-
Nov 5, 2024 | 
jdsupra.com | Lori Basilico
November 5, 2024
To embed, copy and paste the code into your website or blog:
The Internal Revenue Service announced the 2025 cost-of-living adjustments to the dollar limitations for qualified retirement plans and other benefits, and the Social Security Administration announced its own cost-of-living adjustments for 2025.
-
Nov 4, 2024 | 
employeebenefits.lockelord.com | Lori Basilico
The Internal Revenue Service announced the 2025 cost-of-living adjustments to the dollar limitations for qualified retirement plans and other benefits, and the Social Security Administration announced its own cost-of-living adjustments for 2025.
-
Oct 24, 2024 | 
jdsupra.com | Lori Basilico
The Internal Revenue Service (IRS) issued interim guidance on the SECURE 2.0 Act provision permitting employers to make matching contributions based on employees’ qualified student loan repayments (“QSLP”) under 401(k), 403(b), governmental 457(b) and SIMPLE IRA plans. Notice 2024-63 (“Notice”) addresses a variety of issues that may arise for plan sponsors in administering such matching contributions.
-
Aug 19, 2024 | 
employeebenefits.lockelord.com | Lori Basilico |Aaron Weiss
On June 20, 2024, the Internal Revenue Service (“IRS”) released Notice 2024-55 (the “Notice”) offering guidance on two (2) new types of distributions exempt from the 10% early withdrawal penalty: emergency personal expense distributions and domestic abuse victim distributions. Introduced by the SECURE 2.0 Act (“SECURE 2.0”), both types of distributions are optional and may be adopted through discretionary plan amendments by the SECURE 2.0 deadline (currently December 31, 2026).
-
Aug 9, 2024 | 
jdsupra.com | Lori Basilico |Aaron Weiss
Two Texas federal court decisions have stalled the U.S. Department of Labor’s (“DOL”) “investment advice fiduciary rule” under Section 3(21) of the Employee Income Security Act of 1974, as amended (the “Fiduciary Rule”) from its September 23, 2024 effective date (see our previous alert). On July 25, 2024, in Federation of Americans for Consumer Choice v.
-
Aug 7, 2024 | 
employeebenefits.lockelord.com | Lori Basilico |Aaron Weiss
Two Texas federal court decisions have stalled the U.S. Department of Labor’s (“DOL”) “investment advice fiduciary rule” under Section 3(21) of the Employee Income Security Act of 1974, as amended (the “Fiduciary Rule”) from its September 23, 2024 effective date (see our previous alert). On July 25, 2024, in Federation of Americans for Consumer Choice v.
-
May 31, 2024 | 
jdsupra.com | Lori Basilico |John Emmanuel |Gerald Francese
On April 23, 2024, the U.S. Department of Labor (the “DoL”) released its final rule (“Fiduciary Rule”) titled Retirement Security Rule: Definition of an Investment Advice Fiduciary (an “Investment Advice Fiduciary”), which will be effective on September 23, 2024. The Fiduciary Rule broadens the definition of an Investment Advice Fiduciary under the Employee Retirement Income Security Act (“ERISA”).
-
May 7, 2024 | 
employeebenefits.lockelord.com | Lori Basilico |Aaron Weiss
In its latest attempt in a fourteen-year old quest to update the circa-1975 definition of a fiduciary who renders “investment advice for a fee or other compensation, direct or indirect” (an “investment advice fiduciary”) under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), on April 25, 2024, the U.S. Department of Labor (the “Department”) released final regulations (the “Final Rule”) defining an investment advice fiduciary, as well as amendments to several...
-
Apr 16, 2024 | 
lexblog.com | Lori Basilico |Aaron Weiss
In late December 2023, approximately one year after Congress enacted the Setting Every Community Up for Retirement Enhancement Act of 2022 (“SECURE 2.0”), the Internal Revenue Service (the “IRS”) released Notice 2024-2 (the “Notice”) providing much needed guidance, in the form of questions and answers, on 12 of the 90 new provisions added by SECURE 2.0.The following is a brief overview of the key provisions affecting section 401(k) and section 403(b) retirement plans.
-
Apr 16, 2024 | 
employeebenefits.lockelord.com | Lori Basilico |Aaron Weiss
In late December 2023, approximately one year after Congress enacted the Setting Every Community Up for Retirement Enhancement Act of 2022 (“SECURE 2.0”), the Internal Revenue Service (the “IRS”) released Notice 2024-2 (the “Notice”) providing much needed guidance, in the form of questions and answers, on 12 of the 90 new provisions added by SECURE 2.0.The following is a brief overview of the key provisions affecting section 401(k) and section 403(b) retirement plans.
