Preliminary IRS guidance regarding traditional and QACA safe harbor 401(k) plans under the Secure Act
By EsqSocial Corporation 28/01/21
The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), includes a number of provisions relating to safe harbor 401(k) plans. On December 9, 2020, the Internal Revenue Service (IRS) issued Notice 2020-86 which provides preliminary guidance clarifying certain aspects of the SECURE Act provisions relating to safe harbor 401(k) plans. Although this article addresses safe harbor 401(k) plans, Notice 2020-86 applies on similar terms to Section 403(b) plans that apply safe...
By: Thompson Coburn LLP