IRS Issues
Though final regulations are still pending, the Department of Treasury and IRS have essentially reaffirmed guidance for DC plans on required minimum distributions (RMDs), addressing questions surrounding the 10-year distribution rules under the SECURE Act and providing relief for certain...
READ MORE
Tech Talk discusses whether a particular group of public healthcare districts can maintain 403(b) plans.
READ MORE
The IRS on Sept. 26 in Notice 2022-45 announced that it is extending the deadline by which IRAs and non-governmental 403(b)s must be amended under the CARES Act and the Taxpayer Certainty and Disaster Tax Relief Act of 2020.
CARES Act and Relief Act
Specifically, the deadline is extended under...
READ MORE
Tech Talk discusses a blog entry that provides a reminder concerning when one is considered a fiduciary and what functions help identify a party as one.
READ MORE
Tech Talk offers suggestions regarding documents related to plan participants that must be kept indefinitely while a plan is functioning.
READ MORE
Retaining and maintaining records is not a minor matter—ERISA and Department of Labor (DOL) regulations make that clear. In MarketBeat, John Iekel writes about a plan administrator who observes that regardless of their importance, policies concerning record retention and maintenance are not as...
READ MORE
The 2023 NTSA Summit — Feb. 26-28, 2023, at the Grand Hyatt Tampa, in Tampa Bay, Florida — is the only industry event designed for 403(b) and 457(b) professionals.
But it gets better!
You can expect tailored general sessions and workshops based on advisor feedback we received from the agenda...
READ MORE
Tech Talk discusses the importance of retaining and maintaining records and tips for performing that function.
READ MORE
Compliance with the rules and regulations governing plan documents can be complicated and is always important, writes John Iekel in MarketBeat in discussing the insights of an industry expert on the importance of taking action if there has been a plan document failure.
READ MORE
As previously reported, IRS Notice 2022-33 extends the deadline for employers to adopt plan amendments for the SECURE Act as well as the required minimum distribution (RMD) provisions of the CARES Act.[1] We’ve heard that many providers are moving forward with amendments for these provisions...
READ MORE
Tech Talk addresses what documents are especially helpful to keep.
READ MORE
Plan documents are the “lifeblood” of compliance, asserted John P. Griffin, JD, LLM Principal at the ASC Institute in a webinar. John Iekel writes in MarketBeat that Griffin noted that plan documents “drive communication, they drive compliance.”
READ MORE
Tech Talk discusses plan document requirements and what key regulatory practices do or do not apply to 457(b) plans for governmental and tax-exempt organizations.
READ MORE
The July 31, 2022, deadline for restating pre-approved 401(k) plans has come and gone. If a plan missed that deadline, now what? A recent blog entry offers some suggestions.
July 31 was the deadline for the latest plan remedial amendment cycle (Cycle 3). In a recent entry in the JacksonLewis blog...
READ MORE
The IRS on Aug. 3 announced in Notice 2022-33 that it is extending the deadline for amending a retirement plan to reflect the provisions of Section 2203 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Section 2203 concerns a waiver of required minimum distributions (RMDs). ...
READ MORE
Tech Talk discusses the pre-approved 403(b) plan procedures the IRS sets in Revenue Procedure (Rev. Proc.) 2021-37.
READ MORE
Tech Talk provides plan document tips for 403(b) individually designed plans.
READ MORE
Oops! I did it again…
No matter how hard we try, there are mistakes we are doomed to make again and again, even when we know the rules all too well. The reasons are valid, and they are countless: mindlessness, being in a rush, employee turnover, deadlines, distractions, the complexity of the rules...
READ MORE
Basic rule: General 457 annual contribution limit
There is one limit on the amount of contributions an individual may defer to an eligible 457(b) deferred compensation plan in a taxable year: The annual limit on contributions under Internal Revenue Code Section 457(b)(2).
Under Section 457(b)(2...
READ MORE
Tech Talk discusses whether there are any provisions that are optional for a 457 plan.
READ MORE
Pages
Most Popular
