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IRS Announces Benefit Plan Limitations for 2021
Posted by Bernard Kaplan on Thu, Oct 29, 2020 @ 02:37 PM

The IRS has announced the 2021 cost-of-living adjustments applicable to dollar limitations for retirement plans and other items. Most dollar limits remain unchanged for 2021.

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Topics: retirement plans, Bernard Kaplan, 403(b), 401(k), cost-of-living, 457 plan, 2021 retirement plan limitations

Will Retirement Plan Relief Be Part of the Coronavirus Response Effort?
Posted by Bernard Kaplan on Wed, Mar 25, 2020 @ 11:21 AM

As Congress looks for ways to help businesses and individuals with the financial repercussions from the COVID-19 virus, the American Retirement Association (ARA) is pushing for a solution that involves relief from certain plan provisions.

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Topics: retirement plans, Bernard Kaplan, 401(k), the SECURE Act, retirement planning, COVID19, Coronavirus, Families First Coronavirus Response Act, COVID-19

Understanding How the SECURE Act will Impact Retirement Plans and Individuals
Posted by Bernard Kaplan on Tue, Feb 4, 2020 @ 12:06 PM

While changes made by the Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act) are important, we expect considerable relaxation of the laws related to retirement plans once legislation is passed. We will keep you informed as we learn more. Recently, Congress passed SECURE Act) This Act makes a number of changes that impact retirement plans, IRAs, and individual retirement and estate planning strategies. The following highlights many of the provisions of the SECURE Act.

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Topics: retirement plans, Bernard Kaplan, 401(k), Required Minimum Distribution (RMD), defined contribution plans, the SECURE Act, retirement planning

IRS Announces Changes in Benefit Plan Limitations for 2020
Posted by Bernard Kaplan on Fri, Nov 8, 2019 @ 04:22 PM

The IRS has announced the 2020 cost-of-living adjustments applicable to dollar limitations for retirement plans and other items.

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Topics: retirement plans, Bernard Kaplan, 403(b), 401(k), cost-of-living, 457 plan, 2020 Benefit Plan Limitations

IRS Announces Changes in Benefit Plan Limitations for 2019
Posted by Bernard Kaplan on Thu, Nov 1, 2018 @ 06:36 PM

The IRS has announced the 2019 cost-of-living adjustments applicable to dollar limitations for retirement plans and other items.

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Topics: retirement plans, Bernard Kaplan, 403(b), 401(k), cost-of-living, 457 plan, 2019 Benefit Plan Limitations

IRS Announces Changes in Benefit Plan Limitations for 2018
Posted by Bernard Kaplan on Thu, Oct 19, 2017 @ 03:10 PM

Minimal Changes in Dollar Limitations on Benefits and Contributions for Retirement Plans Announced for 2018

The IRS has announced the 2018 cost-of-living adjustments applicable to dollar limitations for retirement plans and other items.

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Topics: retirement plans, Bernard Kaplan, 403(b), 401(k), 2018 Benefit Plan Limitations, cost-of-living, 457 plan

2015 Benefit Plan Limitations
Posted by Bernard Kaplan on Tue, Oct 28, 2014 @ 09:33 AM

Taxpayers May Contribute up to $18,000 to 401(k) plans in 2015

The IRS recently announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. 

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Topics: retirement plans, Bernard Kaplan, 401(k), 2015 Benefit Plan Limitations

IRS’ Latest Compliance Check Program Targets the Roth Feature in 401(k) Plans
Posted by Bernard Kaplan on Thu, Jun 5, 2014 @ 09:12 AM

IRS Sending Employers with Retirement Plans Containing the Roth Feature Questionnaires Seeking Information on Noncompliance Issues

The IRS Employee Plans Compliance Unit has recently launched a Roth Compliance Check Questionnaire Program aimed at helping the IRS understand compliance related to the Roth deferral provision in 401(k) plans. It is intended to verify whether the plans randomly selected comply with the Code as it relates to the Roth provisions, as well as identify any noncompliance issues. If noncompliance is discovered, the IRS may launch a plan audit or advise the employer to seek voluntary correction through the IRS.

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Topics: IRS, Bernard Kaplan, 401(k), noncompliance

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