The Final Rule on Hardship Distributions

The Final Rule on Hardship Distributions

The Final Rule on Hardship Distributions On Sept. 23rd, the IRS published a final rule that relaxes several existing restrictions on participant hardship distributions from defined contribution plans. Some of these changes are mandatory, requiring employers to make...
Safe Harbor 401(k) Plan Design

Safe Harbor 401(k) Plan Design

Safe Harbor 401(k) Plan Design Being the bearer of bad news isn’t fun. When the third-party administration firm relays that aspects of the annual compliance testing have failed causing many of the company’s executives to receive taxable distributions from the plan, it...
IRS Announces Limits for 2020

IRS Announces Limits for 2020

IRS Announces Limits for 2020 On November 6th, 2019, the IRS announced the cost of living adjustments affecting the dollar limitations for retirement plans.   Contribution and benefit increases are based on a calculated change in the Consumer Price Index and are...