Topic
401(k)
519 published works
Benefits Law Advisor
IRS Finalizes Regulations Allowing Plan Forfeitures to Fund QNECS and QMACS
The IRS recently finalized regulations that allow 401(k) plans to use forfeiture money to fund qualified non-elective contributions (“QNECs”) and qualified matching contributions (“QMACs”). These regulations finalize proposed regulations issued…
Wills, Trusts & Estates Prof Blog
How to Become a 401(k) Millionaire
There is a debate that it is nearly impossible to save $1 million in a corporate qualified plan, the best known of 401(k) plans. That is a complete misconception but…
All Things ERISA
What Does “Compensation” Mean Under the 401(k)/403(b) Plan?
How is Compensation defined under your 401(k) or 403(b) Plan?
Family Law Prof Blog
Dividing 401(k)
By Family Law
From CNBC:Divorcing couples can face enough agony as it is dividing up possessions and agreeing on custody of children, let alone splitting retirement assets.Yet that nest egg often represents a…
The Benefit of Benefits
Budget Act does what Tax Reform Couldn’t – Grants Relief on Hardship Distributions
By Scott E. Galbreath, J.D., LL.M (Tax)
As the Tax Cuts and Jobs Act wound its way through the legislative process last year, it morphed several times. Many provisions that were originally proposed were dropped along the…
Take Stock: Federal Policy Watch
Treasury Releases Guidance on Changes to Accounting Periods
On Feb. 13, the IRS released Rev. Proc. 2018-17, which contains guidance on changes in accounting periods related to the transition tax. Specifically, the revenue procedure prevents changes to the…
Benefits & Compensation Blog
Impact of Recent Legislation on 401(k) Hardship Withdrawals
The Tax Cuts and Jobs Act (Tax Act) did not directly modify the rules governing hardship withdrawals from 401(k) plans. However, one change enacted by the Tax Act does necessitate…
International Financial Law Prof Blog
After-Tax 401(k) Contributions: How Do They Stack Up?
A few years ago, the IRS released regulations easing the tax burden on after-tax contributions in a retirement account. Many clients don’t understand the rules governing after-tax contributions and may…
Pensions and Benefits
Senate proposes changes to retirement savings programs
Just as they appeared to survive round one of the House tax reform bill released last week, retirement savings programs, such as 401(k) plans and Individual Retirement Accounts, seem to…
Pensions and Benefits
U.S. tax reform – 401(k) plans saved from the chopping block?
For the last few weeks, U.S. tax reform deliberations put 401(k) retirement plans on a roller coaster ride. Rumors abounded, including, for example, whether legislators would impose new contribution caps,…