Under SECURE 2.0, plan sponsors were granted discretion to determine whether or not the plan would recoup "inadvertent benefit overpayments." However, SECURE 2.0, did not define the term, leaving implementation of the new provision unclear for plan sponsors. To provide more guidance on the provision, last year, the IRS released Notice 2024-77
Late last year, the Department of Labor (DOL) launched the public Retirement Savings Lost and Found Database. Created as part of SECURE 2.0, the DOL hopes that the database will serve as a centralized location to help missing participants and beneficiaries locate their retirement benefits. Missing participants remain a focus area on audit ...
If your health insurance premiums have gone up again, you are not alone. For that reason, we frequently get questions from clients on whether there is anything they can do to get high claimants off of their plans. The short answer is no, an employer cannot kick a high claimant off their health plan even if the employee was lasered by your stop loss. There ...