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401k › Incentives › Benefit Plan Sponsors

Davis Wright Tremaine LLP

SECURE 2.0 Medley – IRS and DOL Guidance for Plan Sponsors on Recent Changes

Davis Wright Tremaine LLP on

The Internal Revenue Service and U.S. Department of Labor recently issued guidance on various aspects of the Consolidated Appropriations Act of 2023, commonly referred to as SECURE 2.0. Below is a summary of key provisions...more

Proskauer - Employee Benefits & Executive...

Notice 2024-02: IRS Offers Guidance on (Some) SECURE 2.0 Questions

Proskauer - Employee Benefits & Executive... on

Approximately one year after Congress enacted the SECURE 2.0 Act of 2022 (“SECURE 2.0”), the IRS issued Notice 2024-02, which addresses SECURE 2.0 implementation issues and extends the plan amendment deadline. Although...more

McAfee & Taft

New guidance answers questions for retirement plan sponsors

McAfee & Taft on

In late December 2023, the Internal Revenue Service provided additional guidance in the form of questions and answers (“Q&As”) with respect to certain key qualified retirement plan provisions of the Consolidated...more

Faegre Drinker Biddle & Reath LLP

De Minimis Financial Incentives to Participate in a 401(k) or 403(b) Plan

Faegre Drinker Biddle & Reath LLP on

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

Faegre Drinker Biddle & Reath LLP

The SECURE Act 2.0: The Most Impactful Provisions #8 — Financial Incentives for Participants for Deferrals

Faegre Drinker Biddle & Reath LLP on

Prior to the SECURE Act 2.0 the only financial incentive for a participant to make a deferral was a matching contribution. However, the new law permits “de minimus” non-cash incentives for beginning participation or...more

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