IRS Issues 2024 FSA and Commuter Limits
On November 9, 2023, the IRS released the long awaited 2024 maximum contribution limits for Flexible Spending Arrangements (FSA) and Commuter accounts. A bit later than usual, Revenue Procedure 2023-34 […]
PS Plan and Retroactive Amendment
Under the SECURE Act, employers can adopt a profit-sharing plan for the prior year, as long as the plan is established before the employer’s tax-filing deadline, including extensions. This means […]
Departments Move Forward with Enforcement of Deferred Machine-Readable File Requirement
The Departments of Labor, Health and Human Services and Treasury (The Departments) have released updated FAQs around the requirement for plans and issuers to post machine-readable files on a public […]
Joint Agency Guidance on Gag Clause Prohibition for Health Plan Agreement
On February 23, 2023, the Department of Labor (DOL), the Department of Health and Human Services (HHS), and the Internal Revenue Service (IRS) (the “Agencies”) released FAQs addressing the implementation […]
Ways to Improve Retirement Planning
As a plan sponsor, enhancing retirement plan performance is vital for the benefit of both participants and the plan’s long-term success. Effective strategies to improve retirement plan performance include: Implementing […]
IRS Delays Roth Catch-Up Contribution Requirement under SECURE 2.0 Act
In light of concerns expressed by plan sponsors and participants alike, the IRS released Notice 2023-62 (“Notice”) which provides a two-year extension on the requirement related to Roth catch-up contributions […]
EEOC Announces 2022 EEO-1 Component 1 Submission Deadline
The U.S. Equal Employment Opportunity Commission (EEOC) has announced that the 2022 EEO-1 Component 1 data collection deadline for employers to submit demographic data. For 2022, data collection will begin […]
IRS Releases ACA Affordability Threshold for 2024
The IRS released Rev. Proc. 2023-29 on August 23, 2023, announcing a decrease in the ACA Affordability Contribution Rate from 9.12% in 2022 to 8.39% for the 2024 plan year. […]
Notice of Proposed Rulemaking Released for the Pregnant Workers Fairness Act
The U.S. Equal Employment Opportunity Commission (EEOC) has issued a Notice of Proposed Rulemaking around the implementation of the Pregnant Workers Fairness Act (PWFA). The proposed rule, released for inspection […]
Fee Transparency
Fee analysis and transparency are vital for successful retirement plans. Understanding fee impacts and conducting benchmarking helps plan sponsors make informed decisions and protect themselves as fiduciaries. Below, we explore […]
