The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022.
IRS Grants Temporary Relief for Safe Harbor Plan Sponsors
For struggling 401(k) and 403(b) plan sponsors concerned about making mid-year safe-harbor contributions, new IRS guidance offers temporary relief. Typically, plan sponsors must meet specific regulatory requirements to reduce or …
401(k) Contribution Limits for 2020 | Retirement Account Contributions
The Internal Revenue Service has updated retirement plan contribution limits for 2020 to benefit taxpayers across the board. The new guidelines affect not just 401(k)s but several other account types …
3(38) and 3(21) Fiduciary Investment Advisor Services
If you’re a retirement plan sponsor and/or administrator, did you know that you can outsource several key responsibilities for managing your company’s benefits package for your employees? For example, you …
401k Plans Must Pass Nondiscrimination Testing
Under IRS regulations, 401k plans must pass certain nondiscrimination tests in order to avoid fees, required withdrawals, additional employer contributions, or the cancellation of a plan altogether. The purpose of …
Retirement Plans Have New Contribution Limits for 2019
The IRS has announced new contribution limits for retirement accounts, effective this year. Before you make any 2019 contributions to an IRA, 401(k), or another tax-advantaged account, be sure to go …
