Blog
The information and content contained in this blog are for general informational purposes only, and does not, and is not intended to, constitute legal advice. As always, for specific questions concerning your health or 401(k) plans, please consult your own ERISA attorney or professional advisor.
401(k) CURRENT EVENTS: IRS EXPANDS DETERMINATION LETTER PROCESS FOR CERTAIN INDIVIDUALLY DESIGNED 401(K) PLANS
On November 7, 2022, the IRS released Revenue Procedure (Rev. Proc.) 2022-40 which generally updates the determination letter submission process for qualified retirement plans, including 401(k) plans. In particular, among other changes, the program expands the eligibility for requesting determination
IRS ANNOUNCES INCREASE IN THE PCORI FEE
The IRS has announced an increase in the PCORI Fee assessed against health insurance companies and the sponsors of self-insured health plans. This assessment funds the he Patient-Centered Outcomes Research Institute which support clinical effectiveness research. The fee for plan
HEALTH AND WELFARE CURRENT EVENTS: IRS RELEASES 2023 ADJUSTED DOLLAR LIMITS
On October 18, 2022, the IRS released its annual Revenue Procedure, Rev. Proc. 2022-38, setting forth various cost of living adjustments for a variety of tax-related dollar limits, including numerous limits applicable to health and welfare benefits and benefit plans.
401(k) CURRENT EVENTS: IRS RELEASES 2023 ADJUSTED DOLLAR LIMITS FOR 401(k) PLANS
On October 21, 2022, the IRS released its annual notice, Notice 2022-55, setting forth the various dollar limitations for contributions and benefits under qualified retirement plans, including 401(k) plans. The new limits will go into effect as of January 1,