On October 15, 2024, the IRS published Notice 2024-77, providing guidance toward SECURE Act 2.0 changes to the treatment of “Inadvertent Benefit Overpayments.” The notice gives plan sponsors more flexibility in addressing overpayments while maintaining compliance with tax and fiduciary rules. Read the details below.

On August 23, 2024, the IRS released a private letter ruling they found no fault with an arrangement under which a sponsor allows employees to choose to have an employer contribution allocated among four employee benefit accounts it offers. The ruling highlights a new way for employers to offer customizable benefits while maintaining tax compliance. Takeaways for Plan Sponsors can be found in our latest blog. 

The DOL issued updated guidance in September 2024 to clarify their 2021 cybersecurity recommendations apply to all employee benefit plans under ERISA, not just retirement plans but also health and welfare plans. 

All ERISA-covered plans must adopt robust cybersecurity measures to safeguard sensitive data and comply with DOL standards.

These three blogs cover important updates from the IRS affecting retirement plans and taxpayers. They discuss new guidance for 403(b) plans regarding long-term, part-time employees, clarification on student loan matching contributions in various retirement plans, and disaster relief measures providing extended deadlines for tax filings and payments in affected areas.

On November 1, 2024, IRS Notice (2024-80)1 includes the 2025 cost-of-living adjustments (COLAs) for IRA and retirement plan related dollar limits. Review our blog to see key numbers and 2025 limits compared to 2024 and 2023.

Americans aged 55 and older collectively hold an estimated $52 billion in Health Savings Accounts (HSAs), according to the latest research from an HSA investment firm. As individuals approach Medicare enrollment, their interest in continuing to contribute to HSAs grows, recognizing the value of these accounts in covering both current and future healthcare expenses.

Leveraging your employer’s retirement plan match is one of the easiest ways to boost your financial wellness. With over 50% of employers offering some level of matching, it’s an opportunity you don’t want to miss.

Here’s how to make the most of it.

The Pension Benefit Guaranty Corporation (PBGC) issued a technical update on the deadlines for premium payments for pension plans with plan years beginning in 2025 and later.

The announcement highlighted premiums for plan years starting in 2025 must be paid one month ahead of schedule in accordance with the Bipartisan Budget Act of 2015 (BBA 2015), as opposed to the PBGC's payment of premiums regulation. Read full details and updates provided by PBGC in our latest blog.