Articles Discussing Retiree Benefits.

On November 1, 2023, the 2024 calendar year cost-of-living adjustments to the contribution and compensation limits for tax-qualified retirement plans were released by the Internal Revenue Service (IRS) in Notice 2023-75.

The Internal Revenue Service recently announced its cost-of-living adjustments applicable to dollar limitations on benefits and contributions for retirement plans generally effective for Tax Year 2024 (see IRS Notice 2023-75). Most notably, the limitation on annual salary deferrals into a 401(k) or 403(b) plan will increase to $23,000, and the

The SECURE 2.0 Act of 2022 (SECURE 2.0) was enacted on December 29, 2022, as a component of the Consolidated Appropriations Act of 2023. SECURE 2.0 made sweeping changes to the laws affecting qualified retirement plans and IRAs.

Mergers and acquisitions raise numerous issues, including whether to terminate or maintain a target company’s qualified retirement plan. The decision to terminate or maintain a plan involves various considerations, which can affect both employers and employees.

The February 24, 2023, issuance by the IRS of proposed regulations on the use of forfeitures in qualified retirement plans provides some welcome clarity, regulatory house cleaning, and relief for plan sponsors.  With a proposed effective date of January 1, 2024, these regulations should prompt plan sponsors to review

The Biden Administration’s prudence in selecting plan investments and exercising shareholder rights rule allows plan fiduciaries to consider environmental, social, and governance (ESG) factors when selecting retirement plan investments.

In late 2022, the Department of Labor finalized a new rule titled “Prudence in Selecting Plan Investments and Exercising Shareholder Rights,” largely reversing Trump-era guidance that had strictly limited the ability of plan fiduciaries to consider “environmental, social, and governance” (ESG) factors in selecting retirement plan investments and generally discouraged the exercise of proxy voting. 

President Biden signed The Consolidated Appropriations Act, 2023 in late December 2022.  The final bill included the SECURE 2.0 Act of 2022 (“SECURE 2.0”).  As we reported in a prior article, SECURE 2.0 contains a host of wide-ranging provisions that impact retirement plans, plan sponsors, and plan participants.

SECURE 2.0 may cause some insecurity. However, the law’s changes to the treatment of overpayments from employer-sponsored retirement plans may replace that insecurity with relief.

Welcome to Part 10 (of 10) of our series about the SECURE 2.0 Act of 2022 (SECURE 2.0) (our other articles are on our JL Employee Benefits Blog Page).  Among the many changes within SECURE 2.0, the following allow for increased flexibility for participants to access certain retirement plan accounts

The SECURE 2.0 Act of 2022 (SECURE 2.0) eliminates the requirement for plan sponsors to provide certain notices to eligible but unenrolled employees in defined contribution plans, changes the delivery method plan sponsors must use to furnish benefit statements to participants in retirement plans, and modifies the language required in

After months of suspense and intrigue on whether SECURE 2.0 would make it to the finish line and become law, the U.S. Congress ended the suspense by attaching SECURE 2.0 to the Consolidated Appropriations Act, 2023 funding bill on December 23, 2022. President Biden made it official on December 29,

The SECURE 2.0 Act of 2022 (SECURE 2.0) provides welcome relief to private sector single employer sponsors of defined benefit pension plans (Pension Plan(s)). Effective for plan years beginning on and after January 1, 2024, SECURE 2.0 caps the variable rate premium paid by Pension Plan sponsors to the Pension

Most Americans prefer not to pay more in income tax than absolutely required or to pay taxes any sooner than necessary.  This includes many retired individuals who do not need to tap into their employer-sponsored retirement plan benefits yet but are required to do so – and to pay taxes