IRS Clarification Issued for 401k Plan’s Required Minimum Distribution Rules
On October 7, 2022, the Internal Revenue Service (IRS) published Notice 2022-53, to clear up confusion on some of the required minimum ...
Retirement & Financial
The IRS Announces New 401k Plan Limits for 2023
On October 21, 2022, the Internal Revenue Service (IRS) announced the new 401k plan limits for 2023 in Notice 2022-55,1 showing a significant ...
[Updated]: IRS Grants Three-Year Extension for 401k Plans’ Adoption of CARES and SECURE Act Amendments
On August 3, 2022, the Internal Revenue Service (IRS) released Notice 2022-33, providing 401k plan sponsors an extension until December 31, 2025 to adopt ...
Limited Plan Audits Are History: What 401k Plan Sponsors Should Know
The Employee Retirement Income Security Act of 1974 (ERISA) requires 401k plans with 100 or more eligible participants to file an audit ...
12 DOL Best Practices for 401k Plan Cybersecurity Measures
The U.S. Department of Labor (DOL) recently issued cybersecurity guidance for 401k plan sponsors, recordkeepers, other vendors, participants, and ...
The IRS’s New Pre-Audit Retirement Plan Compliance Pilot Program
On June 3, 2022, the Internal Revenue Service (IRS) announced a new pre-audit compliance pilot program (Program) for retirement plans, including 401ks.1 ...
[Updated] 5 Things You Should Know About California’s Retirement Plan Mandate
California small businesses or nonprofits with at least five employees must now offer a retirement plan to all adult employees, ...
In the Wake of Hughes v. Northwestern: What 401(k) Fiduciaries Can Expect Moving Forward
For the past several years, retirement plans governed by the Employee Retirement Income Security Act of 1974, as amended (ERISA), have ...
What to Know About Cryptocurrency in 401(k) Plans
On March 10, 2022, the U.S. Department of Labor (“DOL”) officially weighed in on offering cryptocurrency as an investment option in 401(...
2022 Year-End Planning: Upcoming Retirement Plan Amendment Deadlines
As we enter the summer months, retirement plan sponsors should start looking to the end of the 2022 calendar year to ...
Final Retirement Plan Deadline for California Employers
For employers with at least five California-based employees who do not currently offer a retirement plan, the final deadline (06/30/22) is ...
Market Uncertainty and Your 401(k) Account: Russian Invasion of Ukraine
The Russian Invasion of Ukraine has caused a significant increase in uncertainty and volatility in the markets. For those of ...