by David Torrillo | Apr 6, 2021 | Employee Benefit Plans, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Tax Exempt and Government Entities (TE/GE) Fiscal Year 2021 Program Letter PDF lists IRS priorities and how those align with the IRS Strategic Goals. In fiscal year 2021, the IRS will continue to pursue its compliance program described in its FY 2020 Program...
by David Torrillo | Mar 10, 2021 | Employee Benefit Plans, Forms and Procedures, Policy Updates
The American Rescue Plan Act of 2021 (ARPA, HR 1319) is expected to become law. Key benefit plan provisions[i] are highlighted below. Many of these affect funding provisions for defined benefit plans. Read...
by David Torrillo | Feb 17, 2021 | Employee Benefit Plans, Forms and Procedures
The IRS has stated that Plan sponsors do not need to take further action if they are currently receiving Notice CP 216F, Approval of Extension to file Form 5500 Series Return, for calendar year 2019 Forms 5500 series returns, after the final return for 2019 has been...
by David Torrillo | Dec 16, 2020 | Employee Benefit Plans, News and Press Releases, Policy Updates
In Notice 2020-85, the IRS specifies updated mortality improvement rates and static mortality tables to be used for defined benefit pension plans. These updated mortality improvement rates and static tables apply for purposes of calculating the funding target and...
by David Torrillo | Dec 10, 2020 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
The Internal Revenue Service recently issued Notice 2020-86 addressing certain provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) affecting safe harbor plans, including safe harbor 401(k) plans and certain 403(b) plans....
