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  • Internal Revenue Service Announces COLA Increases for Retirement Plans for Tax Year 2015

     Highlights of the Adjustments:

    • Deferral Limit -- The elective deferral limit for 401(k), 403(b), and 457(b) plans increased from $17,500 to $18,000, and the catch-up limit increased from $5,500 to $6,000.
    • Annual Addition Limit -- Defined Contribution plan limitations under Section 415(c)(1)(A) is increased from $52,000 to $53,000.
    • Pension Compensation Limit -- The annual compensation limit (compensation that counts for pension and profit sharing purposes) under Sections 401(a)(17) is increased from $385,000 to $395,000.
    • HCE Compensation Cutoff --The limitation in the definition of highly compensated employee under Section 414(q)(1)(B) is increased from $115,000 to $120,000.

    Our experienced attorneys can answer any questions that you may have. Please email Nik Westfield at nwestfield@maselanjones.com with any inquiries.
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  • ERISA Turns 40

     The Employee Retirement Income Security Act (ERISA) was signed on Labor Day in 1974. Happy 40th, ERISA!
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  • Internal Revenue Service Announces Cost of Living Adjustments for Certain Retirement Options for Tax Year 2012

     Highlights of the Adjustments:

    • Deferral Limit -- The elective deferral limit for 401(k), 403(b), and 457(b) plans increased from $16,500 to $17,000.
    • Annual Addition Limit -- Defined Contribution plan limitations under Section 415(c)(1)(A) is increased from $49,000 to $50,000.
    • Pension Compensation Limit -- The annual compensation limit – compensation that counts for pension and profit sharing purposes -- under Sections 401(a)(17) is increased from $245,000 to $250,000.
    • HCE Compensation Cutoff --The limitation in the definition of highly compensated employee under Section 414(q)(1)(B) is increased from $110,000 to $115,000.

    Our experienced attorneys can answer any questions that you may have. Please email Kiersten Abate at kaabate@maselanjones.com with any inquiries.
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  • Advising a Massachusetts Business Released

     Advising a Massachusetts Business, which is the third installment in the Massachusetts Business Lawyering series, has just been released by the MCLE. This publication features a chapter on Employee Stock Ownership Plans, authored by our own W. Terence Jones.

    It contains practical information on issues business lawyers are likely to encounter when providing counsel to their clients, including protecting proprietary information; real estate, environmental, and antitrust considerations; and ethical matters in legal representation.
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  • Latest Edition of Ethical Lawyering in Massachusetts Released

     The latest edition of Ethical Lawyering in Massachusetts has just been released by the MCLE. It contains valuable information on lawyers' duties to courts, colleagues, clients and themselves, and features a chapter on Ethical Issues For Business Lawyers by our own W. Terence Jones.
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