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Article: Updated 401(k) rules make good sense' for plan sponsors.
- Article from:
- Employee Benefit News
- Article date:
- September 15, 2003
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Retirement plan sponsors can breathe a sigh of relief. Although the IRS and Treasury Department in July released new proposals for administering 401(k) plans, there appears to be little in the 221-page document that will make plan sponsors' daily lives significantly more difficult. If anything, experts say, the regulations mainly tie up loose ends since the agencies last issued guidelines in 1994.
"Most of [it is] clarifications about what many plan sponsors are already doing and updated guidance to laws already passed," says Lynn Dudley, vice president of senior counsel for the American Benefits Council. "There are some new features to be aware of, but overall ...