IRS Issues
The IRS has updated the information it provides concerning written plan requirements for 457(b) deferred compensation plans.
Generally, for years beginning after Dec. 31, 2001, an eligible deferred compensation plan under Code Section 457(b) must meet written plan document requirements.
In its...
READ MORE
This is a pretty exciting time in the defined contribution plan marketplace. Years of work from a number of different quarters seem to be finally beginning to coalesce around the notion of sanely “decumulating” assets from DC plans. I wonder if a measure of all this may be the growing catalog of...
READ MORE
The NTSA traditionally offers access to a recording of a webcast (including both audio and visual portions of the presentation) approximately one week following the original live webcast presentation. These recordings are available for 1 year after the date of the original live webcast. Below is a...
READ MORE
There are many reasons that errors in plan operation may take place. In MarketBeat, John Iekel writes about the insights of an industry expert who lays some of the blame on disconnection between the way a plan defines compensation and the way it functions.
READ MORE
The IRS has updated the information it provides on the expansion of rollover options, which includes SIMPLE IRA plans.
The information is contained in an issue snapshot that describes the change made by the Protecting Americans from Tax Hikes Act (PATH) of 2015 to Code Section 408(p) to allow...
READ MORE
Tech Talk offers a look at the basics of what plans are offered by whom and what their features are.
READ MORE
The Senate wrapped up its work for the summer Aug. 10, approving a $1.2 trillion infrastructure bill that extends pension smoothing relief for single-employer plan sponsors, as well as a $3.5 trillion budget outline that sets the stage for a broader tax and spending bill later this fall.
The...
READ MORE
The IRS has updated the information it provides concerning the universal availability requirement for 403(b) plans. The information is contained on the IRS website, with hyperlinks to additional resources.
The Rule
Regarding elective deferrals, a 403(b) plan must meet the requirements of...
READ MORE
Tech Talk provides tips on how to make sure plan procedures are meeting its needs and are in compliance.
READ MORE
The IRS has proposed electronic filing requirements for some information returns and other documents, including returns and documents relevant to retirement plans.
The IRS is proposing regulations that would amend the rules for filing electronically. This would affect persons required to file...
READ MORE
The IRS on July 22 updated the Voluntary Compliance Program for plan sponsors that are ineligible to sponsor a SIMPLE IRA plan. More specifically, they have updated the VCP Submission Kit.
Plan sponsors may use the VCP Submission Kit if they are ineligible to sponsor a SIMPLE IRA plan because...
READ MORE
Brian Graff, CEO of the American Retirement Association, is set to appear next week before Congress to advocate for the retirement policy priorities of the ARA.
The hearing, entitled “Building on Bipartisan Retirement Legislation: How Can Congress Help?,” is scheduled for Wednesday, July 28, at 10...
READ MORE
A coalition of representatives of the IRS, the software industry, tax preparers, payroll and tax financial product processors and state tax administrators are urging the use of multi-factor authentication.
Those representatives—numbering 62 state and private-sector offices as well as the IRS and...
READ MORE
On July 16 the IRS released Revenue Procedure (Rev. Proc.) 2021-30, and with it a series of updates that plan sponsors and those working to correct plan failures will find of interest, including two new benefit overpayment correction methods.
The IRS noted that the two new overpayment correction...
READ MORE
We’ve heard concerns from a number of members lately that the IRS is planning to refer more VCP applicants for audit—and we have an update.
More specifically, we’ve heard about situations that suggest that plan sponsors who submit Voluntary Correction Program applications might be referred for...
READ MORE
There have been many changes in the last year in the rules governing distributions, rollovers, loans and more. A workshop in the recent NTSA Summit offered a detailed look at those changes.
In “Navigating the New Minefield of Distributions, Repayments/Rollovers, & Loans,” Susan Jennings, an...
READ MORE
There is a broad array of plans from which an employer and plan sponsor can choose. In a 2021 NTSA Summit workshop session, an industry expert offered an overview, with a special focus on 430(b) and 457 plans.
Nathan Glassey, Vice President, National Benefit Services, set the table by looking at...
READ MORE
The IRS on June 24 announced that it is extending for a year temporary relief from the physical presence requirement for participant elections that must be witnessed by a plan representative or a notary public. The relief comes in Notice 2021-40 and is in response to the continuing COVID-19...
READ MORE
Have you registered for the NTSA Virtual Summit? If not, this week is your last chance! This year’s sessions will include:
The state of the retirement markets — hosted by Mr. 403(b)!
Using retirement funds to pay for living expenses during hardship.
How to attract, motivate, and retain...
READ MORE
In a recent webinar, Kelsey Mayo, ASEA Director of Regulatory Policy and Partner at Poyner & Spruill LLP, took a look at the basics about plan freezes and terminations in the context of current circumstances and regulations. The discussion included terminating a DC plan.
A DC plan can be...
READ MORE
Pages
Most Popular
