Tag: retirement plans

Late Friday, the public got its first look at the Tax Cuts and Jobs Act. The 500-plus page bill is the product of separate House and Senate bills that were reconciled in conference. Congressional Republicans appear to have sufficient votes to pass the reconciled bill in both chambers and deliver it to President Trump’s desk…

On October 19, 2017, the Internal Revenue Service (IRS) released Notice 2017-64 announcing cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items. The following is a summary of the limits for tax year 2018. For 401(k), 403(b), and most 457 plans and the federal government’s Thrift Savings Plans: The elective deferral (contribution)…

Question: Is the government mandate to provide a retirement savings account for employees true? If so, when does it take effect? Answer: While this announcement was made on January 28, 2014 and has made news, many of the details have yet to be determined.   President Obama signed a Presidential Memorandum directing the Department of Treasury to create “myRA”, a starter retirement…