2023 Cost of Living Adjustments for Qualified Retirement Plans

BDO’s ERISA Center of Excellence is pleased to provide you with this summary of key cost-of-living adjustments (COLA) for 2023 as announced by the Internal Revenue Service and the Social Security Administration. Refer to our alert for more details.

Have Questions? Contact Us

Related Resources

Article

ERISA Roundup - Q1 2024

April 18, 2024
Article

ERISA Roundup - Q1 2024

April 18, 2024

This first quarter 2024 ERISA Roundup is a compilation of our most recent insights and podcast episodes. It includes a discussion of key implications and compliance concerns for plan sponsors navigating SECURE Act and SECURE 2.0 changes to eligibility for “long-term part-time” employees in 401(k) plans.

Read More

Article

New DOL Regulations May Bring Clarity to ESOP Valuation Process

April 8, 2024
Article

New DOL Regulations May Bring Clarity to ESOP Valuation Process

April 8, 2024

While a legal framework for employee stock ownership plans (ESOPs) was established by the Employee Retirement Income Security Act of 1974 (ERISA), formal guidance for determining the fair market value (FMV) of private company shares sold to an ESOP has not been issued in the 50 years since then.

Read More

Article

Complying with SECURE Act Changes to Long-Term Part-Time Employee Eligibility and IRS Form 5500

March 18, 2024
Article

Complying with SECURE Act Changes to Long-Term Part-Time Employee Eligibility and IRS Form 5500

March 18, 2024

Understanding the new eligibility criteria for long term part time employees and the updating counting method on Form 5500 is essential for operational compliance. Read the insight to see what these changes mean for plan sponsors.

Read More

Article

Treasury, White House Release FY 2025 Budget and Green Book Detailing Administration’s Tax Proposals

March 15, 2024
Article

Treasury, White House Release FY 2025 Budget and Green Book Detailing Administration’s Tax Proposals

March 15, 2024

The White House on March 11 released President Biden’s fiscal year 2025 budget proposal, followed by the U.S Treasury’s release of the General Explanations of the Administrations Fiscal Year 2025 Revenue Proposals, commonly known as the Green Book, which includes a 256-page explanation of the administration’s tax proposals.

Read More