Compliance | October 17th, 2018 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.
Compliance | October 1st, 2018 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...
Compliance | September 24th, 2018 IRS Modifies Safe Harbor Explanations for Rollovers The modifications take into consideration changes related to qualified plan loan offsets and other statutory changes.
Compliance | September 11th, 2018 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...
Compliance | August 31st, 2018 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...
Administration | August 31st, 2018 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...
Compliance | August 30th, 2018 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...
Data and Research | August 23rd, 2018 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...
Compliance | August 20th, 2018 IRS Extends Date for Opinion Letters for Third Remedial Amendment Cycle The IRS notes that Rev. Proc. 2017-41 modified the pre-approved letter program by combining the master & prototype and volume...
Compliance | August 20th, 2018 IRS Approves Plan Sponsor’s Student Loan Repayment Benefit in 401(k) Plan Because participants receiving a student loan repayment non-elective contribution can still make deferrals to the 401(k) plan and receipt of...
Compliance | August 8th, 2018 All 403(b) Plan Sponsors Should Focus on Document Remedial Amendment Period 403(b) plan sponsors have until March 31, 2020, to adopt a pre-approved plan document and to make sure their plan...
Compliance | August 6th, 2018 Pace of EBSA Settlements and Plan Corrections Is Strong “On the retirement side, again, there is a strong focus on missing participants, and EBSA is diving incredibly deep," says...
Compliance | July 27th, 2018 ERIC Calls Foul in DOL’s Missing Participant Push In an open letter asking for more detailed guidance, the ERISA Industry Committee spells out what it says are “examples...
Compliance | July 16th, 2018 Sifting Through Retirement Plan Regulations Understanding the hierarchy of regulations and how plan sponsors should interpret seemingly conflicting ones.
Compliance | July 12th, 2018 Church Plan Operating Under Rules of ERISA Has Not Elected to Be an ERISA Plan Since the Supreme Court decision about the definition of church plan under the Employee Retirement Income Security Act, the Internal...
Compliance | July 3rd, 2018 PBGC Sets Disaster Relief on IRS Autopilot With some exceptions, PBGC premium payers and data providers can now assume filing relief from the pension insurer in each...
Compliance | July 2nd, 2018 Considerations for Changing the Interest Crediting Rate in a Cash Balance Plan In an issue snapshot, the Internal Revenue Service (IRS) discusses when a cash balance plan amendment reduces (or potentially reduces)...
Compliance | June 29th, 2018 IRS and DOL Asked for Better Guidance on Missing Participants The Plan Sponsor Council of America has heard concerns from its members that they have been or may be subjected...
Administration | June 29th, 2018 Administration Basics: What Is a Strategic DB Plan Termination? Experts with cash balance plan design and administration provider Kravitz define the concept of strategic plan termination—what the pros and...
Compliance | June 26th, 2018 Groom Law Group to IRS: More Plan Types Need Determination Letters Under the restricted determination letter program created by IRS Revenue Procedure 2016-37, a plan can now request a determination letter...