IRS Issuing Opinion and Advisory Letters for Pre-Approved Defined Benefit Plans and Opening Determination Letter Program for Pre-approved Plan Adopters
Monday, March, 12, 2018
IRS Issuing Opinion and Advisory Letters for Pre-approved Defined Benefit Plans and Opening Determination Letter Program for Pre-approved Plan Adopters In IRS Announcement 2018-05 , the Internal Revenue Service (IRS) indicated that it intends to issue opinion and advisory letters for pre-approved master and prototype (M&P) and volume submitter (VS) defined benefit plans that were
- Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases
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Bipartisan Budget Act of 2018 Impact on Benefit Plans
Monday, February, 12, 2018
The “Bipartisan Budget Act of 2018“—P.L. 115-123 (the “Budget Act”) was passed by Congress and signed into law by the President on February 9, 2018. The two year budget provides for a continuing resolution to fund the federal government through March 23, as well as a host of tax law changes. Read More
Voluntary Correction Program Changes User Fees
Tuesday, January, 09, 2018
Voluntary Correction Program Changes Effective January 2, 2018, the IRS simplified the user fees charged for most submissions made under the Voluntary Correction Program (VCP). The total amount of net plan assets determines the applicable user fee. Read More
PBGC Expands Missing Participants Program to Terminated 401(k) and Other Plans
Friday, December, 22, 2017
The Pension Benefit Guaranty Corporation (“PBGC”) is expanding its Missing Participants Program to terminated 401(k) and other plans in an effort to connect more people to their retirement savings. “PBGC’s expanded Missing Participants Program addresses an important problem and meets the needs of our stakeholders,” said PBGC Director Tom Reeder. Read More