Newport Group’s Compensation Consulting team has issued our 2016/2017 CRB Trends Report. It features key survey data as well as commentary and analysis of the latest trends and strategies for managing compensation, retirement and benefits programs. Click here to read our Executive Summary.
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Each year, the Internal Revenue Service publishes updated dollar limitations for tax-qualified defined benefit and defined contribution plans. The IRS announced that there will be cost of living adjustments to certain qualified plan limitations for 2017.
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Along with proposed regulations under Code Section 409A that were issued on June 22, 2016, the Internal Revenue Service simultaneously published proposed regulations providing updated guidance on deferred compensation plans under Internal Revenue Code Section 457. The regulations will generally apply to amounts deferred in calendar years after the date they are finalized, and to amounts deferred prior to that date that were not previously included in income. Until finalized, employers may rely on the proposed regulations.
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On April 6, 2016, the Department of Labor (“DOL”) published final regulations defining the types of financial communications with plan sponsors and participants that constitute fiduciary advice under ERISA.
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The IRS announced yesterday that there will be no cost of living adjustments to the qualified plan limitations described below for 2016.
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In IRS Announcement 2015-19, the IRS announced it is making changes to its determination letter program.
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The Internal Revenue Service (IRS) recently reminded retirement plan sponsors to keep certain records in regards to hardship withdrawals and plan loans.
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The Supreme Court held that fiduciaries of ESOPs are not entitled to a “presumption of prudence” when their decisions to buy or hold employer stock are challenged.
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Last month, the IRS announced that a Compliance Initiative Project (CIP) was underway, involving compliance with Internal Revenue Code Section 409A.
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