(b)lines Ask the Experts – Relief for Excluding Employees From 403(b) Plans
Experts from Groom Law Group and Cammack Retirement Group answer questions concerning 403(b) plans and regulations.
Tag: Internal Revenue Service (IRS)
2019 Contribution/Benefit Limits Updated for Puerto Rico Employers
The Puerto Rico Department of the Treasury has published its 2019 limits on qualified retirement plan contributions and benefits.
IRS Adds ‘Other Circumstances’ to Instances for Which Determination Letter Requests Can Be Made
Previously, the IRS said a plan can request a determination letter only if it has never received a letter before;...
A Look Back at Important 2018 Regulatory Developments
Plan sponsors faced another year of rapid regulatory change in 2018, with important developments coming out of the DOL, IRS...
IRS Provides Do-Over for 403(b) Plans Not Following Once-In-Always-In Condition
Industry comment letters argued that many 403(b) plan sponsors were unaware of the rule that once a part-time employee is...
No Entries in 2018 Required Amendments List
In general, the Required Amendments List includes statutory and administrative changes in qualification requirements for individually designed retirement plans that...
Strategies for DC Plans to Mitigate Risks in 2019
Willis Towers Watson offers nine actions for DC plan sponsors to mitigate risks in 2019.
Retirement Plan ERISA Litigation Trends Still Heating Up
It has only been about a year and a half since large U.S. universities became the target of ERISA lawsuits,...
Regulators Release Informational Copies of 2018 Form 5500
Modifications to the Form 5500 and Form 5500-SF and their schedules and instructions have been highlighted.
IRS Proposes Amendments to Hardship Withdrawal Regulations
If the proposed rules are finalized, there would be no more suspension of deferrals after a hardship withdrawal or requirement...
IRS Announces Contribution and Benefit Limits for 2019
The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan...
IRS Identifies Retirement Plan Compliance Strategies for 2019
The agency will give greater scrutiny to retirement plan distributions and 403(b) universal availability rules, among other things.
Sponsors Must Submit IRS Voluntary Correction Program Docs Digitally
According to IRS Revenue Procedure 2018-52, in general, beginning April 1, 2019, plan sponsors must use the www.pay.gov website when...
IRS Modifies Safe Harbor Explanations for Rollovers
The modifications take into consideration changes related to qualified plan loan offsets and other statutory changes.
Many RESA Provisions Included in ‘Tax Reform 2.0’
One of three bills introduced this week as part of “Tax Reform 2.0,” the Family Savings Act includes many of...
President Trump Orders Review of Open MEPs, RMD Rules
President Trump on Friday called on the Department of Labor to consider the pros and cons of allowing small businesses...
Mercer Makes Recommendations for Finding Missing Participants
If there are missing participants that plan sponsors have not made a genuine effort to find, “the entire plan could...
ERIC Asks IRS for Revenue Ruling on Student Loan Repayment Benefit
The IRS recently issued a private letter ruling approving a student loan repayment benefit within a retirement plan; ERIC wants...
IRS Again Extends Closed DB Plan Nondiscrimination Relief
The IRS and the Treasury Department have extended nondiscrimination relief for closed defined benefit plans for an additional year.
Gen X and Gen Y Making Sacrifices to Save More for Retirement
Many Gen Xers and Gen Yers deferred 90% or more of the Internal Revenue Service (IRS) maximum allowance for contributions...