Defined contribution plan

The IRS has issued Notice 2023-43 to address questions and provide interim guidance related to Section 305 of SECURE 2.0.

Congressional leadership from the House Committee on Ways and Means and the Senate Committee on Finance have sent a letter to officials at the Treasury Department indicating that Congress intends to introduce technical correction legislation to correct erroneous statutory language for several SECURE 2.0 provisions in order to accurately carry out Congressional intent.

This infographic is part of a multi-part series that describes the penalty-free distribution options created by SECURE 2.0

The U.S. District Court for the Northern District of Illinois has ruled in favor of the plaintiffs in a motion to dismiss a lawsuit against Pactiv Evergreen Services, Inc., which claims it breached its fiduciary duty to a 401(k) plan it sponsors.

Effective May 3, 2023, the prime interest rate increased from 8.00 percent to 8.25 percent.

The IRS recently released proposed regulations regarding the use of forfeitures within qualified retirement plans.

A bill introduced by Congressman Bill Huizenga (R-MI), has been passed out of the House Financial Services Committee.

Congressman Patrick McHenry (R-NC), Chairman of the House Financial Services Committee has introduced H.R. 2799, the Expanding Access to Capital Act.

The April 20, 2023, publication of Employee Plans News provides details for plan document restatement deadlines.

During the COVID-19 Public Health Emergency (PHE) and National Emergency, numerous requirements were introduced for group health plans, which were generally aimed at ensuring individuals did not forgo testing or treatment for COVID-19 because they could not afford to pay for such services.