by David Torrillo | Dec 15, 2017 | Employee Benefit Plans, Forms and Procedures, News and Press Releases
In Notice 2018-2, IRS has provided updated mortality improvement rates and static mortality tables to be used for defined benefit (DB) pension plans under Code Sec. 430(h)(3)(A) and §303(h)(3)(A) of the Employee Retirement Income Security Act of 1974 (ERISA), which...
by David Torrillo | Nov 3, 2017 | Employee Benefit Plans, Forms and Procedures, Retirement - 401(k), 403(b)
The IRS’s Tax Exempt and Government Entities Division has issued a memo in which it instructs its examiners not to challenge a qualified plan that can’t locate a retired participant, for failing to meet the required minimum distribution (RMD) standards, if the...
by David Torrillo | Oct 19, 2017 | 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...
by David Torrillo | Oct 5, 2017 | Employee Benefit Plans, News and Press Releases, Policy Updates
Pension plans for funding purposes are required to use prescribed mortality tables by the IRS. As expected, these were recently updated by the IRS and will be in effect for 2018. Read...
by David Torrillo | Oct 3, 2017 | 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...
