Miller Cooper, Alliance Pension and BT Partners held a Grand Opening of their new downtown Chicago office. Ms. Fitzpatrick said: “We really want the new office to be a springboard for a new level of collaboration and connection. When we were designing the space, we...
At Alliance, we proudly support mental health and wellbeing to recharge so you can be the best at doing your job. This month, we had a raffle for four tickets to see Chicago at Ravinia with center seats in the third row.
Exchange-Traded Funds (ETFs) are not currently permitted to be traded in certain plans utilizing individual insurance contracts in retirement plans. The new regulation will remove this restriction to allow access to ETFs. Applicable plans: 401(a), 401(k), 403(b) and...
First responders will be allowed to exclude service-connected disability pension payments from gross income after reaching retirement age. Applicable plans: 401(a), 401(k), 403(a), 403(b), governmental 457(b) plans. Effective 1/1/2027.
The nonrefundable Saver’s Credit for some IRA and retirement plan contributions will be superseded by a Federal Saver’s Match contribution that is deposited into an IRA or retirement plan. The match is equal to 50% of the amount deferred by the participant, up to...
Defined contribution plans will be required to send a paper benefit statement no less than once per year. (For ERISA-covered plans, the other three required quarterly statements can be delivered electronically.) For defined benefit plans, a paper benefit statement...
Long-term care contracts purchased with retirement plan distributions. This provision will permit retirement plans to distribute up to $2,500 per year for the payment of premiums for certain specified long term care insurance contracts. Such distributions are exempt...
Review and report to Congress relating to reporting and disclosure requirements – Multi-agency deadline 12/29/2025. With combined efforts, The Treasury Department, DOL, and Pension Benefit Guaranty Corporation (PBGC) are ordered to evaluate recording and disclosure...
Higher catch-up limits for employees at age 60, 61, 62, and 63. Beginning at age 50, participants can contribute an extra $7,500 (indexed annually) into a workplace 401(k) or 403(b) retirement plan, called a “catch-up” contribution. The new provision permits an...
Statistics show that automatic enrollment is successful in nearly doubling plan participation. This provision will require 401(k) and 403(b) plans created on or after December 29, 2022 to automatically enroll new employees starting at a rate of at least 3% but not...
