2020 Executive Compensation Retirement Plan 
McDermott Will & Emery Employee Benefits
SEPTEMBER 21, 2022
The post Save It for a Rainy Day: Recent Amendment Extensions for Qualified Retirement Plans, 403(b) Plans and Individual Retirement Accounts appeared first on EMPLOYEE BENEFITS BLOG.
McDermott Will & Emery Employee Benefits
OCTOBER 12, 2022
On September 26, 2022, the Internal Revenue Service (IRS) extended the amendment deadline for non-governmental qualified retirement plans, plans covered under Section 403(b) of the Internal Revenue Code (Code) and individual retirement accounts (IRAs).
Benefits Notes
MARCH 31, 2021
First, for plan years beginning in 2022, the amortization period for underfunded plans is extended to 15 years, rather than seven as previous allowed. Plan sponsors can make a retroactive election to amortize over the extended period for plan years beginning after December 31, 2018, 2019, and 2020.
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