More retirement-related regulatory news for plan sponsors, including links to detailed information.
Guidance on midyear amendments to safe harbor 401(k) plans and notices
The Internal Revenue Service (IRS) has posted a summary of Notice 2016-16. This issued guidance is intended to help plan sponsors comply with the safe harbor plan and notice rules if they make midyear plan changes.
To read the entire notice, click here.
IRS compliance questions on the 2015 Form 5500-series returns
Because the proposed 2015 IRS compliance questions on the Forms 5500 and 5500-SF and Schedules H, I, and R were not approved by the Office of Management and Budget when the 2015 Form 5500 and Form 5500-SF were published on December 7, 2015, the IRS has decided that plan sponsors should not complete these questions for the 2015 plan year.
Trends in employer costs for defined benefit plans
A new article published on the Bureau of Labor Statistics website explores how defined benefit plan costs fluctuate by industry, occupation, establishment size, and region. The article also reviews trends in costs for employees with access to these plans from 2008 to 2015.
To read the entire article, click here.