Late last year, the IRS confirmed the widely anticipated cost-of-living adjustments to various dollar limits for qualified pension plans for 2022. Here are some of the changes outlined in the 2021 Notice- 61. Limit of compensation The maximum amount of compensation that may be taken into account for plan purposesRead More →

NEWRY — At the January 18 meeting of the Newry Board of Selectmen, a new 457 retirement plan was discussed. It’s pre-tax that saves the city money. “Currently the town offers a SIMPLE IRA (Savings Incentive Match Plan for Employees) product, it was set up in 2006, and it isRead More →

To the disappointment of many in the ERISA community, the Supreme Court issued a six-page opinion on January 24 that declined to rule on most of the issues before the Court in Hughes v. Northwestern University, No. 19-1401 (US 24 January 2022). In a unanimous opinion written by Judge Sotomayor,Read More →

HOUSTON–(BUSINESS WIRE)–January 26, 2022– AIG Retirement Services, a leading provider of retirement plans for tax-exempt and public sector employers, today announced that it will serve as the exclusive retirement plan provider for the local county government of Ontario, New York. Ontario County employs more than 1,000 people and offers bothRead More →

HOUSTON, January 26, 2022–(BUSINESS WIRE)–AIG Retirement Services, a leading provider of retirement plans for tax-exempt and public sector employers, today announced that it will be the exclusive retirement plan provider for local government in Ontario County, New York State. Ontario County employs more than 1,000 people and offers both aRead More →

HOUSTON–(BUSINESS WIRE)–AIG Retirement Services, a leading provider of retirement plans for tax-exempt and public sector employers, today announced that it will be the exclusive retirement plan provider for local government in Ontario County, New York State. Ontario County employs more than 1,000 people and offers both a 457(b) deferred compensationRead More →

WASHINGTON — The Supreme Court said Monday that employers must regularly review their retirement offers, ruling unanimously for Northwestern University employees who argued the school’s defined-contribution plan offered a confusing number expensive investment options. Separately, the court added several important cases to its fall docket, including a lawsuit that couldRead More →

WASHINGTON — The Supreme Court said Monday that employers must regularly review their retirement offers, ruling unanimously for Northwestern University employees who argued the school’s defined-contribution plan offered a confusing number expensive investment options. Separately, the court added several important cases to its fall docket, including a lawsuit that couldRead More →

United States: IRS 2021 Achievement Letter Shows Retirement Plan Audit Activity Continues January 10, 2022 McLane Middleton, Professional Association To print this article, simply register or connect to Mondaq.com. On January 6, 2022, the Tax Exempt and Government Entities (“TEGE”) Division of the Internal Revenue Service released its Fiscal YearRead More →

Get instant alerts when news breaks on your stocks. Claim your one week free trial for StreetInsider Premium here. The mobile-optimized digital experience offers engaging and motivating resources that make it easier to take action and achieve financial goals. RADNOR, Pa.–(BUSINESS WIRE)– Lincoln Financial Group (NYSE: LNC) today announced theRead More →

(Photo: Shutterstock) Transferring pension plan operations to a third party, known as “decoupling,” could provide employees with greater options, while reducing costs, risks and administrative burdens for employees, the American Academy of Actuaries in a recent issue. brief. About a third of all private sector workers in the United StatesRead More →

An interim legislative committee tasked with drafting legislation to change the public employee pension plan from “defined contribution” to “defined benefit” will consider hiring a consultant to help draft the new plan. The pension committee is studying proposed changes to “defined contributions” for all new employees hired after January 1,Read More →