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IRS Issues Ruling on Matching Contributions Based on Student Loan Repayments

September 27, 2018

On Aug. 17, 2018, the IRS released PLR, in which it ruled that an employer’s proposal to make nonelective contributions to employees’ 401(k) accounts.

Ninth Circuit Blocks USC's Attempt to Arbitrate Retirement Plan Lawsuit

August 14, 2018

A University of Southern California case is one of more than twenty ongoing cases challenging private universities’ administration of their retirement plans for university employees.

Final Regulations Clearly Permit QNECs and QMACs Funded by Forfeitures

August 14, 2018

On July 20, 2018, the Internal Revenue Service (IRS) published final regulations clearly permitting employers to pay for qualified nonelective contributions (QNECs) and qualified matching contributions (QMACs) out of a plan’s forfeiture account.

Bipartisan Proposal Introduced to Expand IRS Self-Correction Program

August 14, 2018

On July 26, 2018, Senators Rob Portman (R-OH) and Ben Cardin (D-MD) introduced a bill (S. 3278) regarding Internal Revenue Service (IRS) tax administration. Included in the bill is a proposal (section 401) to allow employers a greater ability to self-cor

Bipartisan Group of Senators Introduce Coordinated Retirement and Savings Bills

August 14, 2018

On July 17, 2018, a Bipartisan group of Senators introduced four bill together. Two of the bills are similar (but not identical) to other pending bipartisan proposals – one improving the rules for automatic enrollment and the second relating to open mul