Mary C. Niehaus

Oct 24, 2024 | lexology.com | Mary C. Niehaus

The U.S. Internal Revenue Service (IRS) recently issued long-awaited guidance on how to handle “inadvertent benefit overpayments” from qualified retirement plans (IRS Notice 2024-77 effective October 15, 2024) (Notice).

Oct 8, 2024 | lexology.com | Mary C. Niehaus |Alexandra Green

On October 3, 2024, the U.S. Internal Revenue Service (IRS) issued Notice 2024-73 (Notice) providing further guidance regarding long-term, part-time employees (LTPTEs) in Internal Revenue Code (Code) Section 403(b) retirement plans, which are plans offered by public schools, certain charities, and other tax-exempt organizations and announcing a delayed applicability date for the final LTPTE regulations applicable to 401(k) plans.

Feb 12, 2024 | lexology.com | Beth J. Dickstein |Mary C. Niehaus |Joanna Janica

The Internal Revenue Service (IRS) recently issued Notice 2024-2, which contains eagerly awaited guidance to tax-qualified retirement plans regarding the SECURE 2.0 Act of 2022 (SECURE 2.0). This overview summarizes this key guidance, including updated amendment deadlines, certain required actions that must be taken to comply with various SECURE 2.0 provisions, and discretionary actions that may be taken under SECURE 2.0.Provisions Relating to Plan Amendments.

Dec 4, 2023 | lexology.com | Mary C. Niehaus |Alexandra Green

On November 27, 2023, the U.S. Internal Revenue Service (IRS) released long-anticipated proposed regulations regarding eligibility requirements for long-term, part-time employees (LTPTEs) for cash or deferred arrangements (CODAs) under Section 401(k) of the Internal Revenue Code (the Code).

Jul 31, 2023 | lexology.com | Mary C. Niehaus

In the absence of final guidance on the recent changes made to the required minimum distributions (RMDs) rules under Section 401(a)(9) of the Internal Revenue Code (Code), the U.S. Internal Revenue Service (IRS) issued Notice 2023-54 (Notice), which provides transition relief relating to these RMD rules.