85 pages; rev. Dec. 2022, pub. Mar. 10, 2023. "Reminders: ... [1] In tax years prior to 2018, user fees were allowed as miscellaneous itemized deductions subject to 2%-of-adjusted-gross-income (AGI) limit. However, under the Tax Cuts and Jobs Acts (TCJA), miscellaneous itemized deductions are suspended for tax years 2018 through 2025, and therefore user fees aren't allowed for tax years beginning after 2017 and before 2026.... [2] Distributions from an annuity under a nonqualified plan are considered net investment income for the purpose of figuring the NIIT."  MORE >>

61 pages, rev. Apr. 3, 2023. "What's New for 2022: [1] Qualified disaster tax relief.... [2] Certain corrective distributions not subject to 10% early distribution tax.... [3] Statute of limitations rules changed for IRAs.... [4] Modified AGI limit for traditional IRA contributions.... [5] Modified AGI limit for Roth IRA contributions.... What's New for 2023: [1] IRA contribution limit increased.... [2] Increase in required minimum distribution (RMD) age.... [3] Modified AGI limit for traditional IRA contributions increased.... [4] Modified AGI limit for Roth IRA contributions increased."  MORE >>

" [A]ll recordkeeping, valuation and compliance testing system providers must update their software to properly reflect the LTPT employee requirements included in the two SECURE Acts. This will include updates to eligibility, allocation, vesting and compliance testing calculations, plus all system validations, reports and reconciliations.... [I]mplementation of these enhancements requires thoughtful planning so as to create the least amount of disruption to users' continued operation of their plans."  MORE >>

"[T]he Seventh Circuit's ruling appears to be an unfortunate development for plan sponsors and fiduciaries and arguably stands in stark contrast to the recent trend of circuit court opinions dismissing many of these claims." [Hughes v. Northwestern Univ., No. 18-2569 (7th Cir. Mar. 23, 2023)]   MORE >>

"In addition to offering Roth accounts, ... plan sponsors must allow after-tax contributions to their employer-sponsored retirement plan, as well as in-plan Roth conversions, in order for the backdoor conversion to be possible.... When plan sponsors are first hiring a recordkeeper or moving to a new recordkeeper ... it is important that they discuss the backdoor Roth option during conversations about plan features and design elements. "  MORE >>

"Employers who promote financial wellness programs can reap tangible gains in employee focus and productivity. Mandated education on budgeting, debt management and building emergency savings shouldn't be considered an expense or loss of productive time, but an investment in worker wellbeing that will have a long-term impact on the bottom line."  MORE >>

"A government-led plan threatens private 401(k) industry, NAPA head tells national conference. A think tank proponent says the plan focuses on left-behind workers and would pair well with current system."  MORE >>

"The aggregate funded ratio for U.S. corporate pension plans decreased by an estimated 0.6 percentage points month-over-month in March to end the month at 99.1% ... The monthly change in funded ratio resulted from a 3.4% increase in liability value partially offset by a 2.7% increase in asset value."  MORE >>

An unofficial monthly report of the Moody"s Daily Long-term Corporate Bond Yield Averages and Moody"s Daily Treasury Yield Averages (used as benchmarks by some corporate pension plans).  MORE >>

"Victims of severe storms and tornadoes in Arkansas on March 31, 2023, now have until July 31, 2023, to file various individual and business tax returns and make tax payments ... [I]ndividuals and households affected by severe storms and tornadoes that reside or have a business in Cross, Lonoke, and Pulaski counties qualify for tax relief."  MORE >>

"[1] Keep all documents related to equity comp and employment ... [2] Understand your post-termination rules ... [3] Understand the tax impact."  MORE >>