As discussed in our previous posts, earlier this summer the PBGC issued FAQs that gave plan sponsors until October 15, 2020, to make their 2019 contributions and have that contribution reflected in the calculation of the variable rate premium due on that date. Under the FAQs, any contributions made for 2019 after the October 15, 2020 deadline could ...
This continues our series of posts regarding the IRS guidance on the SECURE Act. As discussed in our article earlier this year, the SECURE Act changed the eligibility and vesting requirements an employer can use with regards to part-time workers in its 401(k) plan. Earlier this month, the IRS issued Notice 2020-68, which has provided further ...
The IRS has again directed our attention back to the SECURE Act by issuing guidance related to qualified birth or adoption distributions. Withdrawals from a qualified retirement plan before age 59 ½ are generally subject to a 10% tax for early distribution, but as discussed in our blog post earlier this year, the SECURE Act created a new ...