Review Your Plan's 2016 Annual Plan Report

To access your plan's Report for 2016, which provides a snapshot of key plan census and contribution data, log in to our plan sponsor website and go to Tools>Reports>View Reports. This Report is also an excellent resource to fine-tune your employee communications strategy.



The IRS is Getting Closer to Releasing The Approval Letters for 403(b) Plan Documents

On January 13, 2017 the IRS announced that the last day of the Remedial Amendment Period for 403(b) plans is March 31, 2020. Plan Sponsors will have to restate their existing 403(b) Plan onto an IRS pre-approved Plan Document by this date.

The pre-approved plan documents have not yet been made available by the IRS. As previously communicated, PlanConnect will be contacting you upon receiving the IRS approval letter for the plan documents that we will make available to our clients.

To read more about the remedial amendment period for 403(b) plans, click here.



2017 Contribution and Benefit Limits for Retirement Plans

As a reminder, contribution limits generally remained the same as 2016. The only exceptions were the increase in the annual compensation limit to $270,000 and the overall maximum contribution limit for the combined employee elective deferral and employer contributions, which was increased to $54,000. You can access the IRS contribution limits by clicking here.

To assist with employee education, we have created an article detailing the contribution limits for 2017 designed to encourage your employees to participate and / or increase their contributions under your retirement plan. This is not required by the IRS, but does help to raise awareness among your employees.

If you choose to distribute this information to your employees, you may do so by providing them with the following URL:

www.planconnect.com/documents/2017-contributions.pdf



To learn more about these topics visit our ConnectNow page. Please contact your Relationship Manager or PlanConnect (800-923-6669; info@planconnect.com) if you have any questions.

PlanConnect, LLC is a wholly owned subsidiary of AXA Distribution Holding Corporation, an indirect subsidiary of AXA Financial, Inc. PlanConnect® Connect2Remit®, Connect2Comply®, Connect2Maintain®, and Connect2Achieve® are registered service marks of AXA Distribution Holding Corporation. PlanConnect may not be available in all states. AXA Financial, Inc. and its family of companies do not provide tax advice. Please consult with your tax advisor regarding your particular circumstances. Each company is affiliated. AXA Distribution Holding Corporation and AXA Financial, Inc. are located at 1345 Avenue of the Americas, New York, NY 10105, (212) 544-1234.

PlanConnect, LLC is located at 100 Madison Street, Syracuse, NY 13202, (800) 923-6669.

This message is not intended to convey legal or tax advice, nor can it be used to avoid the payment of income taxes or penalties assessed by any US tax authority.