Search Results

The National Association of Government Defined Contribution Administrators sent a letter to the IRS and the Treasury, urging clarification on age-60 catch-up contributions and plan participation for part-time workers.

Among the new law's 93 provisions are new mandatory rules for part-time workers, as well as an optional provision for employers to include a student loan/401(k) matching plan.

For small business owners, there are new rules for 401(k)s, incentives to create new plans and tax breaks that you should be aware of.

Employers need to get ahead of the curve in engaging their plan administrators, amending their plans and communicating significant changes to employees, such as emergency withdrawals and student loan match.

There are over 90 provisions in the new retirement legislation, so here is a year-by-year overview of key provisions that will affect employers and their employees.

Since failure to comply with the regulations pertaining to 401(k) administration can lead to significant financial penalties, business leaders need to familiarize themselves with the new retirement plan rules starting with 2023.

Those who proactively get ahead of the game's new rules will be best positioned to serve the needs of their companies, as well as current and former plan participants, while also protecting themselves against liability.

With the passage of this landmark legislation, significant administrative guidance on changes to retirement plans will be forthcoming from the IRS and the DOL, but here is a preliminary summary of the most relevant changes.