IRS (finally!) Provides Clarity for Mid-year Changes to Safe Harbor Plans
On Friday January 29, the IRS issued Notice 2016-16 which offered the long-awaited guidance on mid-year amendments to 401(k) and 403(b) plans with a safe harbor feature. It substantially softened the IRS prior stance which, with limited exceptions, disallowed mid-year plan modifications if a plan wanted to rely on the safe harbor status in the […]