by David Torrillo | Jan 14, 2025 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Department of the Treasury and the Internal Revenue Service issued on January 10, 2025 proposed regulations addressing several SECURE 2.0 Act provisions relating to catch-up contributions, which are additional contributions under a 401(k) or similar workplace...
by David Torrillo | Dec 7, 2024 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
Notice 2024-82 sets forth the 2024 Required Amendments List (2024 RA List). The Required Amendments List (RA List) applies to individually designed plans qualified under section 401(a) of the Internal Revenue Code (Code) (qualified individually designed plans) and...
by David Torrillo | Nov 19, 2024 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
On November 18, 2024, the U.S. Department of Labor’s Employee Benefits Security Administration issued a notice requesting information from retirement plan administrators that will allow it to begin populating the Retirement Savings Lost and Found database, an online...
by David Torrillo | Nov 1, 2024 | Employee Benefit Plans, News and Press Releases, Retirement - 401(k), 403(b)
The Internal Revenue Service announced November 1, 2024 that the amount individuals can contribute to their 401(k) plans in 2025 has increased to $23,500, up from $23,000 for 2024. The IRS also issued technical guidance regarding all of the cost of living adjustments...
by David Torrillo | Oct 16, 2024 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
Internal Revenue Service (IRS) Notice 2024-77, “Guidance Under Sections 414(aa) and 402(c)(12) of the Internal Revenue Code with Respect to Inadvertent Benefit Overpayments” provides interim guidance on the treatment of inadvertent benefit overpayments under the...
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...
