Related to: Employee Benefits Law
Earlier this week, the Internal Revenue Service issued the various retirement plan limitations for 2020. Here are some of the most important changes from 2019: Elective Deferral Limit: $19,500 (increased from $19,000 in 2019) Catch-Up Contributions: $6,500 (increased from $6,000 in 2019) 415 (Total) Plan Limit: $57,000 (increased from $56,000 in 2019) Compensation Limit: $285,000 (increased…
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Earlier this week, the Internal Revenue Service issued the various retirement benefit plan limitations for 2019. There are changes to some of the most important numbers from 2018: Elective Deferral Limit $19,000 Catch-Up Contributions $6,000 415 (Total) Plan Limit $56,000 Compensation Limit $280,000 The attached chart shows the historical limits from 2015 through 2019,…
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Earlier this week, the Internal Revenue Service issued the various retirement plan limitations for 2018. There are changes to some of the most important numbers from 2017: Elective Deferral Limit $18,500 Catch-Up Contributions $6,000 415 (Total) Plan Limit $55,000 Compensation Limit $275,000 See an up-to-date chart that shows the historical limits from 2014 through 2018,…
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October 28, 2016 Earlier this week, the Internal Revenue Service issued the various retirement plan limitations for 2017. There are only a few changes to the most important numbers from 2016, including: Elective Deferral Limit $18,000 Catch-Up Contributions $6,000 415 (Total) Plan Limit $54,000 Compensation Limit $270,000 See an up-to-date chart that shows the historical limits…
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A federal district court in Wisconsin recently dismissed one of the U.S. Equal Employment Opportunity Commission’s (“EEOC”) well-publicized attacks on employer wellness programs. Our earlier legal updates regarding this case and some other EEOC challenges can be found here: August 2014 Legal Update and October 2014 Legal Update. In EEOC v. Flambeau, Inc., No. 14-cv-638…
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Although many employers have already taken steps to satisfy their reporting obligations under the Affordable Care Act (“ACA”), the IRS recently announced several important changes that delay the ACA reporting deadlines and also answer some questions that affect employers that offer employees cash for opting out of health care coverage. As explained below, employers that…
Read MoreEarlier today, the Internal Revenue Service issued the various retirement plan limitations for 2016. The most important numbers have not changed from 2015. Elective Deferral Limit—$18,000 Catch-Up Contributions—$6,000 415 (Total) Plan Limit—$53,000 Compensation Limit—$265,000 See an up-to-date chart that shows the historical limits from 2012 through 2016, and a reference to the IRS sources. For…
Read MoreEarlier today, the U.S. Supreme Court issued a unanimous ruling that highlights the need to review 401(k) plan fees. The case is Tibble v. Edison and it reinforces the fact that employers need to understand 401(k) plan fees, minimize 401(k) plan fees and monitor 401(k) plan investments. The Tibble v. Edison Case. Tibble v. Edison…
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