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IRS Announces 2018 Pension Plan Limitations; 401(k) Contribution Limit Increases to $18,500 for 2018

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David Torrillo
Thursday, October, 19, 2017 / Published in Employee Benefit Plans, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Internal Revenue Service recently announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2018, including that the 401(k) contribution limit increases to $18,500 for 2018.  Read More
401(k)403(b)Defined Benefit PlansIRSPension Plansretirement savings

Disaster Tax Relief for Retirement Plans

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David Torrillo
Tuesday, October, 03, 2017 / Published in Employee Benefit Plans, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
President Trump signed into law H.R. 3823, the “Disaster Tax Relief and Airport and Airway Extension Act of 2017”, which delivers temporary tax relief for retirement plans as well as other tax relief to the victims of Hurricanes Harvey, Irma, and Maria while reauthorizing the Federal Aviation Administration (FAA) for six months. Read More
401(k)403(b)IRSretirement savings

Plans Can Make Loans, Hardship Distributions to Victims of Hurricane Irma & Harvey

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David Torrillo
Wednesday, August, 30, 2017 / Published in Employee Benefit Plans, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Internal Revenue Service announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Irma and Harvey and members of their families. This is similar to relief provided last year to Louisiana flood victims and victims of Hurricane Matthew. Read More
401(k)403(b)IRS

Fiduciary Rule Law as of June 9, 2017 but DOL will not Enforce until January 1, 2018 as it Seeks Pubic Input on the Rule, Considers Changes and Additional Delays

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David Torrillo
Tuesday, May, 23, 2017 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates
On May 22, 2017 Alexander Acosta, the Secretary of the Department of Labor (“DOL”) wrote an opinion piece in the Wall Street Journal on the Fiduciary Rule. In it he states: “The Labor Department has concluded that it is necessary to seek additional public input on the entire Fiduciary Rule, and we will do so.
401(k)403(b)DOLEBSAEnforcement prioritiesFiduciary RulePlan Fiduciary UpdateRegulatory Priorities

Proposed Statement on Auditing Standards, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA

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David Torrillo
Thursday, April, 20, 2017 / Published in Employee Benefit Plans, News and Press Releases, Retirement - 401(k), 403(b)
On April 20, 2017, the AICPA Auditing Standards Board issued an exposure draft, Proposed Statement on Auditing Standards (SAS), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. Read More
401(k)403(b)AuditAudit QualityBenefit Plan AuditDefined Benefit PlansPension PlansProposed Auditing Standard

US LABOR DEPARTMENT EXTENDS FIDUCIARY RULE APPLICABILITY DATE

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David Torrillo
Wednesday, April, 05, 2017 / Published in Employee Benefit Plans, News and Press Releases
The U.S. Department of Labor has announced a 60-day extension of the applicability dates of the fiduciary rule and related exemptions, including the Best Interest Contract Exemption. The announcement follows a Feb. Read More
401(k)403(b)DOLEBSAPlan Fiduciary Update

The DOL’s Advisory Council on Employee Welfare and Pension Benefit Plans Issues Report on Cybersecurity Considerations for Benefit Plans

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David Torrillo
Friday, February, 10, 2017 / Published in Employee Benefit Plans, News and Press Releases
The DOL’s Advisory Council on Employee Welfare and Pension Benefit Plans (known as the DOL ERISA Advisory Council) issued a report, Cybersecurity Considerations for Benefit, which summarizes its examination of and recommendations regarding cybersecurity considerations as they relate to pension and welfare benefit plans. Read More
403(b)CybersecurityDefined Benefit PlansDOLEBSAPension Plans
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Recent Posts

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  • Policy Updates
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Torrillo & Associates, LLC specializes in employee benefit plan audits, 401k audits, 403b audits, pension plan audits, and retirement plan audits. We are licensed in 7 states including New York, New Jersey, and Pennsylvania.  With firm mobility, we are also able to practice in an additional 27 states.

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Glen Mills, PA 19342

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