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IRS Announces Updates to 2020 Retirement Plan Limits

IRS Announces Updates to 2020 Retirement Plan Limits

Each year the IRS provides cost of living adjustments to benefit plan limits to assist sponsors in administering their plans. On November 6, the IRS released Notice 2019-59, which provided 2020 ...
Foster & Foster Expands Plan Administration Services to Illinois Fire and Police Pension Funds

Foster & Foster Expands Plan Administration Services to Illinois Fire and Police Pension Funds

Foster & Foster’s Plan Administration Division was established in Fort Myers, FL in 2013 and currently provides third-party administration services to over 40 Florida pension plans. The ...
IRS Announces 2020 Flexible Spending Arrangement (FSA) Contribution Limit

IRS Announces 2020 Flexible Spending Arrangement (FSA) Contribution Limit

The Internal Revenue Service (IRS) has announced that the 2020 limit on employee pre-tax FSA contributions will rise to $2,750, up from $2,700 in 2019. Revenue Procedure Bulletin 2019-44 provides ...
Overview of Selected HSA Banking Alternatives

Overview of Selected HSA Banking Alternatives

We’re frequently asked which is “the best” HSA bank for our clients’ employees, but it’s not an easy answer. Lately, employers are moving away from using traditional ...
SOA Mortality Tables Finalized for Private-Sector Retirement Plans

SOA Mortality Tables Finalized for Private-Sector Retirement Plans

In May 2019, the Society of Actuaries (SOA) released an exposure draft of the Pri-2012 Mortality Tables for private-sector retirement plans. These new tables were based on data collected for 2010 – ...
SOA Releases Mortality Improvement Scale MP-2019

SOA Releases Mortality Improvement Scale MP-2019

When the Society of Actuaries (SOA) released the RP-2014 mortality table in 2014, they included mortality improvement scale MP-2014. The purpose of this scale is to reflect mortality improvement ...
PBGC Releases Latest Projections

PBGC Releases Latest Projections

The Pension Benefit Guaranty Corporation (PBGC) released its fiscal 2018 projections report in August 2019. The PBGC operates insurance programs for Single-Employer and Multiemployer pension plans ...
Changes to the ACA Affordability Standard for 2020

Changes to the ACA Affordability Standard for 2020

Recently, the IRS issued Revenue Procedure Bulletin 2019-29, which decreases the affordability percentage under the Employer Mandate. The “affordability standard” is a component of ACA that is ...