IRS Ruling on 401(k) Discretionary Contributions
On August 23, 2024, the IRS gave its approval to a novel arrangement in which employees participating in their employer’s 401(k) plan would be permitted to elect to allocate certain …
On August 23, 2024, the IRS gave its approval to a novel arrangement in which employees participating in their employer’s 401(k) plan would be permitted to elect to allocate certain …
On August 19, 2024, the IRS released Notice 2024-63, providing guidance in the form of Q&As regarding employer matching contributions for “qualified student loan payments” (QSLPS) made by employees participating …
On May 3, 2024, the IRS issued guidance in the form of “frequently asked questions” (FAQs) on disaster relief distributions and expanded loans under qualified retirement plans, including 401(k) plans, …
We previously reported that the IRS has also released guidance on Pension-Linked Emergency Savings Accoungs (PLESAs). See this blog for more information, along with a general description of PLESAs. On …
On January 12, 2024, the IRS issued Notice 2024-22, initial guidance on emergency savings accounts linked to 401(k) plans under the SECURE 2.0 Act. The new provisions, effective for plan …