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IRS Raises Several Annual Retirement Plan Limits for 2019

HR Daily Advisor

For 2019, the Internal Revenue Service (IRS) is raising most of the annual threshold and benefit levels that apply to retirement plans, the IRS announced on November 1. Employers and retirement plan administrators can apply the new rates as they prepare their plans for next year and conduct nondiscrimination testing.

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What CA Employers Should Include in an Employee Handbook

Zenefits

There are many benefits to an employee handbook. It can be a resource for employees in learning about company policies, benefits, and conduct that the business expects. A California employee handbook can also prevent miscommunication and serve as an employer defense if an employee complaint lands in court.

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Don’t Let Your Data or Participants Get Lost in Space

HR Daily Advisor

The possibility of cyberdata sabotage is now a day-to-day threat that frequently makes the headlines—and employee benefit plans are not spared exposure to data sabotage. Employee benefit plan administration has become an outsourced commodity. They should consider extending that process to retirement plans.

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Plan Sponsors Must Now Analyze 401(k) Plan Administration (Part 1)

HR Daily Advisor

When the Tax Cuts and Jobs Act (TCJA) was signed into law December 22, 2017, several proposed changes to the federal tax code that would have affected tax-qualified retirement plans were dropped. Castleton is counsel with Kilpatrick Townsend & Stockton’s Employee Benefits Practice in the firm’s Washington, D.C.,

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Court Supports Plans’ Freedom to Craft Own Process for Beneficiary Designations

HR Daily Advisor

Beneficiary designations, and disputes over them, can be a disproportionate drain of time and other resources spent by administrators of tax-qualified retirement plans. May 3, 2017). designer491 / iStock / Getty Images Plus. Plan Administrator for DuPont Savings and Investment Plan , 555 U.S. 285 (2009)). Rejection of Doctrine.

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Comments May Enhance ERISA Council’s Attempt to Streamline Plan Disclosures

HR Daily Advisor

Department of Labor (DOL), comprising employee benefits professionals and employee representatives, is focusing on “Mandated Disclosures for Retirement Plans.”. The testimony is listed on the DOL website; it is provided in two sections, one related to health benefit plans and the other to retirement plans.

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IRS Offers 2 Methods to Correcting Missed Plan Loan Payments

HR Daily Advisor

Many qualified profit-sharing and 401(k) retirement plans allow participants to take loans from their account balance. Office of Chief Counsel Memorandum 201736022 (August 30, 2017)). Castleton is counsel with Kilpatrick Townsend & Stockton’s Employee Benefits Practice in the firm’s Washington, D.C.,