Recently the Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2020. In the article linked below, we compare the applicable dollar limits for certain employee benefit programs and the Social Security
457(b)
IRS Announces 2019 Employee Benefit Plan Limits
By Jeffrey Holdvogt, Brian Tiemann & Jacob Mattinson on
Recently the Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2019. The table below compares the applicable dollar limits for certain employee benefit programs and the Social Security wage base for…
New Law Expands “In-Plan” Roth 401(k) Conversions
By McDermott Will & Emery on
Posted in Retirement Plans
by Nancy S. Gerrie, Elizabeth A. Savard and Joseph K. Urwitz
The American Taxpayer Relief Act of 2012 (the “fiscal cliff” bill) allows employers to amend 401(k), 403(b) and governmental 457(b) plans to permit participants to convert pre-tax account balances to Roth account balances. Previously, such conversions were permitted only when the pre-tax amounts…