Category: Retirement
Sponsor a Defined Benefit Plan? March 31, 2025 Restatement Deadline Approaching
PLAN RESTATEMENTS The Internal Revenue Service (“IRS”) requires that all pre-approved qualified retirement plan documents be restated in their entirety every six (6) years (this period is often referred to as the “Restatement Cycle”). Pre-approved plans subject to this mandate consist of prototype plan documents. A prototype plan document is…
Want to Make an Impact?—A Win-Win: Using Retirement Funds to Support Your Favorite Cause
Want to Make an Impact?—A Win-Win: Using Retirement Funds to Support Your Favorite Cause Introduction In December 2022, Congress passed the Secure 2.0 Act of 2022 (the “Act”). Included in the Act is a provision that allows certain individuals to make a one-time transfer of up to $50,000 directly from…