Featured Jobs
|
Pattison Pension
|
|
Defined Benefit Plan Consultant/Actuarial Analyst Sentinel Group
|
|
Strategic Retirement Plan Consultant Retirement Plan Consultants
|
|
MAP Retirement
|
|
Plan Administrator, Defined Benefit & Cash Balance The Pension Source
|
|
Regional Vice President, Sales MAP Retirement
|
|
BPAS
|
|
DWC - The 401(k) Experts
|
|
MAP Retirement
|
|
Sentinel Group
|
|
Retirement Relationship Manager MAP Retirement
|
Free Newsletters
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
|
|
|
IRS Issue Snapshot: 403(b) Plans -- Catch-Up Contributions
Internal Revenue Service [IRS] 
[Guidance Overview] May 7, 2020 "Audit Tips: [1] Review the Forms W-2 to determine if any employee has exceeded the basic IRC Section 402(g) limit. This indicates that the employee made catch-up contributions. [2] Determine if the plan document permits the age 50 catch-up or the special 403(b) catch-up contributions. For plans that permit both types, make sure the contributions are applied to the limits in the proper order. [3] Verify that the qualified organization keeps the records necessary to calculate the special 403(b) catch-up and that the calculations are accurate." MORE >> |
| Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
| An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |