401(k): IRS Releases 2021 Adjusted Dollar Limits
On October 26, 2020, the IRS released its annual notice, Notice 2020-79, setting forth the various dollar limitations for contributions and benefits under qualified retirement […]
Time Is Running Out for Expanded 401(k) Loans Under CARES Act
URGENT! The expanded 401(k) plan loan provisions included in the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act are quickly coming to an end! The […]
Proposed Regulations on Rollover of 401(k) Qualified Plan Loan Offsets
On August 17, 2020, the Internal Revenue Service (“IRS”) issued proposed regulations addressing rollovers of qualified retirement plan (particularly 401(k) plan) loan offset amounts. The […]
IRS Updates 401(k) Model Rollover Notice
On August 6, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-62 which updates the information that must be provided to participants in retirement plans […]
DOL Proposes Revised Prohibited Transaction Exemption
On June 29, 2020, the U. S. Department of Labor (“DOL”) issued a proposed prohibited transaction exemption (“PTE”) – along with a related fact sheet […]
Temporary Suspension of 401(k) Plan Safe Harbor Contributions Due to COVID-19
On June 29, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-52 that generally permits employers who sponsor safe harbor 401(k) plans to temporarily reduce […]
New IRS Guidance Expands Eligibility for 401(k) Plan COVID-19 Related Distributions and Loans
On June 19, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-50, along with a related news release, that provides official guidance on “coronavirus-related distributions” […]
IRS Issues Rollover Relief For RMDs Waived Under CARES Act
On June 23, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-51 along with a related news release that permits 401(k) plan participants who took […]