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January 4, 2023
SECURE 2.0 was signed into law on December 29, 2022 making it important for plan sponsors and plan administrators to familiarize themselves with the new rules. The changes include correction of retirement plan overpayments and Expansion of EPCRS Self-Correction Program.
January 4, 2023
As part of our ongoing series on SECURE 2.0, this post discusses three significant changes to corrections of common retirement plan errors: (1) New rules for correcting overpayments...
January 3, 2023
As part of our ongoing series on SECURE 2.0, this post discusses three significant changes to corrections of common retirement plan errors: (1) New rules for correcting overpayments,...
July 7, 2022
Employers will have the opportunity to review and self-correct retirement plan failures upon being identified for plan examination by the Internal Revenue Service.
July 7, 2022
Employers will have the opportunity to review and self-correct retirement plan failures upon being identified for plan examination by the Internal Revenue Service (IRS). The IRS...
July 7, 2022
Employers will have the opportunity to review and self-correct retirement plan failures upon being identified for plan examination by the Internal Revenue Service IRS. If any failures are identified follow the IRS’s Employee Plans Compliance Resolution System EPCRS guidance
June 9, 2022
In the June 3 issue of Employee Plans News, the Internal Revenue Service announced a pilot program to give employers whose qualified retirement plans have been selected for audit a...
June 9, 2022
The IRS announced in its June 3 Employee Plans Newsletter a new 90-day Pre-Examination Compliance Pilot Program. Under the program, which is in effect, the IRS will notify an employer...
June 7, 2022
IRS is establishing a new pre-examination retirement plan compliance program beginning this month. The letter will give the plan sponsor a 90-day window to review its plan documents and operations to determine if they meet current tax law requirements.
February 17, 2022
Failing to issue required minimum distributions can be costly, so sponsors must follow exact steps from the IRS and DOL to locate missing participants.