The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 passed the House of Representatives. The Senate will now take up a similar bill—the Retirement Enhancement and Savings Act of 2019, or RESA. SECURE and RESA would make many significant changes to the retirement savings landscape.
Read MoreThe HSA contribution limits for 2020 are increasing. IRS Revenue Procedure 2019-25 provides the HSA inflation-adjusted limitations for calendar year 2020.
Read MoreIRA rules can be difficult for IRA owners to understand, and even more confusing to their beneficiaries. As an IRA trustee, custodian, or issuer, you can help lessen the confusion that surrounds beneficiary distribution options.
Read MoreWhether you’re a seasoned HSA expert or a novice, certain HSA questions may take you by surprise. Knowing how to answer common HSA questions about HSA eligibility, contribution limits, and distributions will help you better serve your clients.
Read MoreLocating missing plan participants is one of many challenges retirement plan fiduciaries and their third party administrators face. With a written policy and consistent procedures, a retirement plan can establish best practices to handle missing plan participants.
Read MoreCan an IRA owner make a rollover contribution after the 60-day rollover deadline? How can a nonspouse beneficiary move inherited IRA or plan assets?
Read MoreWhy are the recent changes to the IRS retirement plan correction program important? What are the changes to the EPCRS?
Read MoreNow that the IRS has provided additional guidance for when employers may recoup HSA contributions, you may want to consider updating your internal procedures for handling requests to recover contributions.
Read MoreThe IRS has expanded the availability of self-correction options under the Employee Plans Compliance Resolution System in a move to increase plan compliance and reduce costs for employers.
Read MoreThe IRS has provided guidance that expands its determination letter program with the addition of two plan categories that plan sponsors can use to request a determination letter other than when the plan is established or terminated.
Read MoreWhen establishing an IRA, it can be easy to overlook a step or two, which could lead to compliance issues and jeopardize the tax-deferred nature of the account. Follow these steps to help ensure that your organization is setting up IRAs the right way.
Read MoreDoes a Roth IRA owner have to wait five years before taking a Roth IRA distribution? What are the five-year waiting periods as they apply to Roth IRA distributions and how do they differ?
Read MoreWhat options are there for adding an automatic enrollment feature to a 401(k) plan? What happens if an employee is not enrolled in the plan’s automatic enrollment feature?
Read MoreThe Retirement Enhancement and Savings (RESA) Act of 2019 is the latest Senate version of a retirement reform bill that, if passed, would make many significant changes to the retirement savings landscape.
Read MoreMany IRA and retirement plan beneficiaries are not aware of the distribution requirements after an account owner has died. Without this knowledge, they could face unexpected penalty taxes. And your organization could face unexpected questions and complaints.
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The IRS and Department of Labor released tax relief guidance for victims of the severe storms and flooding events in Iowa, Nebraska, and Alabama.
Read MoreEffective consumer education on the part of employers, employee benefit providers, and financial organizations can lead to a better overall understanding of HSAs and, ultimately, an increase in HSA assets.
Read MoreDo you sometimes get asked about the benefits of having a conduit IRA? Anymore it’s a thing of the past, but there are reasons why some of your clients may find value in using a conduit IRA.
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