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. […]
H&W CURRENT EVENTS: TEXAS FEDERAL DISTRICT COURT INVALIDATES HHS GUIDANCE ON GENDER AFFIRMING CARE
On October 1, 2022, the U.S. District Court for the Northern District of Texas, in Texas v. EEOC, et al., invalidated U.S. Department of Health […]
Level Funding Group Health Plans: What Employers Need to Know
Four years ago we released a blog covering potential benefits and risks for employers seeking to switch from fully insured to self-insured level group health […]
401(K) CURRENT EVENTS: IRS EXTENDS DEADLINE TO AMEND PLANS FOR ADDITIONAL CARES ACT, CAA DISASTER RELIEF PROVISIONS
On September 26, 2022, the IRS issued Notice 2022-45 which extends the deadline for amending retirement plans, including 401(k) plans, to comply with recent legislation. […]