Mortality Tables for Pension Plans Updated for 2021
Wednesday, December, 11, 2019
In Notice 2019-67, the IRS has provided updated mortality improvement rates and static mortality tables to be used for defined benefit pension plans. These updated mortality improvement rates and static tables, which are being issued pursuant to the regulations under § 430(h)(3)(A), apply for purposes of calculating the funding target and other items for valuation
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DOL Proposes Safe Harbor for Use of Electronic Media
Wednesday, November, 20, 2019
The DOL has proposed a new safe harbor for the use of electronic media to furnish information to participants and beneficiaries of ERISA plans. The proposal would allow plan administrators who meet certain conditions to provide participants and beneficiaries with a notice that certain disclosures will be made available on a website. Read More
Mortality Improvement Scale MP-2019 Released
Wednesday, November, 20, 2019
The Mortality Improvement Scale (Scale MP-2019) that accompanies the Society of Actuaries (SOA) most recent Mortality Table (RP-2014) was updated in October 2019. In addition, the SOA released a new base mortality table, Pri-2012. Read More
- Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases
401(k) Contribution Limit Increases to $19,500 for 2020; Catch-Up Limit Rises to $6,500
Wednesday, November, 06, 2019
The Internal Revenue Service announced that employees in 401(k) plans will be able to contribute up to $19,500 next year. The IRS announced this contribution limit and other changes in Notice 2019-59, posted on IRS.gov. Read More