Retirement Plan Resources

2024 DEFINED BENEFIT PENSION RETIREMENT PLAN COMPLIANCE CALENDAR
Retirement plan sponsors are responsible for compliance with many ongoing reporting, disclosure and notice requirements. This Retirement Plan Compliance Calendar summarizes the major requirements that apply to Defined Benefit (DB) pension plans for 2024. Due dates are based on a calendar plan year and calendar employer tax year and are applicable to plans subject to the Employee Retirement Income Security Act of 1974 (ERISA).

2024 DEFINED CONTRIBUTION RETIREMENT PLAN COMPLIANCE CALENDAR
Retirement plan sponsors are responsible for compliance with many ongoing reporting, disclosure and notice requirements. This Retirement Plan Compliance Calendar summarizes the major requirements that apply to Defined Contribution (DC) plans for 2024. Due dates are based on a calendar plan year and are applicable to plans subject to the Employee Retirement Income Security Act of 1974 (ERISA).

2024 IRS COST-OF-LIVING ADJUSTMENTS (COLA)
The Internal Revenue Service has announced annual cost-of-living adjustments applicable to pension and profit sharing plans, effective January 1, 2024. In accordance with legislative guidelines, these limitations are adjusted annually to reflect changes in the cost-of-living index. The guidelines are similar to those used to adjust Social Security benefits.

2024 RETIREMENT SAVER'S CREDIT
The Saver's Credit, also known as the Credit for Qualified Retirement Savings Contributions, was designed to help low- to moderate-income individuals save for retirement by providing an additional credit toward tax liability on top of existing retirement savings incentives. Learn who is eligible and how it works.

PENSION PLAN SPONSOR ALERT - DECEMBER 2023
2024 Pension plan outlook: What you need to know
2023 has been a big year for defined benefit (DB) pension plans – continued improvement in funded status, record-setting activity in de-risking and legislative changes from the SECURE 2.0 Act of 2022. One key regulation impacting pension plan sponsors and administrators in 2024 is the final regulations prescribing mortality tables, released by the Internal Revenue Service on October 20, 2023, that must be used for DB Plan funding and certain other purposes, including lump sum benefit calculations under such plans beginning in 2024 and thereafter. 

SECURE 2.0 ACT: ROTH CATCH-UP CONTRIBUTION – AUGUST 2023 GUIDANCE
On August 25, 2023, the Internal Revenue Service issued Notice 2023-62, providing eagerly anticipated relief and guidance relative to the SECURE 2.0 requirement that participants with wages exceeding $145,000 must make catch-up deferrals as (after-tax) Roth catch-up deferrals. The relief came in the form of a two-year administrative transition period extending the compliance date from 2024 to 2026.

SECURE 2.0 ACT BRINGS MAJOR RETIREMENT PLAN CHANGES - JANUARY 2023
On December 29, 2022, the SECURE 2.0 Act of 2022 was signed into law. Our team of experts have taken a deep dive into the key retirement plan provisions and how they may impact business owners and individuals. Access our summary to learn about the significant opportunities created by SECURE 2.0.

2023 TAX TABLES
Access our tax reference guide for 2023. Information contained herein is provided solely for educational purposes only, subject to legislative changes and is not to be construed as investment, legal or tax advice. Prior to acting on this information, we recommend that you seek independent advice specific to your situation from a qualified investment/legal/tax professional. Please reach out to your USICG representative if you have any questions.