Types & Qualifications

While many limits remained the same as 2016, some were raised to reflect cost-of-living increases.

The IRS extended a relief provision that allows sponsors of closed defined benefit plans to comply with the nondiscrimination rules of Sec. 401(a)(4).

The Irs issued new rules giving retirement plan participants greater flexibility in choosing how to receive their pension benefits.

Employee benefit plans will face new reporting requirements under extensive changes to Form 5500, Annual Return/Report of Employee Benefit Plan, proposed by the federal government.

The IRS explained how to calculate the investment in the contract for retirement benefits distributed while the employee is still working part time and that nonqualifying contracts could not take advantage of the same rules.

The regulations allow taxpayers to allocate pretax amounts to direct rollovers, rather than having to make pro rata allocations.

Because of low inflation this year, many limits remain unchanged, but some are increasing.