"I love Roth! how do I do that? ... Restrictions on the election ... How are Roth employer contributions treated for income purposes? ... Are there any unaddressed concerns regarding balance forward plans? ... What about non-401(k) qualified plans? ... Remember: in-plan Roth rollovers may also be available."  MORE >>

"The [IRS] today reminded those aged 73 and older of the deadline to take required minimum distributions from individual retirement arrangements (IRAs) and other retirement plans, and highlighted updates introduced by the SECURE 2.0 Act."  MORE >>

"A true-up contribution is an additional contribution made by an employer to an employee's retirement account (usually at the end of the year) to ensure the employee receives the full employer matching contribution to which the employee is entitled.... The primary reason [for a true-up] is that the employee made elective deferrals unevenly during the year, reaching the elective deferral limit before a full matching contribution could be made."  MORE >>

"With improved engagement and additional features, retirement plans in 2025 can do more for employees and employers.... Financial wellbeing will become embedded in forward-thinking employers' retirement plans and overall strategy.... Employers will focus on nuts-and-bolts issues in 2025 to keep their retirement plans healthy for the long term."  MORE >>

"The Social Security Fairness Act has passed the House and is now awaiting approval from the Senate, which would impact millions of retirees. Lawmakers are already thinking through new ways to further increase access to retirement savings and coverage with another retirement bill, SECURE 3.0. Also, there's a high probability, according to many financial industry experts, that President Trump will extend the 2017 Tax Cuts and Jobs Act that is set to expire at the end of 2025, which will boost retirement savings."  MORE >>

"The Tax Cuts and Jobs Act (TCJA) of 2017 is set to expire at the end of 2025. During 2025, Republican-controlled government will likely pursue extensions of those cuts and may look to the approximately $416 billion in retirement tax incentives for an offset.... The key revenue 'raiser' in this debate is 'Rothification.' "  MORE >>

"The frequency of litigation against plan sponsors is growing -- in fact, it is exploding -- with novel claims being filed in significant numbers that are being copied by other plaintiff lawyers.... [O]ver one-third of large plans, and over one-half of jumbo plans, have been sued for excessive fees in just last eight years.... Some of those companies have been sued more than once.  ... The stakes of the Cornell Supreme Court case are high, because plaintiff lawyers are seeking an end-run around the prudence plausibility standard by recasting prudence claims as prohibited transactions." [Cunningham v. Cornell Univ., No. 21-0088 (2d Cir. Nov. 14, 2023; cert. pet. granted Oct. 3, 2024)]  MORE >>

"Form 15620 differs from the guidance in the [Rev. Proc. 2012-29] as it asks for the name, address and Taxpayer Identification Number of the person transferring the property in exchange for the services (e.g., the employer).... [T]axpayers are not required to use the Form 15620 but can still file their own statement based on the sample from the Revenue Procedure or from the regulations."  MORE >>