The U.S. Fifth Circuit Court of Appeals has finally made it official—the 2016 Department of Labor (DOL) fiduciary investment advice final regulations and accompanying guidance are repealed. What Happens Next?
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What changes are forthcoming regarding qualified retirement plan hardship distribution rules? When are these changes effective? Is the plan document required to be amended for these changes?
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Tax law changes and business developments, such as mergers or acquisitions, may warrant IRA document amendments. Two pieces of recent legislation—the Tax Cuts and Jobs Act of 2017 and the Bipartisan Budget Act of 2018—led to significant IRA rule changes.
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Time and experience are shifting how individuals look at HSAs. Thinking beyond immediate health expenses, a greater number of consumers are looking at HSAs as vehicles for their future health care needs.
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Two Senators have introduced the “Commission on Retirement Security Act of 2018,” which is a bill that if enacted, would create a commission to study Americans’ private retirement programs and make recommendations to Congress for improvements.
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The IRS issued a revenue ruling stating how withholding and reporting is applied to IRA assets that are escheated to states.
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The IRS has issued proposed regulations that would alter the rules for electronic filing requirements of retirement and certain tax-preferred savings account information returns, which would require more filing entities to file electronically.
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Properly terminating a retirement plan is not as simple as discontinuing funding and distributing the plan assets. There are a number of tasks an employer must consider and complete to properly terminate a retirement plan.
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What is a qualified charitable distribution (QCD)? Are there limits to how many QCDs an IRA owner may make in a year? How are QCDs treated when the IRA owner has nondeductible contributions in the IRA?
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Quick Reference Tool: Distribution options for beneficiaries of IRAs when the IRA owner died before January 1, 2020.
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Quick Reference Tool: Current Traditional and Roth IRA contribution limits
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Quick Reference Tool: Distribution options for beneficiaries of IRAs when the IRA owner died on or after January 1, 2020.
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Quick Reference Tool: Current contribution limits for employer-sponsored and IRA-based retirement plans.
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Quick Reference Tool: 2018 and 2019 health savings account (HSA) contribution limits and HSA-compatible high deductible health plan (HDHP) requirements.
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A Department of Labor bulletin announces a temporary non-enforcement policy stating that the DOL generally will not enforce the investment advice fiduciary guidance following action by the U.S. Fifth Circuit Court of Appeals to vacate its final regulations and exemptions package.
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The Securities and Exchange Commission (SEC) issued proposed guidance for broker-dealers and registered investment advisors who make recommendations to retail clients. Now that the DOL conflict-of-interest (fiduciary) regulations are vacated, this SEC guidance remains the standard for broker-dealers who make investment recommendations.
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Health savings accounts recorded double-digit account and asset growth in 2017 as the number of individuals covered by high deductible health plans continues to increase year over year. Employers are a huge driver of this growth.
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The health savings account (HSA) contribution limits for 2019 are increasing. The IRS issued Revenue Procedure 2018-30 announcing the HSA inflation-adjusted limitations for calendar year 2019.
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