The IRS again announced that it is extending the deadline for large employers (generally those with 50 or more full-time equivalent employees in the previous year) and self-insured group health plans to distribute their Forms 1095-C to employees and plan participants. The normal deadline to distribute Forms 1095-C is January 31st. This IRS ...
Earlier this year, we wrote a blog post on how the Bipartisan Budget Act of 2018 (“Budget Act”) eased the restrictions on financial hardship distributions beginning January 1, 2019. The IRS has now issued proposed regulations that incorporate both the changes made by the Budget Act as well as changes made by prior law. Although the proposed ...
The time of the year has come for Plan Sponsors to send their annual notices to participants (if your retirement plan has a December 31 plan year-end). Make sure that you send the appropriate notices to your participants on time if your plan contains any of the following features:
401(k) Safe Harbor
Plans that contain a 401(k) safe harbor feature ...
The IRS has released its annual update for the cost-of-living adjustments for 2019. Consistent with last year, elective deferral limits for 401(k) and 403(b) plans increased another $500 from $18,500 to $19,000, the annual compensation limit increased $5,000 from $275,000 to $280,000, the defined contribution plan limit received ...