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.
Congress Finally Passes Secure Act – The Most Sweeping Pension Legislation in Over a Decade is Now Law
After dragging their feet for most of 2019, the U.S. Senate finally, on December 19th, passed the Setting Every Community Up for Retirement Enhancement (“SECURE”) Act, a bundle of legislative provisions that together represents the most sweeping changes to the
IRS Changes Mailing Addresses (AGAIN!) For Certain Employee Plan Submissions
On December 2, 2019, the IRS announced a new pair of addresses to be used for various employee plans submissions, including applications for determination letters for individually designed retirement plans, which includes 401(k) plans. This actually marks the second time in
IRS Issues Clarifying Revenue Procedure on 401(k) Hardship Distribution Amendments
On December 12, 2019 - just in time for the Holidays - the IRS issued Revenue Procedure (“Rev. Proc.”) 2020-9 addressing plan amendments made with respect to hardship distributions (also known as hardship withdrawals) taken from 401(k) retirement plans. Generally
IRS Releases Updated VCP Compliance Statement
Recently, the IRS released an updated version of Form 14568 (Model VCP Compliance Statement), intended for use in connection with filing voluntary correction program (“VCP”) submissions with the IRS under the latest version of its Employee Plans Compliance Resolution System