Succession planning is a critical aspect of managing small, closely held businesses, as the unexpected departure of a key leader can significantly disrupt operations and challenge the business's legal...
Entering into a letter of intent for an office lease agreement? Consult our playbook for valuable key provisions, alternative language provisions, and guidance for both landlords and tenants. Download...
In the complex world of M&A transactions, transition services agreements (TSAs) serve as critical bridges between deal closing and operational independence thus creating stability during organizational...
This practice note covers key legal and regulatory issues to evaluate, questions to ask, and documents to review in medical device or diagnostic technology deals, including M&A, investments, financings...
For plan years beginning in 2026, higher-compensated participants (not highly compensated employees under Section 414(q)) in 401(k) plans and salary reduction 403(b) plans will not be allowed to make catch-up contributions on a pre-tax basis. But they will be permitted to make them to a designated Roth account up to the applicable catch-up limits. The restriction applies to individuals whose FICA wages for the preceding calendar year paid by the plan sponsor exceed $145,000 (to be indexed for inflation). It is anticipated that plans must have (or will need to add) a Roth feature to take advantage of the rule. Another Roth rule is already effective. In and after 2024, plan sponsors of defined contribution plans can include an emergency savings account provision in their plans for non-highly compensated employees (NHCEs). This feature allows NHCEs, if they choose, to contribute up to $2,500 to an emergency subaccount, called a pension-linked emergency savings account (PLESA), but only on a Roth basis. So, get ready for the Roth!
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