In the June 3 issue of Employee Plans News, the Internal Revenue Service announced a pilot program to give employers whose qualified retirement plans have been selected for audit a 90-day window during which they are...more
On June 29, 2020, the IRS released additional guidance to help employers cope with the financial strain of the COVID-19 pandemic. This time, in Notice 2020-52, the IRS has clarified, and in some cases temporarily relaxed,...more
On May 12, 2020, in Notice 2020-29, the IRS substantially relaxed and simplified cafeteria plan election-change and grace-period rules....more
In a previous alert, IRS Adopts Final Regulations Changing Hardship Distributions, we analyzed the IRS’s recently issued final hardship distribution regulations....more
Most Employers Need to Make Plan Document and Administrative Changes -
In late 2018, the Internal Revenue Service (“IRS) proposed changes to the 401(k) regulations governing hardship distributions....more