by David Torrillo | Oct 21, 2015 | Employee Benefit Plans, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Internal Revenue Service on October 21, 2015 announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2016. In general, the pension plan limitations will not change for 2016 because the...
by David Torrillo | Sep 29, 2015 | Employee Benefit Plans, Forms and Procedures, News and Press Releases
On September 21, 2015, the IRS announced a new Form 5500 compliance project focusing on plan years ending in 2011, as detailed below. Plan sponsors should ensure that all required Form 5500s have been filed and respond to any notice received from the Employee Plans...
by David Torrillo | Aug 3, 2015 | Employee Benefit Plans, News and Press Releases, Retirement - 401(k), 403(b)
On July 31, 2015, the FASB issued Accounting Standards Update No. 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (Part I) Fully...
by David Torrillo | Jul 22, 2015 | Employee Benefit Plans, Forms and Procedures
In Announcement 2015-19, the Internal Revenue Service (IRS) announced changes to the Employee Plans Determination Letter Program. This announcement describes important changes to the Employee Plans determination letter program for qualified retirement plans. Based on...
by David Torrillo | Jul 10, 2015 | Employee Benefit Plans, Forms and Procedures, News and Press Releases
Notice 2015-49, Use of Lump Sum Payments to Replace Lifetime Income Being Received By Retirees Under Defined Benefit Pension Plans, informs taxpayers that the Treasury Department and the IRS intend to amend the required minimum distribution regulations under §...
by David Torrillo | Jul 8, 2015 | Employee Benefit Plans, News and Press Releases
In its report, the Employee Plans (EP) Subcommittee reviewed the current status of the 403(b) community, with specific focus on areas that have resulted in a lower level of compliance with the Code and created excess operational costs. In the EP Subcommittee’s...
