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IRS Notice Clarifies SECURE 2.0 Automatic Enrollment, Tax Credits ...
WEBDec 28, 2023 · Section 101 of SECURE 2.0 requires defined contribution plans that are created after the law was enacted on December 29, 2022 to have automatic enrollment and deferral features starting on January 1, 2025. Specifically, plans must enroll participants at contribution levels of between 3% and 10% of salary …
The ABCs of Special Situations Funds - PLANADVISER
WEBSep 15, 2015 · Braitberg says special situations funds share several characteristics. First, there are alignments of interest that exist between the fund’s general partners and the investors. “First and foremost,” he says, “the special situations fund is primarily created for the general partners. They see a great investment opportunity for the ...
IRS Publishes Revised Form 8881 - PLANADVISER
WEBDec 18, 2023 · Last week, the IRS issued a revised form for small businesses to apply for an enhanced tax credit for starting an employee retirement plan, effective from 2023 onward. The simple, Form 8881 marks a symbolic step for a key part of the sweeping SECURE 2.0 Act of 2022 passed at the end of last year. That policy increased the three-year startup tax ...
401GO Raises $12M Series A Funding Led by Next Frontier Capital
WEBApr 25, 2024 · Natalie Lin. 401GO, a provider of 401 (k) plans tailored for small enterprises and individuals, announced the conclusion of its Series A funding round worth $12 million. Next Frontier Capital led the investment, with Rally Ventures and existing backers Impression Ventures and Stout Street Capital also contributing to the round.
House Approves Measure to Allow CIT Use in 403(b) Plans
WEBMar 8, 2024 · The U.S. House of Representatives voted on Thursday to allow 403 (b) retirement plans to include collective investment trusts, a generally lower-cost investment menu option available in other defined contribution plans, including 401 (k)s. The Retirement Fairness for Charities and Education Institutions Act, which makes amendments to …
Indemnification Clauses and Provider Contracts - PLANADVISER
WEBJul 10, 2015 · Indemnification clauses are promises by the service providers, stipulating that if they do something wrong which causes harm to the plan or causes a third party to sue the sponsor, the service provider will cover their legal costs, explains Fred Reish, chair of the Financial Services ERISA practice at Drinker, Biddle & Reath in San Francisco ...
Ascensus to Acquire Mutual of Omaha’s 401(k) Business
WEBMar 27, 2024 · Ascensus announced Wednesday it had reached an agreement to acquire Mutual of Omaha’s 401 (k) recordkeeping business after providing outsourced retirement services to the firm for more than 20 years. With the deal, Ascensus will take on full responsibility of the insurance firm’s recordkeeping …
AXA Equitable Enhances Variable Annuity Offering - PLANADVISER
WEBMay 30, 2007 · In an announcement, AXA Equitable said it has added a 6.5% roll-up benefit for contracts with certain Guaranteed Minimum Income Benefit (GMIB) and Guaranteed Minimum Death Benefit (GMDB) riders in addition to its existing 6% roll-up benefit. The GMIB provides contract holders with a “floor” of guaranteed income for life derived from a …
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