by David Torrillo | Sep 12, 2016 | Employee Benefit Plans, News and Press Releases
As reported in the AICPA Journal of Accountancy, defined benefit plan participants will have greater flexibility in choosing how to receive their pension benefits under final regulations issued by the IRS (T.D. 9783). The regulations finalized proposed rules issued in...
by David Torrillo | Aug 30, 2016 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
The Internal Revenue Service announced on August 30, 2016 that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to Louisiana flood victims and members of their families. Â Participants in 401(k) plans, employees of...
by David Torrillo | Aug 24, 2016 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
On August 24, 2016, the Internal Revenue Service provided a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day time limit for properly rolling these amounts into another retirement plan or...
by David Torrillo | Jul 12, 2016 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
As detailed in the press release from the DOL on July 11, 2016, the long awaited Proposed Forms Revisions to the Form 5500 Annual Return/Report Series. They can be found on the DOL’s website and are summarized below based on the DOL’s Fact Sheet. Proposed...
by David Torrillo | Jul 11, 2016 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
Background The Department of Labor published in the Federal Register on June 30, 2016, an interim final rule to adjust for inflation the civil monetary penalties enforceable by the Department of Labor. The information below from the DOL describes the adjustments made...
by David Torrillo | Jul 5, 2016 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
Determination Program On June 29, 2016, Revenue Procedure 2016-37, generally effective January 1, 2017, was released changing the: Determination Letter Program for tax-qualified individually designed plans (IDPs); and Requirements for when plan amendments must be...
