Posts Categorized: Retirement Plans

Final Tax Legislation – Provisions Affecting 401(k) Plans

in Qualified Plans, Retirement Plans, Tax Issues

By Sterling Perkinson and Harrison Taylor While tax reform proposals considered by Congress were rumored to include major changes like significantly lower limits on pre-tax contributions to 401(k) plans, the separate bills passed by the House and Senate included more modest changes for retirement plans. (See our prior blog posts on these bills here and here.) The final tax legislation passed under reconciliation rules left out most of these changes, but retained two provisions impacting 401(k) plans: Extended Rollover Periods for Plan Loan Offsets. The terms of 401(k) plan loans generally provide for the loan to come due in full… Continue Reading

Senate Version of Tax Reform Proposes Compensation and Retirement Plan Changes

in Retirement Plans, Section 409A, Tax Issues

By:  Mark Stember and Todd Castleton On November 10, 2017, the Senate released a document entitled “Description of the Chairman’s Mark of the ‘Tax Cuts and Jobs Act’” prepared by the Joint Committee on Tax summarizing the proposals expected to appear in the Senate tax reform bill scheduled for mark up today, November 13, 2017.  The description provides background and summaries of the proposed tax code changes expected to appear in the legislation, although the text of the bill has not been released as of Monday morning. Compensation Issues The description reflects that both the Code Section 162(m) change and… Continue Reading