News & Analysis as of

Retirement Plan Individual Retirement Account (IRA) Defined Contribution Plans

Williams Mullen

Benefit and Contribution Limits for 2025

Williams Mullen on

The Commissioner of Internal Revenue announced the 2025 dollar limitations for benefits and contributions that apply to retirement plans. The Social Security Administration increased the Social Security taxable wage base....more

Patterson Belknap Webb & Tyler LLP

Extended Relief for Required Minimum Distributions in 2024

Five years ago, the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) made several significant changes to certain distributions required pursuant to Internal Revenue Code (“Code”) Section...more

Faegre Drinker Biddle & Reath LLP

The SECURE Act 2.0: The Most Impactful Provisions #6 – Tax Credits for Administrative and Contribution Costs for New Plans for...

The President signed the Consolidated Appropriations Act, which included SECURE Act 2.0, on December 29, 2022. SECURE Act 2.0 has over 90 provisions, some major and some minor; some mandatory and some optional; some...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Announces 2022 Limitations for Qualified Retirement Plans: Prices Aren’t the Only Thing Going Up

On November 4, 2021, the Internal Revenue Service (IRS) released the 2022 dollar limitations that apply to tax-qualified retirement plans. With few exceptions, the 2022 limitations published in Notice 2021-61 have been...more

Faegre Drinker Biddle & Reath LLP

SECURE Act 2.0: What Defined Contribution Plan Sponsors Need to Know

With SECURE Act 1.0 (officially titled “Setting Every Community Up for Retirement Enhancement Act”) still being implemented by many plan sponsors, Congress is now considering a new package of laws designed to help close the...more

Seyfarth Shaw LLP

Extended Loan Rollover Timeline: More Flexibility for Participants and More Complexity for Plan Administrators

Seyfarth Shaw LLP on

Seyfarth Synopsis: The IRS released final regulations, under T.D. 9937, that generally adopt the proposed rules relating to qualified plan loan offsets issued last year, with one modification relating to the applicability...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - November 2020

When people ask my wife what I do for a living, she says she doesn’t know. Half the time I think she’s joking and half the time I think she’s serious that she doesn’t know what an ERISA attorney does. The same thing goes with...more

Bowditch & Dewey

2020 End of Year Tax Planning for Individuals

Bowditch & Dewey on

As the 2020 year draws to a close, families should review with their tax advisers the CARES Act tax-related provisions in their tax and financial planning. Tax provisions that apply to individuals include the following: ...more

Seyfarth Shaw LLP

Want to Put More Away in Your 401(k)? Qualified Plan Limits Generally Remain Constant in 2021

Seyfarth Shaw LLP on

Seyfarth Synopsis: Many of the limitations that apply to tax-qualified plans, including 401(k) and 403(b) plans, are subject to cost-of-living increases. The IRS just announced the 2021 limits. The annual employee salary...more

Ruder Ware

2021 Qualified Plan Cost of Living Increases, 2021 Social Security Taxable Wage Base

Ruder Ware on

On October 26, 2020 the Internal Revenue Service announced the cost-of-living adjustments for the various qualified retirement plan limits. Some of the limits shown below have increased from last year while others remained...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Senators propose COVID related catch-up

Several Republican senators have introduced legislation that would allow plan participants who are unable to make contributions to their tax-advantaged retirement accounts in 2020 to make catch-up contributions to these...more

Burr & Forman

The Countdown Begins for Lifetime Income Disclosures

Burr & Forman on

The SECURE Act of 2019 made three statutory changes to ERISA regarding lifetime income benefit payments from defined contribution plans (e.g., 401(k), 403(b), profit sharing, and money purchase pension plans). This blog will...more

Lathrop GPM

August 31 Deadline for RMD Rollovers

Lathrop GPM on

The SECURE Act increased the age at which Required Minimum Distributions (RMDs) must be made from 70-1/2 to 72. The CARES Act waived RMDs for 2020 (including initial RMDs that would have normally been required by April 1,...more

Tucker Arensberg, P.C.

Additional Flexibility for Required Minimum Distributions (RMDs) Taken During 2020

Tucker Arensberg, P.C. on

The CARES Act suspended the required minimum distribution (RMD) rules for DC plans and IRAs for 2020 for those past age 70½ (or those past age 72 under new rules). If you have already taken a RMD for 2020 from a DC plan and...more

Dechert LLP

What Did the DOL Just “Rollover” (and Roll Out)? – “A Primary Basis” for Understanding the New Proposed ERISA Exemption and...

Dechert LLP on

The U.S. Department of Labor (the “DOL”) on June 29, 2020 issued a release (the “Release”) proposing an important new initiative for retirement accounts (“Plans”) that are subject to the Employee Retirement Income Security...more

Proskauer Rose LLP

DOL Proposes Restrictions on ESG Investing and Issues New Fiduciary “Investment Advice” Guidance

Proskauer Rose LLP on

Proposed ERISA Restrictions on ESG Investing - On June 23, 2020, the U.S. Department of Labor (the “DOL”) issued a proposed rule that would limit when and how fiduciaries of plans subject to the U.S. Employee Retirement...more

Kilpatrick

Questions on 2020 Required Minimum Distributions Answered in New IRS Guidance

Kilpatrick on

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), enacted on March 27, 2020, to provide relief from the coronavirus pandemic, allowed defined contribution plans, participants in those plans, and owners of...more

Groom Law Group, Chartered

IRS Guidance on 2020 Required Minimum Distribution Waivers and More

On June 23, the Internal Revenue Service (“IRS”) issued Notice 2020-51, which provides much-needed guidance on how defined contribution plans (including 403(b) and governmental 457(b) plans) and IRAs implement the waiver of...more

Stoel Rives LLP

CARES Act Provides New Retirement Plan Distribution and Loan Options - Update May 2020

Stoel Rives LLP on

Originally posted on March 27, 2020.  This post has been updated to reflect guidance published by the Internal Revenue Service (IRS) on May 4, 202...more

Troutman Pepper

CARES Act – Retirement Plan Distributions and Loans: Troutman Sanders and Pepper Hamilton COVID-19 Issues for Employers Podcast...

Troutman Pepper on

Troutman Sanders and Pepper Hamilton are producing a series of podcasts to discuss employee benefits, executive compensation, and labor and employment issues that employers are confronting in light of the COVID-19 pandemic,...more

Stoel Rives LLP

COVID-19 Update: CARES Act Provides New Retirement Plan Distribution and Loan Options

Stoel Rives LLP on

The Coronavirus Aid, Relief, and Economic Security Act (the ‘‘CARES Act’’) was passed into law earlier today. The CARES Act provides additional flexibility for participants affected by the coronavirus (COVID-19) to (1)...more

Troutman Pepper

The SECURE Act: Significant Changes for Retirement Plans and IRAs

Troutman Pepper on

Pepper Hamilton partner Paul L. Porretta and Troutman Sanders partner Mamta K. Shah recently hosted a webinar to discuss the Setting Every Community Up for Retirement Enhancement Act of 2019, better known as the SECURE Act,...more

Buckingham, Doolittle & Burroughs, LLC

The Secure Act | How SECURE are you in your estate plan? (video transcript)

In this transcript of the video below, attorneys Ron Wayne and Sarah Blank discuss the SECURE Act and the key provisions that may affect you....more

Buckingham, Doolittle & Burroughs, LLC

The Secure Act | How secure are you in your estate plan?

In this brief video, attorneys Ron Wayne and Sarah Blank discuss the SECURE Act and the key provisions that may affect you....more

Morgan Lewis - ML Benefits

SECURE Act May Pave Way to More Lifetime Income Opportunities in Defined Contribution Plans

Ever since defined contribution plans have come to dominate the retirement plan landscape, both plan sponsors and policymakers have grappled with how to help employees take a lifetime’s worth of savings and convert it into a...more

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