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When the IRS issued the 2025 Required Amendments List at the end of last year, however, it further delayed the amendment deadline for certain limited changes until after 2026.
Employers need to be aware of the increased limit on catch-up contributions on older participants, as well as DOL’s new policy on transferring benefit payments on missing participants and uncashed checks of $1,000 or less.
With the applicability date of the IFR quickly approaching, fiduciaries and service providers must be ready to implement the lifetime income disclosure requirements.
The exemption provides the DOL's long-awaited final interpretation of when advice to roll over retirement plan assets to an IRA is fiduciary investment advice.