by David Torrillo | Nov 15, 2018 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
As directed by the Bipartisan Budget Act of 2018, the Internal Revenue Service has issued a notice of proposed rulemaking relating to hardship distributions from section 401(k) plans. The amendments reflect statutory changes affecting section 401(k) plans, including...
by David Torrillo | Nov 15, 2018 | Employee Benefit Plans, News and Press Releases
In October 2018, the Society of Actuaries (SOA) updated the Mortality Improvement Scale (Scale MP-2018) that accompanies its most recent Mortality Table (RP-2014). The updated mortality improvement scale incorporates Social Security Administration (SSA) mortality data...
by David Torrillo | Nov 1, 2018 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
The Internal Revenue Service on November 1, 2018 announced cost of living adjustments affecting the dollar limit for pension plans and other retirement-related items for tax year 2019. The IRS today issued technical guidance detailing these items in Notice 2018-83....
by David Torrillo | Oct 2, 2018 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
In Revenue Procedure 2018-52, the Internal Revenue Service (IRS) details new procedures under EPCRS that will require Plan sponsors to utilize www.pay.gov website to file Voluntary Correction Program (VCP) submissions and pay user fees. Beginning on Apr. 1, 2019, the...
by David Torrillo | Aug 31, 2018 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Uncategorized
On August 31, 2018, the President signed an executive order to expand access to workplace retirement savings plans for American workers and to review rules on required minimum distributions. The President’s order directs the Departments of Labor and the Treasury to...
by David Torrillo | Aug 28, 2018 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
On August 17, 2018 the IRS issued a private letter ruling, which permitted an employer to provide a student loan repayment benefit offered through a 401(k) Plan. The student loan benefit program under the plan provided the employer to make a nonelective contribution...
