International Foundation of Employee Benefit Plans

MAY 25, 2023

The Treasury Department and the Internal Revenue Service (IRS) temporarily allowed, in light of COVID-19 pandemic restrictions, electronic alternatives to physical presence requirements for retirement plan participants’ elections that required spousal consent.

Retirement Plan 86

Retirement Plan Electronics Employee Benefits 86

McDermott Will & Emery Employee Benefits

DECEMBER 14, 2022

Retirement plan sponsors need to utilize updated Form W-4P (for periodic pension and annuity payments) and new Form W-4R (for nonperiodic payments and eligible rollover distributions) for income tax withholding elections beginning January 1, 2023.

Retirement Plan 83

Retirement Plan Taxes Pension Employee Benefits 83

Proskauer's Employee Benefits & Executive Compensa

JANUARY 3, 2023

was signed into law on December 29, 2022 , making it important for plan sponsors and plan administrators to familiarize themselves with the new rules. Correction of Retirement Plan Overpayments. changes how retirement plan overpayments are corrected in two key ways, which are detailed below.

Retirement Plan 106

Retirement Plan Taxes Utilities Employment 106

Proskauer's Employee Benefits & Executive Compensa

JUNE 6, 2022

Or at the very least, predict the timing of a retirement plan audit? Last Friday, the IRS Employee Plans division announced a new pilot program whereby it will notify retirement plan sponsors 90 days in advance that their plan has been selected for upcoming examination.

Retirement Plan 110

Retirement Plan Taxes IT 110

Business Management Daily

AUGUST 30, 2023

brings to your retirement plans in 2023. It used to be that all employees eligible for the company’s retirement plan would have to receive notices; now that requirement is reduced to only enrolled employees. already made to your retirement plans appeared first on Business Management Daily.

Retirement Plan 52

Retirement Plan 401(k) Taxes Employment 52

Employee Benefits

APRIL 10, 2023

Retirement planning Freedom of access to pension savings has impacted retirement strategies. That will shape the behaviours of employers and employees, both of whom will have to adapt their working practices, balancing the desire for greater flexibility in work with responsible retirement planning.”

Pension 64

Pension Retirement Plan Employee Benefits Employment 64

Patriot Software

APRIL 3, 2023

Offering a retirement plan comes with a host of benefits, including generous 401(k) tax credits, while also serving as a potent tool for recruiting and retaining top talent. There are also unique benefits that come from integrating your 401(k) plan with your payroll provider.

Retirement Plan 65

Retirement Plan 401(k) Payroll Taxes 65

McDermott Will & Emery Employee Benefits

JUNE 7, 2022

The US Department of Labor (DOL) recently issued guidance for the first time on the investment of retirement plan assets in cryptocurrencies. The post When Are Cryptocurrencies Appropriate Investments for Retirement Plans and IRAs? Compliance Assistance Release No. Compliance Assistance Release No.

Retirement Plan 73

Retirement Plan 401(k) Employee Benefits Commissions 73

McDermott Will & Emery Employee Benefits

JUNE 16, 2022

Retirement plan sponsors should be aware of a new Internal Revenue Service (IRS) pilot program, which permits plan sponsors to conduct a pre-examination “check-up” of retirement plan administration before the IRS begins a plan examination.

Retirement Plan 75

Retirement Plan Employee Benefits IT 75

Patriot Software

AUGUST 31, 2022

State-mandated retirement plans are here to nudge (erhm, push) employers into helping employees save for their future. But, all the different rules and regulations can cause you to trip on your way to offering retirement plans. Don’t get tripped up. We’re here to help you understand your responsibilities.

Retirement Plan 70

Retirement Plan Employment Payroll 70

HR Professionals Magazine

MAY 24, 2022

The guidance asks fiduciaries of retirement plans to remember their main responsibility: act solely in the financial interests of plan participants and adhere to an exacting standard of professional care. The post Rolling the Dice on Crypto in Retirement Plan appeared first on HRProfessionalsMagazine.

Retirement Plan 98

Retirement Plan 401(k) Education Banking 98

Patriot Software

OCTOBER 14, 2022

Have you avoided retirement plans because of the large fees and time-consuming administration? There are more options than ever, including a plan that has no fees or recordkeeping requirements for employers. If so, I’m happy to tell you that things have changed.

Retirement Plan 80

Retirement Plan Employment Payroll 80

HR Professionals Magazine

SEPTEMBER 2, 2021

As an HR professional, you might read that title and think, “Duh – aren’t all retirement plans focused on employees?” As pensions have gone by the wayside and 401(k) plans have gained more notoriety, employees have become increasingly more aware of their employer sponsored retirement plans, and the financial benefits they provide.

Retirement Plan 52

Retirement Plan roth 401(k) 401(k) Taxes 52

Proskauer's Employee Benefits & Executive Compensa

OCTOBER 25, 2022

On October 21 st , the IRS released a number of additional inflation adjustments for 2023, including to certain limits for qualified retirement plans. The table below provides an overview of the key adjustments for qualified retirement plans. Qualified Defined Benefit Plans.

Retirement Plan 52

Retirement Plan 401(k) Flexible Spending Account Employee Compensation 52

McDermott Will & Emery Employee Benefits

SEPTEMBER 21, 2022

The post Save It for a Rainy Day: Recent Amendment Extensions for Qualified Retirement Plans, 403(b) Plans and Individual Retirement Accounts appeared first on EMPLOYEE BENEFITS BLOG.

Retirement Plan 87

Retirement Plan Employee Benefits IT Executive Compensation 87

HR Professionals Magazine

JULY 26, 2022

workers currently don’t have access to a retirement plan sponsored by their employer. To bridge this gap, a majority of states have contemplated state-mandated retirement savings plan legislation, and 13 have already signed such programs into law. Key retirement plan differentiators at a glance.

Retirement Plan 52

Retirement Plan 401(k) Employment Deductions 52

Employee Benefits

APRIL 10, 2023

” Read more: How have the pension freedoms impacted retirement planning? The post Flaunt Digital raises awareness of retirement planning through pensions communication appeared first on Employee Benefits.

Pension 52

Pension Retirement Plan Employee Benefits Taxes 52

Genesis HR Solutions

JUNE 21, 2022

When we talk to prospective clients about our PEO’s retirement plans, they’re sometimes skeptical about the value of using them, especially if they already have their own plans in place. They wonder: Is switching to a PEO’s retirement plan worth it? A Checklist: What To Look For In A PEO Retirement Plan. ?

Retirement Plan 52

Retirement Plan 401(k) IT Electronics 52

Employee Benefit News

SEPTEMBER 6, 2023

Roth contribution options and pension-linked emergency savings accounts, among other promising provisions, will require extensive clarification.

Retirement Plan 84

Retirement Plan Pension 84

HR Professionals Magazine

JANUARY 25, 2023

Vaughn, FSA, MAAA, EA McGriff Retirement Practice Leader The post Borrowing Considerations to Fund Retirement Plan Liabilities appeared first on HRProfessionalsMagazine. It can lead to lower cash flow commitments for the near future, a balance-sheet-neutral transaction, and improved earnings.

Retirement Plan 52

Retirement Plan Pension Deductions Deductible 52

Insperity

JANUARY 2, 2020

It’s no secret that current and prospective employees want their employer to offer a retirement plan. Whether your company is looking for a new retirement plan provider or reviewing your current retirement benefits, the first thing you need to understand is one size does not fit all. Final thoughts.

Retirement Plan 59

Retirement Plan 401(k) Payroll Employment 59

Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 21, 2021

The IRS recently updated its “Employee Plans Compliance Resolution System” (EPCRS). By way of background, EPCRS is a correction program administered by the IRS for plan sponsors to correct certain retirement plan errors. New Flexibility to Correct Retirement Plan Overpayments.

Retirement Plan 74

Retirement Plan 401(k) Utilities Employment 74

HR Professionals Magazine

MARCH 2, 2022

The post How Competitive is Your Company’s Retirement Plan? appeared first on HRProfessionalsMagazine.

Retirement Plan 52

Retirement Plan Employee Benefits 52

Health Consultants Group

APRIL 1, 2021

How CARES Act Affects Employee Retirement Plan Distributions. That includes compliance with CARES Act Section 2202 , Special Rules For Use of Retirement Funds. Employees who met these coronavirus-related conditions qualified for retirement plan distributions under the special rules. CARES Act Retirement Plan Rules.

Retirement Plan 52

Retirement Plan 401(k) Taxes Pension 52

HR Digest

JULY 19, 2019

One way to get started is by contributing a part of your paycheck directly into your employer’s 401(k) plan. If they don’t offer one, then you look into other retirement savings vehicles such as Roth IRA or traditional IRA. The post Americans don’t have access to retirement plans appeared first on The HR Digest.

Retirement Plan 87

Retirement Plan 401(k) IT 87

Patriot Software

APRIL 6, 2020

Offering employees the opportunity to contribute to a retirement plan is a benefit many for-profit businesses provide. If you run a nonprofit with 501(c)(3) status, you can offer your employees a 403(b) retirement plan. So, what is a 403(b) plan? But, what about nonprofits? Who can enroll?

Retirement Plan 52

Retirement Plan 401(k) Software Payroll 52

Wellable

JULY 12, 2021

The traditional goal of retiring at 65 is becoming a thing of the past. According to a recent survey conducted by the National Institute on Retirement Security, about one third of working Americans say their retirement plans have changed as a result of the pandemic.

Retirement Plan 58

Retirement Plan Employment 58

BerniePortal

JUNE 8, 2021

working adult population has nothing saved for retirement and only Social Security to look forward to.” As a result, states are stepping in to provide state-sponsored retirement plans. An alarming article published in BenefitsPRO reported that “[a] sizeable chunk of the U.S.

Retirement Plan 52

Retirement Plan Employment 52

HR Bartender

SEPTEMBER 21, 2016

You mentioned defined benefits plans. I know one of your areas of expertise is in the area of retirement planning. There are lots of articles these days on the topic of retirement – ranging from whether people are actually retiring (versus transitioning to an encore career) to the financial considerations of retirement.

Retirement Plan 130

Retirement Plan Employee Wellness Human Resources Pension 130

Employee Benefit News

SEPTEMBER 25, 2023

The Ninth Circuit's opinion in Bugielski v. AT&T found negotiation of a standard recordkeeping contract to be a prohibited transaction.

Retirement Plan 73

Retirement Plan 401(k) 73

Money Talk

JULY 13, 2023

Act of 2022 , passed last December, has financial planning opportunities for both the accumulation and distribution phases of retirement planning. New Catch-Up Limit - Currently, additional catch-up savings ($7,500 in 2023) in employer retirement plans is available for workers age 50+. The SECURE 2.0

401(k) 130

401(k) Retirement Plan Employment Taxes 130

Snell & Wilmer Benefits

MARCH 25, 2022

2022-01 (the “Release”), the Department of Labor (the “Department”) signaled its intention to scrutinize inclusion of cryptocurrency assets and crypto-derivative products as investments in ERISA-covered retirement plans. In Compliance Assistance Release No.

Retirement Plan 40

Retirement Plan Commissions Employee Benefits IT 40

The Teacher's Advocate

SEPTEMBER 6, 2019

"Schoolteachers and others who pursue careers of service in exchange for modest paychecks get lightly regulated retirement plans that often charge excessive fees." 21, 2016 Think Your Retirement Plan Is Bad? By TARA SIEGEL BERNARD OCT. Just Talk to a Teacher Excellent article and yours truly even has a few quotes!

Retirement Plan 52

Retirement Plan 52

International Foundation of Employee Benefit Plans

AUGUST 31, 2023

With the federal student loan debt relief plan ruled unconstitutional by the Supreme Court, more employers are expected to consider offering student loan repayment benefits (covered in Part 1) or retirement plan matching under the SECURE Act 2.0 appeared first on Word on Benefits.

Retirement Plan 99

Retirement Plan Employment 401(k) Employee Benefits 99

PayrollOrg

AUGUST 28, 2023

The IRS has announced an administrative transition period to extend until 2026 the new requirement that additional elective deferrals made by higher-income participants in retirement plans be designated as after-tax Roth contributions.

Retirement Plan 104

Retirement Plan Taxes 104

Money Talk

SEPTEMBER 14, 2023

Types of Tax-Deferred Accounts - These include employer-sponsored defined contribution plans (e.g., 401(k), 403(b), 457, thrift savings plan), Traditional IRAs funded with pre-tax dollars, simplified employee pensions (SEPs) for self-employed workers, and annuities. Beneficiary types include a spouse, non-spouse (e.g.,

Taxes 182

Taxes 401(k) Retirement Plan Pension 182

Employee Benefit News

MAY 18, 2023

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Retirement Plan 83

Retirement Plan Employee Benefits 83