Topic
401(k)
508 published works
Beneficially Yours
Coffee Talk With Benefits Episode 17: Long-Term Part-Time Employee Guidance
By Richard G. Schwartz, Sarah Touzalin, Diane Dygert
On November 24, 2023, the IRS issued highly anticipated proposed regulations concerning the provisions under SECURE and SECURE 2.0, requiring 401(k) plans to expand deferral eligibility for long-term part-time employees.…
Employee Benefits Law Report
Proposed regulation for long-term part-time employees: Plan sponsors act now
By Rich Helmreich, Greg Daugherty
Effective Jan. 1, 2024, employers who sponsor 401(k) plans must allow employees who work at least 500 hours a year over a period of consecutive years (“long-term part-time” or “LTPT…
Benefits Law Update
Proposed Regulations Regarding Long-Term, Part-Time Employees
Newly issued IRS Proposed Regulations regarding the special eligibility and vesting requirements for long-term, part-time employees provide guidance that 401(k) plan sponsors have been waiting for since these requirements were…
Davis+Gilbert PERKS
IRS Announces 2024 Cost‑of‑Living Increases for 401(k) Plans
Good news for 401k plan savers! The IRS recently released its cost-of-living adjustments for tax-qualified retirement plans (e.g., 401(k) plans), in IRS Notice 2023-75. The limit on employee contributions to…
Wills, Trusts & Estates Prof Blog
IRS raises 401(k), IRA contribution limits for 2024
The IRS announced last week an increase in the maximum contribution limits for various retirement savings accounts in 2024. Workers can now set aside up to $23,000 in their 401(k)…
The Right Coast
More workers are taking 401(k) withdrawals to cover emergencies
More people are making hardship withdrawals from their 401(k) accounts, raiding retirement funds to cover emergency medical expenses or to avoid losing a home.Hardship withdrawals from Fidelity Investments 401(k) accounts…
All Things HR
Avoid the Year-End Rush – 5 Proactive 401(k) Plan Administrative Steps to Take Now
Anyone responsible for the administration of a 401(k) retirement plan probably has a “to-do” list that never ends. For example, as soon as a plan administrator files the Annual Report…
Wills, Trusts & Estates Prof Blog
‘Retirement Guardrails’ Offers New Perspective on 401(k) Problems
In the book "Retirement Guardrails: How Proactive Fiduciaries Can Improve Plan Outcomes" by Quinn Curtis and Ian Ayres, the authors emphasize the need for guardrails in retirement accounts to steer…
Davis+Gilbert PERKS
Tenth Circuit Tightens Pleading Standard in 401(k) Fee Cases
Employers and plan sponsors recently received some good news relating to 401k-plan litigation: Matney v. Barrick Gold, No. 22-4045, 2023 (10th Cir. Sept. 6, 2023), Microsoft Word - 22-4045.docx Briefly,…
Davis+Gilbert PERKS
IRS Delays SECURE 2.0 Catch‑Up Contribution Changes
Breaking News for Employers: the IRS has announced a two year delay of the effective date of thorny 401k catch up contribution changes under the Secure Act. This is welcome…