Coming Soon: Determination Letter Program for Individually Designed Section 403(b) Plans

JAHIZ NOEL AGARD and KATURI KAYE, April 27, 2023 Starting in June 2023, the Internal Revenue Service (the “IRS”) will start accepting determination letter applications for individually designed Internal Revenue Code Section 403(b) plans (“section 403(b) plans”) (also known as tax-sheltered annuity plans). As announced in Revenue Procedure 2022-40 (issued in November 2022), plan sponsors […]

California to Move Forward with Auto-IRA Despite Loss of ERISA Safe Harbor

T. KATURI KAYE, June 2017    On May 18, 2017, California State Treasurer John Chiang and Senate President Pro Tempore Kevin de León (D-Los Angeles) issued a press statement announcing that California remains on track to implement the California Secure Choice Retirement Savings Program (“Secure Choice” or the “Program”), a state-sponsored program requiring employers that […]