IRS Guidance: Pension-Linked Emergency Savings Accounts (PLESA)
Compliance Dashboard » 401k
by Peter Iverson, Esq.
3M ago
On January 12, 2024, the IRS issued Notice 2024-22, initial guidance on emergency savings accounts linked to 401(k) plans under the SECURE 2.0 Act. The new provisions, effective for plan ..read more
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SECURE 2.0 Guidance Addresses Designated Roth Contributions
Compliance Dashboard » 401k
by Peter Iverson, Esq.
3M ago
This is the second of two blogs on IRS Notice 2024-2. (Check out the first blog here!)This notice provided welcome guidance on a select number of provisions affecting 401(k) plans ..read more
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IRS SECURE 2.0 Act Guidance Addresses Auto-Enrollment, Other Topics
Compliance Dashboard » 401k
by Peter Iverson, Esq.
3M ago
As we have previously reported, the IRS released Notice 2024-2 on December 20, 2023, providing welcome guidance on a select number of provisions affecting qualified retirement plans, including 401(k) plans ..read more
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Form 5558 Electronic Filing Postponed
Compliance Dashboard » 401k
by Peter Iverson, Esq.
3M ago
After a bit of rumor and speculation, the IRS has announced on its website that, due to administrative issues involving the EFAST2 system, IRS Form 5558 will not be able ..read more
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IRS Issues Guidance on Certain Secure 2.0 Act Provisions
Compliance Dashboard » 401k
by Peter Iverson, Esq.
3M ago
On December 20, 2023, the IRS released Notice 2024-2 which provides welcome guidance on a number of provisions affecting qualified retirement plans, including 401(k) plans, under the SECURE 2.0 Act ..read more
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IRS Extends Amendment Deadline for Recent New Laws
Compliance Dashboard » 401k
by Peter Iverson, Esq.
4M ago
The IRS announced in Notice 2024-2 that the amendment deadline most qualified retirement plans, including 401(k) plans, for several recent pieces of federal legislation generally has been extended by up ..read more
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IRS 2023 Required Amendments (RA) List Calls For No Changes
Compliance Dashboard » 401k
by Peter Iverson, Esq.
4M ago
On November 8, 2023, the IRS released Notice 2023-79, its annual list of required amendments (“RA List”) for individually designed qualified retirement plans, including 401(k) plans. In good news for ..read more
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Long-Term, Part-Time Employee (LTPTE) Regulations Proposed by IRS
Compliance Dashboard » 401k
by Peter Iverson, Esq.
4M ago
On November 27, 2023, the IRS released proposed regulations addressing the new rules for long-term, part-time employees (“LTPTEs”) under tax-qualified retirement plans, including 401(k) plans. The new rules were introduced ..read more
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2024 Adjusted Dollar Limits for 401(k) Plans Released by IRS
Compliance Dashboard » 401k
by Peter Iverson, Esq.
6M ago
The IRS recently released its annual notice, Notice 2023-75, outlining adjusted dollar limits for contributions and benefits under qualified retirement plans, including 401(k) plans. The new limits will go into ..read more
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Retirement Plan Assistance for Domestic Abuse Survivors
Compliance Dashboard » 401k
by Brooke Salazar, JD
6M ago
To better assist domestic abuse survivors, retirement plan administrators may consider amending their plan for 2024.  Section 314 of the SECURE 2.0 Act beginning in 2024 allows a participant who ..read more
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