IRS Issues
Tech Talk discusses expense ratios in light of Government Office of Accountability analysis.
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While not quite the bump received from last year’s record inflation, the health savings account (HSA) limits will still receive an increase for 2025, as determined under Section 223 of the Internal Revenue Code.
The new limits were announced May 9 by the IRS in Revenue Procedure 2024-25.
The IRS...
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The effects of the SECURE 2.0 Act cover the gamut from profound and far-reaching to the more mundane yet still important—and that includes reporting about certain retirement plans and saving arrangements—including certain Roth arrangements.
In FS-2024-18, a fact sheet issued May 2, the IRS...
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Tech Talk looks at what the Government Accountability Office (GAO) in its June 2023 report to the Chairman of the House Committee on Education and Labor said about the fees charged to 403(b) plan sponsors or participants.
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Tech Talk discusses the kinds of investments that cannot be made with funds from 403(b)s.
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For the IRS, fiscal year (FY) 2023 “was a transitional year,” largely due to funding provided under the Inflation Reduction Act of 2022 and application of technology, according to Commissioner of Internal Revenue Danny Werfel. His made his remarks in the agency’s most recent data book, an annual...
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Tech Talk discusses investment options for funds in 403(b) plans, which generally are more limited than they are for other qualified retirement plans: they may only be invested in annuity contracts or custodial accounts that hold mutual funds.
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The IRS on April 16 issued guidance on certain specified required minimum distributions (RMDs) for 2024. It adds that the final regulations it plans to issue related to RMDs will apply for purposes of determining RMDs for calendar years beginning on or after Jan. 1, 2025.
The guidance is...
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Tech Talk discusses the plan amendment deadline for pre-approved governmental plans under IRS Revenue Procedure 2023-37.
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Tech Talk discusses the interim amendment rules under IRS Revenue Procedure 2023-37.
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Tech Talk addresses the kinds of plan amendments that will not affect an adopting employe’s ability to rely on an opinion letter for a pre-approved plan.
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Tech Talk addresses the amendments providers are required to make under Revenue Procedure 2023-37 to ensure that the form of their plans continues to satisfy qualification requirements or those of Internal Revenue Code Section 403(b).
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Tech Talk discusses recurring remedial amendment cycles in light of Revenue Procedure 2023-37.
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This session was led by Ed Salyers, who worked over 30 years with the IRS before opening his CPA firm.
Attendees aware of his experience clearly appreciated his presentation, in which he explained how plan sponsors, administrators, and TPAs should respond if/when the IRS sends a pre-exam...
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Tech Talk discusses what agencies and officials have a role in regulating and overseeing 403(b) plans or investment options provided to participants.
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Tech Talk discusses what the expense ratio is and what it expresses.
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Tech Talk discusses the administrative fees 403(b) plan service providers charge.
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On Feb. 20, the American Retirement Association (ARA) sent a letter to the Internal Revenue Service (IRS) that addressed technical issues affecting certain SECURE 2.0 provisions. It noted a few that are of particular relevance to retirement plan sponsors and advisors.
More specifically, the ARA...
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Tech Talk provides a comparison of 401(k) plans and 457(b) plans offered by government entities.
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Tech Talk outlines the distributable events for which distributions from governmental 457(b) plans are allowed.
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