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The IRS has issued proposed regulations that provide rules for federal income tax withholding on certain periodic retirement and annuity payments. The proposed regs would implement changes Section 11041(c)(2)(G) of the Tax Cuts and Jobs Act (TCJA) made to Internal Revenue Code Section 3405(a)(4)...
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Long weekend notwithstanding, chances are you’ve not yet delved deeply into the Labor Department’s final rule on default electronic disclosure. Regardless, here are some things you might have missed.
The much-anticipated final rule was rolled out early on the morning of May 21. While “...
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In the second installment of a two-part MarketBeat series on employee saving behavior, John Iekel discusses steps plan sponsors, employers and individuals can take that will ameliorate behaviors that harm or impair retirement readiness, or even arrest and change them. Part I is available here.
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Tech Talk concerns whether employees can get a hardship distributions from their 403(b) accounts.
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The House of Representatives plans to vote next week on stand-alone legislation that would ease the rules for businesses taking advantage of the Paycheck Protection Program.
While still encouraging the Senate to take up the massive $3 trillion HEROES Act passed by the House last week, House...
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The Labor Department wants you (and your clients) to stop including Personal Identifiable Information (PII) on Form 5500 filings.
Scott C. Albert, QPA, Chief of the DOL’s Division of Reporting Compliance, explains that the agency makes the information in Forms 5500/5500-SF available to the public...
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The NTSA Richard Ford Volunteer Service Award is established in honor of the unique, lifelong volunteer efforts of Richard Ford, a lively and dedicated NTSA volunteer since the NTSA's establishment ; it honors and promotes NTSA members’ volunteer and service work. In Part I of a special, three-part...
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Acknowledging that technology has made significant strides over the past two decades—and that many Americans are working remotely during the COVID crisis—the Labor Department has finalized a new safe harbor for electronic disclosures.
The final rule adopted today is “fundamentally similar” to the...
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Both chambers of the New Jersey legislature are considering legislation that would exclude 403(b) and 457(b) deferrals from New Jersey state income tax.
In the Assembly, A4112 was introduced by Assemblyman Ronald Dancer (R-Cream Ridge) on May 7. It was referred to the Assembly Appropriations...
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Plan administration can be overwhelming to an employer. There are many moving parts to the day-to-day administration of a 403(b) plan. Here are some basic rules to follow:
Follow the terms of the plan. Employers must operate their 403(b) plans according to their written programs or the plans...
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Recent Comments
Does the roth requirement for catch-up contributions for people who earned $145,000 apply to 457...
Hi Ed,
I really liked this article and I think you make a lot of sense. And I had no...
I believe there's a misstatement in that last quote - it should refer to governmental and...
Working with several medical providers as clients, I note that the high-end earners tend to push...
Congratulations to NTSAA for landing a good one. Nathan's breadth of experience and...