Proskauer's Employee Benefits & Executive Compensa

DECEMBER 15, 2023

Act of 2022 (“SECURE 2.0”) was signed into law on December 29, 2022 as part of the 2023 Consolidated Appropriations Act, and included a myriad of required and optional plan design changes for retirement plan sponsors and employers (described in more detail here ). Starter 401(k) Plans. Recouping Overpayments.

401(k) 98

401(k) Retirement Plan Education Finance 98

InterWest Insurance Services

DECEMBER 20, 2022

1, 2026, it applies to all licensed contractors or applicants for licensure, regardless of classification, unless they are organized as a joint venture and file a certificate of exemption from workers’ compensation. Tree service contractors (D-49). Starting Jan. 7) Permanent COVID standard.

401(k) 98

401(k) Paid Sick Leave Retirement Plan Workers’ Compensation 98

McDermott Will & Emery Employee Benefits

AUGUST 28, 2023

Act until at least 2026. Specifically, the announcement provides that, until 2026, catch-up contributions will satisfy the requirements under SECURE […] The post There’s a Party Going on Right Here! Roth Catch-Up Change Delayed Two Extra Years!

Employee Benefits 96

Employee Benefits Retirement Plan 96

Proskauer's Employee Benefits & Executive Compensa

JANUARY 16, 2024

Employers must report matching and nonelective Roth contributions as if such contributions were directly rolled over to a designated Roth account in a Roth in-plan conversion. Distributions to Terminally Ill Individuals Early distributions from retirement plans are subject to a 10% additional tax, unless they qualify for an exception.

401(k) 111

401(k) Taxes Retirement Plan Employment 111

Snell & Wilmer Benefits

AUGUST 28, 2023

On August 25, 2023, the IRS issued Notice 2023-62 , which gives retirement plan sponsors a two-year administrative transition period to implement the SECURE 2.0 requirement that certain catch-up contributions to 401(k) and similar defined contribution plans be made on an after-tax Roth basis. More specifically, SECURE 2.0

401(k) 52

401(k) Retirement Plan Taxes Employee Benefits 52

Benefits Notes

AUGUST 29, 2023

Act of 2022 (“SECURE 2.0”) required that effective as of January 1, 2024 , participants in 401(k) plans, 403(b) plans, or governmental 457(b) plans, who were age 50 or older and whose Social Security wages for the previous year exceed $145,000 (indexed), only be permitted to make catch-up contributions under such plans on a Roth (after-tax) basis.

401(k) 52

401(k) Retirement Plan Executive Compensation Taxes 52

Benefits Notes

DECEMBER 28, 2022

Congress made several changes to retirement plans as part of the Consolidated Appropriations Act of 2023 , which recently passed both the House and Senate. The final bill contains several provisions affecting retirement plans under Division T of the bill titled “Secure 2.0 Enhanced Investments in 403(b) Plans.

401(k) 52

401(k) Retirement Plan Taxes Salary 52

HR Digest

AUGUST 27, 2020

million people currently employed in this field with an estimated growth of 26% by 2026. Its job expansion is also expected to increase by 19 percent by the year 2026. . Additionally, they may help design insurance policies, retirement plans and business strategies to help businesses bring in more money. Accountant.

Software 58

Software Entertainment Retirement Plan Taxes 58

Snell & Wilmer Benefits

MAY 31, 2024

The increased catch-up contribution limit for eligible participants is the greater of: (a) $10,000, subject to cost-of-living adjustments starting in 2026; or (b) 150% of the limit in effect for 2024 (i.e., Roth catch-up rule for certain high-earning individuals, which the IRS delayed to 2026. What is the increased limit?

401(k) 52

401(k) Payroll Taxes Employee Benefits 52

HR Digest

AUGUST 27, 2020

million people currently employed in this field with an estimated growth of 26% by 2026. Its job expansion is also expected to increase by 19 percent by the year 2026. . Additionally, they may help design insurance policies, retirement plans and business strategies to help businesses bring in more money.

Software 40

Software Entertainment Retirement Plan Taxes 40

Empuls

JUNE 21, 2024

  A thoughtfully crafted retirement plan can positively impact employee morale.      Increase the productivity of employees nearing retirement.    A handsomely distributed retirement plan increases job satisfaction. Let's quantify the significance of retirement rewards. 

401(k) 40

401(k) Retirement Plan Pension roth 401(k) 40

Proskauer's Employee Benefits & Executive Compensa

DECEMBER 23, 2022

a long-awaited (and debated) package of retirement plan reforms. Given the breadth of the changes and the anticipated regulatory efforts to implement the new law, virtually all qualified retirement plans will need to be reviewed in conjunction with SECURE 2.0’s The wait is over for SECURE 2.0, may be viewed here.

401(k) 108

401(k) Retirement Plan Taxes Finance 108

Benefits Notes

MARCH 31, 2021

Under the ARPA, the 10% interest rate corridor is reduced to 5% for plan years beginning in 2020 through 2025, the 5% per year expansion will be delayed to the 2026 plan year (and, accordingly, the 30% corridor is reached in the 2030 plan year), and a permanent 5% interest floor is established for the twenty-five year averages.

Family and Medical Leave Act 40

Family and Medical Leave Act Employee Benefits Taxes Pension 40