IRS PERMANENTLY EXTENDS DEADLINE FOR FURNISHING ACA REPORTING FORMS TO EMPLOYEES
The IRS has issued a final regulation permanently extending the time that employers have to furnish statements to certain individuals regarding health coverage that may […]
DOL ISSUES FINAL REGULATIONS ON PRUDENCE AND LOYALTY IN SELECTING 401(K) PLAN INVESTMENTS – ESG FUNDS GET A THUMBS-UP
On November 22, 2022, the U.S. Department of Labor (DOL) released Final Regulations on ERISA’s fiduciary duties of prudence and loyalty as it concerns retirement […]
401(K) CURRENT EVENTS: FOR SECOND CONSECUTIVE YEAR, IRS 2022 REQUIRED AMENDMENTS LIST DOES NOT AFFECT 401(K) PLANS
On November 21, 2022, the IRS released Notice 2022-62, its annual list of required amendments (RA List) for individually designed qualified retirement plans, including 401(k) […]
401(k) CURRENT EVENTS: IRS EXPANDS DETERMINATION LETTER PROCESS FOR CERTAIN INDIVIDUALLY DESIGNED 401(K) PLANS
On November 7, 2022, the IRS released Revenue Procedure (Rev. Proc.) 2022-40 which generally updates the determination letter submission process for qualified retirement plans, including […]
IRS ANNOUNCES INCREASE IN THE PCORI FEE
The IRS has announced an increase in the PCORI Fee assessed against health insurance companies and the sponsors of self-insured health plans. This assessment funds […]
HEALTH AND WELFARE CURRENT EVENTS: IRS RELEASES 2023 ADJUSTED DOLLAR LIMITS
On October 18, 2022, the IRS released its annual Revenue Procedure, Rev. Proc. 2022-38, setting forth various cost of living adjustments for a variety of […]
401(k) CURRENT EVENTS: IRS RELEASES 2023 ADJUSTED DOLLAR LIMITS FOR 401(k) PLANS
On October 21, 2022, the IRS released its annual notice, Notice 2022-55, setting forth the various dollar limitations for contributions and benefits under qualified retirement […]
401(K) CURRENT EVENTS: IRS ISSUES LIMITED RELIEF FOR CERTAIN REQUIRED MINIMUM DISTRIBUTIONS THAT WERE DUE IN 2021, 2022
On October 7, 2022, the IRS issued Notice 2022-53 which grants limited relief with respect to certain new requirements for required minimum distributions (RMDs) from […]
IRS ANNOUNCES EXPANDED RULE FOR CAFETERIA PLAN ELECTION CHANGES
The IRS has announced a change in the rules regarding eligibility of taxpayers for a premium tax credit undersection 36B of the Affordable Care Act. […]