Defined Contribution Plans

In a positive sign that lawmakers are committed to fixing several errors contained in the SECURE 2.0 Act, the House and Senate have just released a draft technical corrections bill, including changes to allow catch-up contributions and provide parity for Starter 401(k)s championed by the American... READ MORE

The guidance the IRS just issued in Revenue Procedure (Rev. Proc.) 2023-37 on qualified and 403(b) pre-approved plans made some significant changes in order to conform, clarify, and update the rules. Here’s a look at some of the key changes, which generally became effective on Nov. 21, 2023, with... READ MORE

The IRS in Revenue Procedure (Rev. Proc.) 2023-37 has issued fresh guidance on qualified pre-approved plans and 403(b) pre-approved plans which combines, conforms, clarifies, and updates rules for those plans set forth in prior revenue procedures.    Rules for Pre-Approved Plans Rev. Proc. 2023-... READ MORE

You have been instructed to terminate a defined benefit plan and a 401(k) plan as soon as possible. The DB plan is not covered by the Pension Benefit Guaranty Corporation (PBGC), and there are no safe-harbor contributions under the 401(k) plan, so you prepare the paperwork with today as the date of... READ MORE

Retirement coverage is not universal, and any employer can find it challenging not only to cover employees, but also to motivate them to participate in the retirement plan that it offers. But it can be particularly challenging for some industry sectors.  Leaders from one sector—post-acute care... READ MORE

There are challenges facing not only those saving for their retirement, but also the retirement industry and professionals who work to help them to do so. A panel of industry leaders recently offered their perspective on meeting those challenges in order to better facilitate effective saving for... READ MORE

Halloween is the time of year when one’s thoughts turn to trick-or-treat, ghosts and goblins, and things that go bump in the night. But what keeps—or should keep—plan fiduciaries up at night?  Well, there are the things like… Re-enrollment Automatic enrollment has long been shown to transform... READ MORE

To encourage so-called micro-businesses with less than 10 employees to adopt retirement plans, a bipartisan pair of House lawmakers introduced legislation that would increase and alter the way the start-up credit is calculated. Reps. Claudia Tenney (R-NY) and Dan Kildee (D-MI)—who are both members... READ MORE

The nation’s youngest members of the workforce have ambitious goals to retire at an early age, though they also believe they are facing more obstacles to do so than those before them. In fact, according to Charles Schwab’s annual nationwide survey of 401(k) plan participants, Gen Z workers (21–26... READ MORE