harbor Plans
Thursday, December, 10, 2020
The Internal Revenue Service recently issued Notice 2020-86 addressing certain provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) affecting safe harbor plans, including safe harbor 401(k) plans and certain 403(b) plans. Read More
IRS Issues Final Regulations on Extended Rollover Period For Qualified Plan Loan Offset
Tuesday, December, 08, 2020
The IRS has released final regulations on the rollover period for a qualified plan loan offset amount. Previously, the IRS had issued proposed regulations related to the extended rollover period for a qualified plan loan offset amount. Read More
IRS Provides Guidance on Distributions from Terminating 403(b) Plans
Friday, November, 06, 2020
The Department of the Treasury and the Internal Revenue Service issued guidance for employers and employees with terminating 403(b) plans that fund benefits through 403(b)(7) custodial accounts. The guidance reflects changes provided in the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act). Read More