The Internal Revenue Service recently announced its cost-of-living adjustments applicable to dollar limitations on benefits and contributions for retirement plans generally effective for Tax Year 2025 (see IRS Notice 2024-80). Most notably, the limitation on annual salary deferrals into a 401(k) or 403(b) plan will increase to $23,500, and the dollar threshold for
defined benefits plan
Department of Labor Provides Guidance on Retirement Plan Obligations When Employees Return From Military Service
By Joshua Rafsky on
Posted in Uncategorized
The Department of Labor recently issued a fact sheet intended to help employers understand their retirement plan obligations under the Uniformed Services Employment and Reemployment Rights Act of 1994 (“USERRA”). The law provides that eligible employees that return to employment following qualified military service must be treated as though their military service was not a…