On January 18, 2017, the IRS issued proposed regulations allowing amounts held as forfeitures in a 401(k) plan to be used to fund qualified nonelective contributions (QNECs) and qualified matching ...

The IRS clarified that forfeitures would be permitted to be used to fund QMACs and QNECs. The Internal Revenue Service (IRS) has issued final regulations on the definitions of qualified matching ...

Although the plethora of new laws related to the coronavirus are garnering most of our current focus, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law in ...

Commenters expressed concerns that the current definitions would preclude them from using forfeiture accounts to fund the contributions. The Internal Revenue Service (IRS) is proposing amendments to ...

There are two time sensitive updates affecting employer sponsored retirement plans that companies should be aware of and review to determine whether action is needed. The first update applies to ...