by David Torrillo | Sep 9, 2024 | Employee Benefit Plans, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
In its continuing effort to protect U.S. workers’ retirement and health benefits, the U.S. Department of Labor updated current cybersecurity guidance confirming that it applies to all types of plans governed by the Employee Retirement Income Security Act, including...
by David Torrillo | Sep 9, 2024 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Internal Revenue Service reminds businesses that starting in tax year 2023 changes under the SECURE 2.0 Act may affect the amounts they need to report on their Forms W-2. The SECURE 2.0 Act allows for additional features in various employer retirement plans to...
by David Torrillo | Jun 21, 2024 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Internal Revenue Service recently issued Notice 2024-55, which provides guidance on exceptions to the additional tax when taking early permissible retirement plan distributions for emergency personal expenses and for victims of domestic abuse. Exceptions to the...
by David Torrillo | Apr 23, 2024 | Employee Benefit Plans, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
On April 23, 2024, the U.S. Department of Labor released the Retirement Security Rule defining who is an investment advice fiduciary for purposes of the Employee Retirement Income Security Act (ERISA). The Department also released final amendments to class prohibited...
by David Torrillo | Jan 13, 2024 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Internal Revenue Service has issued initial guidance to help employers with implementation of pension-linked emergency savings accounts (PLESAs). Authorized under the SECURE 2.0 Act of 2022, PLESAs are individual accounts in defined contribution plans. They are...
by David Torrillo | Dec 22, 2023 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
Notice 2024-2 provides additional guidance on several provisions of Secure 2,0 Act. This notice provides guidance in the form of questions and answers with respect to certain provisions of the SECURE 2.0 Act of 2022. Notice 2024-2 addresses issues under the following...
