On March 14, the American Retirement Association submitted a letter to the Internal Revenue Service supporting the issuance of guidance on catch-up contributions. Specifically, the ARA supports guidance that would permit an employer that is part of a controlled group or affiliated service group to aggregate compensation across multiple entities for purposes of determining whether...
On May 31, the ARA submitted comments to the IRS providing input on the retirement benefits items included in the 2024-2025 Priority Guidance Plan. Specifically, the ARA requested the IRS to issue guidance on several SECURE and SECURE 2.0 Act to provide much needed clarity on catch-up contributions, automatic enrollment, top heavy exemptions, long-term part-time...
On February 20, 2024, the American Retirement Association submitted a comment letter in response to Notice 2024-02 asking the IRS to provide guidance on the eligible automatic enrollment arrangement (EACA) mandate, permit de minimis financial incentives for all employees who make deferral elections (regardless of whether they have a deferral election already have a deferral...
On October 24, 2023, the American Retirement Association wrote to the Internal Revenue Service to comment on Notice 2023-62 that granted a two-year transition period to comply with Section 603 of the SECURE 2.0 Act. (more…)
On July 19, 2023, the American Retirement Association and 49 other organizations wrote to the Internal Revenue Service and the Treasury Department to ask them to grant transition relief for two years from the Roth catch-up contribution requirements under Section 603 of the SECURE 2.0 Act. (more…)