"The IRS is soliciting comments concerning Form 5304-SIMPLE, Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) -- Not for Use With a Designated Financial Institution; Form 5305-SIMPLE, Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) -- for Use With a Designated Financial Institution; Notice 98-4, Simple IRA Plan Guidance.... Written comments should be received on or before August 25, 2025[.]"  MORE >>

Rev. Jun. 10, 2025. "What's New: [1] New retirement plan distributions and their repayments ... [2] 2024 Line 15c Worksheet ... New Line 25c section ... [3] Basis adjustments.... [4] References to 2024 Form 8915-F.... [5] Coronavirus-related distributions.... [6] Modified adjusted gross income (AGI) limit for Roth IRA contributions increased.... [7] Due date for contributions." [Also available: 2024 IRS Form 8606, Nondeductible IRAs]  MORE >>

"The unwelcome addition of an income cap limits the ability of certain employees who are over age 50 to elect catch-up contributions on a 'pre-tax' basis.... To understand what changed and how retirement plans are impacted, [this article] will discuss the pre and post SECURE 2.0 catch-up provisions, identify when a catch-up contribution occurs in plan operation versus participant election, and provide insight into handling the new provisions[.]"  MORE >>

"Although the adult children claimed that the company, plan committee, and trustee breached their fiduciary duty 'to not misrepresent plan provisions' by continuing to list his adult children as beneficiaries on the quarterly plan statements after allegedly knowing he remarried in 2014, the court found that the breach of fiduciary claim failed as a matter of law because Alvin Martinez received an accurate representation of the beneficiary requirements related to spouses in the plan document, beneficiary designation form, and at least nine summary plan descriptions[.]" [LeBoeuf v. Entergy Corp., No. 24-30583 (5th Cir. May 1, 2025)]  MORE >>

"Workplace retirement plan sponsors are increasingly expanding financial wellness initiatives and developing innovative retirement income decumulation strategies, demonstrating increased engagement in supporting employees[.]"  MORE >>

"[t]he United Nations forecasts that, by 2050, the global number of persons over age 65 will reach 1.6 billion, double the number in 2021.... [A]lmost half a billion people will be age 80+, almost triple the number in 2021. In contrast, the number of people below age 25 is likely to decline slightly over that period.... Rising old-age longevity also has key implications for retirement savings targets.... The lengthening lifespans may imply global labor market shortages, as well as burgeoning costs for health care, pensions, and eldercare, with the burden falling on ever-fewer workers per retiree."  MORE >>

"[I]ndividuals and businesses in parts of Missouri affected by severe storms, straight-line winds, tornadoes, and flooding that began on May 16, 2025 ... now have until Nov. 3, 2025, to file various federal individual and business tax returns and make tax payments.... [I]ndividuals and households that reside or have a business in the City of St. Louis and in Scott and St. Louis counties qualify for tax relief."  MORE >>

"President Trump reportedly has named the former chair of the [EEOC] to serve as acting Assistant Secretary of the [DOL's] Employee Benefits Security Administration (EBSA).... Although there currently is no official announcement on the White House's website, EBSA's website does list [Janet Dhillon ] as the acting Assistant Secretary.... In the meantime, the Senate HELP Committee is scheduled to vote [late Thursday June 26] on Daniel Aronowitz's nomination to be the Assistant Secretary of EBSA."  MORE >>