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ERISA Requirements Calendar

January 2020

Sponsors of defined benefit and defined contribution plans should keep the following deadlines and other important dates in mind as they work toward ensuring compliance for their plans in 2020. All plans are different, so some deadlines may not apply or may have dates shifted based on your organization’s fiscal year. For additional support, please contact your BDO representative.

Click the red plus signs in the calendar below for details around each deadline.
 

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CONTRIBUTION PLAN LIMITS AND OTHER ROLLING NOTICES FOR 2020


In addition to those important deadlines and dates, plan sponsors should be aware of the contribution plan limits and other rolling notices for 2020:
  • Employee salary deferral limits for 401(k), 403(b) and 457 plans will be $19,500. Age 50 catch-up contribution limit increases to $6,500.
  • Health Savings Account contribution limit is $3,550 (single) and $7,100 (family). Age 55 catch-up contribution stays at $1,000.
  • Traditional and Roth Individual Retirement Account contribution limit will be $6,500. catch-up contributions for participants age 50 and over is $1,000.
  • Limitation for the annual benefit under a defined benefit plan under Section 415(b)(1)(A) will be $230,000.
  • The dollar amount used to define “highly compensated employee” under Section 414(q)(1)(B) will be $130,000.
  • Newly eligible employees must receive a Summary Plan Description (SPD) within 90 days.
  • Provide quarterly statements and fee information to participants.
 
 

KEY CONTACTS:


BETH GARNER
Assurance Partner; National Practice Leader, Employee Benefit Plan Audits

KIM FLETT
Compensation and Benefits Services Managing Director; National Practice Leader, ERISA

MARY ESPINOSA
Assurance Director, West Region Practice Leader

JODY HILLENBRAND
Assurance Director, Southwest Region Practice Leader

LUANNE MACNICOL
Assurance Partner, Central Region Practice Leader

WENDY SCHMITZ
Assurance Director, Atlantic Region Practice Leader

JOANNE SZUPKA
Assurance Director, Northeast Region Practice Leader

JAM YAP
Assurance Director; Southeast Region Practice Leader
 

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