by David Torrillo | Sep 25, 2023 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The DOL’s EFAST2 website authentication process is being modernized in 2023. As part of this modernization, DOL is phasing out the existing method of logging in to the EFAST2 website with an EFAST2-issued User ID and password. Read...
by David Torrillo | May 26, 2023 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
Recently the Internal Revenue Service released Notice 2023-43 which provides guidance on section 305 of the SECURE 2.0 Act of 2022 with respect to the expansion of the Employee Plans Compliance Resolution System (EPCRS). Read...
by David Torrillo | May 23, 2023 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
In February of 2023, the IRS proposed regulations relating to the use of forfeitures. This would generally require that plan administrators use forfeitures no later than 12 months after the close of the plan year in which the forfeitures are incurred. Read...
by David Torrillo | Dec 26, 2022 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
SECURE 2.0 Act of 2022 was passed by Congress as part of the year-end omnibus bill. It builds upon the reforms included in the Setting Every Community Up For Retirement (SECURE ) Act of 2019. Read...
by David Torrillo | Oct 24, 2022 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Internal Revenue Service announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. The IRS also announced cost of living adjustments affecting dollar limitations for pension plans and...
