Department of Labor Announces Final Form 5500 Changes
The changes to Form 5500 for defined contribution and defined benefit plans are modest.
Tag: IRS
IRS Again Extends Physical Presence Requirement Relief
The agency is still considering whether to make permanent relief from the requirement for certain elections to be witnessed in...
New Limits for HSAs to Account for Inflation Growth
The limit for individuals with self-only coverage will increase by $200, and the limit for those with family coverage will...
Some New RMD Rules Creating Confusion for Participants and Beneficiaries
Retirement plan sponsors cannot give advice, but they’ll likely get questions about distributions from inherited accounts.
IRS Publishes Additional 403(b) Plan Document Guidance
An information package contains a listing of required modifications and sample language for nearly any provision a plan might include.
Proposed RMD Rules for 403(b)s Could Mean Big Changes
A change to how required minimum distributions are taken from 403(b) contracts might call for changing recordkeeping systems and dusting...
IRS Proposes Regulations Updating MEP ‘One Bad Apple’ Rule
In certain cases, the portion of a multiple employer plan attributable to a participating employer’s failure to meet plan qualification...
IRS Issues 2022 Cumulative List for 403(b) Plans
It identifies changes in the requirements of Section 403(b) of the Internal Revenue Code that the agency will take into...
2022 ERISA Plan Compliance Calendar
A schedule to help plan sponsors track important due dates for their plan
Senators Ask IRS to Examine Policies on Survivors’ Pension Benefits
They say current regulatory guidance has led to members of the LGBTQIA+ community being denied survivor benefits after losing their...
IRS Issues 2021 Required Amendments List
The changes in requirements that would necessitate an amendment relate to the special financial assistance (SFA) program for financially troubled...
2021 Best Practices Conference: Understanding ERISA and Fiduciary Fundamentals
Attendees at the virtual conference learned about what it takes to operate a plan that complies with all regulatory responsibilities...
IRS Announces 2022 Retirement Plan Contribution and Benefit Limits
Most defined contribution plan participants can defer up to $20,500 to plans in 2022.
Getting Retirement Plan Help From the IRS
Retirement plan sponsors have several avenues for getting help from the IRS with general questions, technical issues and corrections.
IRS Issue Snapshot Reflects Changes to Hardship Withdrawal Rules
Though the document addresses changes for 401(k) plans, all but one of them applies to 403(b) plans as well.
Deemed Distributions Can Be Triggered by More Than Just Loan Nonpayment
The IRS reminds retirement plan sponsors of rules that, if broken, can result in loan amounts being deemed distributions.
IRS Addresses Labor Shortages With FAQs About Rehiring Retirees
The agency has issued two FAQ documents addressing pension plan rules when rehiring retirees and says federal departments are holding...
IRS Issues Reminder About Special 415 Limit Rule for Certain 403(b) Plan Participants
If a 403(b) plan participant also sponsors a plan to which he contributes, the plans must satisfy the annual additions...
DOL Asks for Comments on Proposed Changes to Form 5500
The agency—which says the revisions are needed to implement provisions of the SECURE Act—has also published a notice of proposed...
IRS Issues Procedures for 403(b) Plan Remedial Amendment Cycle 2
The IRS says it is modifying the procedures for the 403(b) pre-approved plan program to be more similar to those...