On December 20, 2023, the IRS issued Notice 2024-2, which provides question-and-answer guidance on various aspects of the SECURE 2.0 Act. This post focuses on the “de minimis financial incentives” under SECURE 2.0 Act Section...more
12/28/2023
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
De Minimus Quantity Exemption ,
Defined Contribution Plans ,
Employee Benefits ,
Incentives ,
IRS ,
New Guidance ,
Retirement Plan ,
SECURE Act
The Internal Revenue Service (IRS) has announced that beginning June 1, 2023, it will accept determination letter applications for individually designed 403(b) retirement plans. As background, 403(b) plans are a distinct type...more
In response to the current economic crisis caused by COVID-19, many companies are considering cost-savings measures to improve their companies’ financial stability. One such cost-saving option is the reduction or suspension...more