News Archive

"[R]etirement contributions don't have to be a last-minute task. Funding earlier in the year supports cash flow planning, spreads out contributions, and gives your money more time to work for you.... Early SEP IRA and SIMPLE IRA contributions give retirement assets more time to participate in market movement, which may support long term growth depending on market conditions."  MORE >>

"The deadline was December 31, 2026, but [Notice 2026-9] has extended it to December 31, 2027.... This new extension does not apply to qualified plans, 403(b) plans, or 457(b) plans of state and local governments. The deadline for their amendments remain December 31, 2026, with certain exceptions for collectively bargained and governmental plans."  MORE >>

48 pages. "What's New: [1] Automatic enrollment.... [2] Compensation limits for 2025 and 2026.... [3] Elective deferral limits for 2025 and 2026.... [4] Defined contribution limits for 2025 and 2026.... [5] Defined benefit limits for 2025 and 2026.... [6] SIMPLE plan salary reduction contribution limits for 2025 and 2026.... [7] Catch-up contribution limits for 2025 and 2026.... [8] Higher catch-up contribution limit for ages 60 to 63.... [9] Distributions from Roth accounts."  MORE >>

"The extended deadline applies to IRAs under Internal Revenue Code (IRC) Section 408(a), (b) and (h) as well as Simplified Employee Pension (SEP) arrangements and Savings Incentive Match Plan for Employees (SIMPLE) IRAs. It covers all amendments -- required or discretionary -- related to these laws and any associated regulations."  MORE >>

"IRS says [in Notice 2026-9] that it extended the deadline because it and the Treasury Department are still developing model language that may be IRA trustees, custodians, and issuers may use to amend an IRA for compliance with the SECURE 2.0 Act."  MORE >>

"This notice provides guidance relating to amendments under section 501 of ... the SECURE 2.0 Act ... for an individual retirement arrangement (IRAs) under section 408(a), (b), or (h) of the Internal Revenue Code, an employer's SEP arrangement under section 408(k), and an employer's SIMPLE IRA plan under section 408(p). This notice provides that the Department of the Treasury and the [IRS] have extended the deadline to make certain amendments for IRAs, SEP arrangements, and SIMPLE IRA plans to December 31, 2027."  MORE >>

"Just as annual limit increases prompt plan checkups and fresh strategy conversations, SECURE 2.0's mid-year SIMPLE IRA 'off-ramp' gives advisors a timely way to help growing employers pivot into a more robust retirement plan without waiting for the next calendar year. Thanks to SECURE 2.0, employers can now replace a SIMPLE IRA mid-year with a safe harbor 401(k)."  MORE >>

"Depending on your age, the size of your company and (in the case of larger businesses), the amount of your company's contribution, you are subject to one of six SIMPLE IRA deferral limits, including one of three catch-up limits. On November 13, 2025, the IRS announced the 2026 COLA limits for IRAs and retirement plans. Here are the 2026 limits for SIMPLE IRAs."  MORE >>

"The future of SIMPLE IRA plans lies not in reimagining the structure entirely, but in surrounding them with smarter tools, personalized support, and a deeper integration of financial wellness. The question isn't whether these plans are still relevant -- the answer is yes. The question is how to evolve them to meet the next generation of savers where they are."  MORE >>

48 pages. "What's New: [1] Compensation ... [and] catch-up contribution limits for 2024 and 2025 ... [2] Plans established after the end of tax year.... [3] Increased small employer pension plan startup cost credit.... [4] Employer contributions credit.... [5] Small employer military spouse participation credit.... [6] Designated Roth nonelective contributions and designated Roth matching contributions.... [7] Matching contributions on account of qualified student loan payments.... [8] Starter 401(k) deferral-only arrangement.... [9] Additional nonelective contributions under a SIMPLE IRA plan.... [10] Midyear replacement of SIMPLE IRA plan with safe harbor 401(k) plan.... [11] Roth IRAs under a SEP arrangement and Roth SIMPLE IRAs under a SIMPLE IRA plan.... [12] Pension-Linked Emergency Savings Accounts. "  MORE >>

49 pages; Mar. 13, 2025. "What's New: [1] Compensation ... [and] catch-up contribution limits for 2024 and 2025 ... [2] Required minimum distributions (RMDs).... [3] Plans established after end of tax year.... [4] Increased small employer pension plan startup cost credit.... [5] Employer contributions credit.... [6] Small employer military spouse participation credit.... [7] Designated Roth nonelective contributions and designated Roth matching contributions.... [8] Matching contributions on account of qualified student loan payments.... [9] Starter 401(k) deferral-only arrangement.... [10] Additional nonelective contributions under a SIMPLE IRA plan.... [11] Midyear replacement of SIMPLE IRA plan with safe harbor 401(k) plan.... [12] Roth IRAs under a SEP arrangement and Roth SIMPLE IRAs under a SIMPLE IRA plan.... [13] Pension-Linked Emergency Savings Accounts. "  MORE >>

"SECURE 2.0 allowed mid-year conversions from a SIMPLE IRA to a safe-harbor 401(k) starting in 2024 if a few rules [are] followed ... [M]any current SIMPLE IRA plan sponsors recognize that a conversion to a safe-harbor 401(k) may be beneficial to both the business and its employees."  MORE >>

Detailed chart of limits for qualified plans, as well as IRA/Roth-IRA and ESA phase-out ranges and HSA Limitations.  Includes Rollover Chart.  MORE >>

This chart compares the 4 common types of plan designs often utilized by small employers.  MORE >>

"While [Notice 2024-63] applies to plan years beginning after Dec. 31, 2024, employers offering QSLPs for the 2024 plan year can rely on a good-faith, reasonable interpretation of the statutory QSLP match provisions. IRS considers following the notice before its applicability date to be a good- faith, reasonable interpretation of the statute. IRS is accepting comments until Oct. 18."  MORE >>

"[S]ection 408(p)(11), allowing the mid-year change from a SIMPLE plan to a safe harbor 401(k) plan, is an exception to the general rule ... that says an employer is prohibited from maintaining both a SIMPLE IRA and another plan, contract, pension or trust ... It is the only exception. This means that you cannot also add in a Cash Balance or Defined Benefit plan in the year of the termination of the SIMPLE."

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"The new SECURE 2.0 mid-year termination rules for SIMPLE IRA plans provide greater flexibility to buyers and sellers seeking to terminate a SIMPLE IRA plan mid-year in connection with a corporate transaction, and those rules may prove useful for fully integrating continuing employees onto the buyer's benefits platform immediately or soon after the closing of the M&A transaction."

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44 pages; Jul. 5, 2024. "What's New: [1] Compensation ... Elective deferral ... Defined contribution ... Defined benefit ... SIMPLE plan salary reduction contribution ... [and] Catch-up contribution limits for 2023 and 2024 ... [2] Required minimum distributions (RMDs).... [3] Plans established after end of taxable year.... [4] Increased small employer pension plan startup cost credit.... [5] Employer contributions credit.... [6] Small employer military spouse participation credit.... [7] Designated Roth nonelective contributions and designated Roth matching contributions."

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"For plan years beginning after December 31, 2023, employers may terminate a SIMPLE IRA plan at any time during a calendar year and replace it with a safe harbor section 401(k) plan. Notice 2024-02 clarifies that the establishment of a safe harbor 401(k) plan is considered an exception to the SIMPLE IRA exclusive plan rule. The effective date of the safe harbor plan must be the day after the termination date of the SIMPLE IRA plan."

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44 pages; Mar. 7, 2024. "What's New: [1] Compensation ... Elective deferral ... Defined contribution ... Defined benefit ... SIMPLE plan salary reduction contribution ... [and] Catch-up contribution limits for 2023 and 2024 ... [2] Required minimum distributions (RMDs).... [3] Plans established after end of taxable year.... [4] Increased small employer pension plan startup cost credit.... [5] Employer contributions credit.... [6] Small employer military spouse participation credit.... [7] Designated Roth nonelective contributions and designated Roth matching contributions."  MORE >>

"Before SECURE 2.0, an employer had to wait until the end of the year to switch from a SIMPLE IRA to a 401(k) plan.... Now, under SECURE 2.0, an employer can replace its SIMPLE IRA with a safe harbor 401(k) at any point during the year. For a mid-year transition, the employer contribution obligation for the year is prorated. Any employee SIMPLE IRA deferrals count toward the 401(k) limit."  MORE >>

"On the surface, the solo 401(k) may appear to be unquestionably the preferable option due to having a higher potential contribution amount, along with the low fees and vast suite of investment options that SEP-IRAs have always enjoyed.... However, several nuances make this a more complicated choice for clients beyond just asking them if they want to maximize tax-favored savings limits."

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44 pages; Jan. 31, 2024. "What's New: [1] Compensation limits for 2023 and 2024.... [2] Elective deferral limits for 2023 and 2024.... [3] Defined contribution limits for 2023 and 2024.... [4] Defined benefit limits for 2023 and 2024.... [5] SIMPLE plan salary reduction contribution limits for 2023 and 2024.... [6] Catch-up contribution limits for 2023 and 2024 ... [7] Required minimum distributions (RMDs)."

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"Starting in 2024, a SIMPLE IRA can be replaced with a safe harbor 401(k) plan mid-year. The replacement plan can be either a traditional safe harbor plan or a Qualified Automatic Contribution Arrangement (QACA) safe harbor 401(k) plan. The replacement ... plans must be effective as of the termination date of the SIMPLE IRA."  MORE >>

"If you have a SIMPLE IRA, ... [but] want to change to a 401(k) plan in 2024, you need to take action by November 2. That's the date that employers must provide notice to their employees that 2023 will be the last year for the SIMPLE IRA, and that it will be replaced by a 401(k) plan in 2024."  MORE >>