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The IRS provided welcome relief from Code section 401(a)(9) RMD compliance for 2021 and 2022 for post-death distributions to beneficiaries under IRAs and defined contribution plans. IRS Notice 2022-53 ("Notice").
A SEP IRA is an easy way for entrepreneurs and side-hustlers to set money aside for retirement without company-sponsored benefits.
Plan sponsors should be seeking the best outcomes for plan participants based on the participants' goals, not their own.
To print this article, all you need is to be registered or login on Mondaq.com. The DOL's Employee Benefits Security Administration ("EBSA") provided new guidance for plan sponsors, fiduciaries, participants and record-keepers concerning best practices for managing cybersecurity. This is the first time the EBSA has provided cybersecurity guidance. (See also GAO retirement plan guidance issued in February 2021: "Defined Contribution Plans: Federal Guidance Could Help Mitigate Cybersecurity Risks in 401(k) and Other Retirement Plans"). The DOL asserted that plan particip...
1 Introduction The creation of the target date fund (TDF) sought to make available a professionally managed solution for individuals saving for retirement through their employer’s defined contribution (DC)/ 401(k) plan. In the U.S., DC assets represent 61% of total retirement assets 1 and that percentage is expected to continue to rise. However, despite improvements to investment options and participant behavior, on average, DC plans continue to see returns that lag defined benefit (DB) plans. Looking across two recent studies, this de...