On Thursday, October 19th, the IRS announced new statutory limits for the upcoming 2018 year. The most important changes applicable to retirement plans are outlined below. After holding the line for a couple of years, the IRS increased the employee elective deferral limit (the §402(g) limit) from $18,000 to $18,500, for contributions to 401(k) and […]
The IRS announced yesterday the new limits for 2014. The most important changes applicable to retirement plans are outlined below. The §415(c)(1)(A) limit on total contributions to a defined contribution plan was increased from $51,000 to $52,000. The §415(b)(1)(A) limitation on the annual benefit under a defined benefit pension plan increased from $205,000 to $210,000. […]
The Department of Labor (“DOL”) issued Field Assistance Bulletin (“FAB”) 2013-02 on July 22, 2013, extending the deadline for plan sponsors to make their second round of required 404(a)(5) participant fees disclosures. The 404(a)(5) regulations, effective in 2012, required plan sponsors to provide certain fee disclosure information to participants by August 30, 2012. The regulations […]
The Supreme Court of the United States, in its decision handed down on June 26, 2013, found the Defense of Marriage Act, which was enacted in 1996, violates the U.S. Constitution. The decision will have wide-ranging implications for individuals and employers, and we will begin to see some of these immediately.
