Blog
The information and content contained in this blog are for general informational purposes only, and does not, and is not intended to, constitute legal advice. As always, for specific questions concerning your health or 401(k) plans, please consult your own ERISA attorney or professional advisor.
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 tax-related dollar limits, including numerous limits applicable to health and welfare benefits and benefit plans.
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 plans, including 401(k) plans. The new limits will go into effect as of January 1,
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 qualified plans (including 401(k) plans). Specifically, the notice provides relief for 401(k) plans that failed
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. Under the ACA, if a large employer fails to offer an employee and his family