IRS Memorandum on Calculating Maximum Loan Amount

The IRS issued an internal memorandum to its auditors on calculating the maximum loan amount where there is or has been a prior loan. Document Excerpt This memorandum directs EP Examinations staff to determine, as set forth below, the amount available for a loan where the participant has received multiple loans during the past year […]

Additional Day Extension To Adopt Pre-approved Defined Contribution Plans

After providing a one year extension from April 30, 2016 to April 30, 2017, the IRS has extended the deadline for certain individually designed plans to adopt a pre-approved plan to May 1, 2017. Document Excerpt The IRS has extended the deadline from Sunday, April 30, 2017, to Monday, May 1, 2017, for certain employers […]

HHS Finalizes Market Place Stabilization Rule

The HHS has released its final marketplace stabilization rule which includes a broader ability to offer policies that are below the ACA standards as well as a reduced open enrollment period. Document Excerpt This rule finalizes changes that will help stabilize the individual and small group markets and affirm the traditional role of State regulators. […]

Trump Signs Legislation Nullifying DOL State-Based Savings Safe Harbor

President Trump signed into law H.J. Res. 67 which had provided a safe harbor auto enrollment provision for State-based (and some city based) retirement savings arrangements for employees in the private sector. Document Excerpt Link

Fiduciary Rule Officially Delayed for 60 Days

DOL officially delays its fiduciary conflict of interest regulation along with the associated prohibited transaction exemptions. Document Excerpt This document extends for 60 days the applicability date of the final regulation, published on April 8, 2016, defining who is a “fiduciary” under the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code […]

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