401(k) News

  • RECENT developments fall 2017

    Social Security Update, Putting Off Retirement, Views on Retirement Plans Read More…

  • Retaining Plan Records

    As a plan sponsor, you know that you have significant reporting and disclosure responsibilities under the pension law (ERISA). Additionally, ERISA requires plan sponsors to retain broad categories of records related to meeting those responsibilities. To do so, a plan sponsor should understand the applicable rules and put in place a record retention policy governing how it periodically reviews, updates, preserves, and discards documents related to plan administration. Read More…

  • New Proposal for Employee Benefit Plan Audits

    The Auditing Standards Board of the American Institute of Certified Public Accountants recently issued a pro-posed Statement on Auditing Standards (SAS) that, if adopted, would affect audits of employee benefit plans subject to the pension law (ERISA). Read More…

  • Which Retirement Plan Fits Best?

    You want to make sure that your company's retirement plan accomplishes the goals you have for it. But selecting the right plan isn't always easy. There are a number of options to choose from, including 401(k), SEP (Simplified Employee Pension), SIMPLE (Savings Incentive Math Plan for Employees), and profit sharing plans, among others. The following is some general information about how these plans operate that may be useful to employers who are considering changing plans or adding a plan. Read More…

  • RECENT developments summer 2017

    Workers Stressed about Retirement, Increase in Retirement Assets, IRS Clarification on Loan Amounts Read More…

  • Using EPCRS To Fix Plan Errors

    The IRS developed the Employee Plans Compliance Resolution System (EPCRS) to help plan sponsors avoid plan disqualifications by making it easier for them to correct a wide variety of retirement plan qualification failures. If plan sponsors follow the established guidelines, they may be able to bring their plans back into compliance without losing valuable tax benefits. Read More…

  • Documenting Hardship Distributions

    The IRS recently published a memorandum outlining new audit procedures for use by agents verifying whether a plan has followed proper substantiation procedures for safe harbor hardship withdrawals. Plan sponsors may want to review these procedures to anticipate later possible objections to their hardship withdrawal programs. Read More…

  • Should You Consider a Safe Harbor 401(k)?

    A safe harbor design allows a 401(k) plan to avoid annual nondiscrimination testing of employee elective contributions and employer matching contributions. If you are thinking of implementing a safe harbor 401(k) plan, the overview that follows may prove useful in your decision-making. Read More…

  • Alignment of Wealth and Health ... The 401(k) and HSA

    By Todd Kittell

    As an independent third party administrator (TPA), we are often asked by advisers to comment on emerging trends in the industry. One recent trend that is getting a significant amount of attention is the alignment of wealth and health. Specifically 401(k) Plans and HSAs and how this impacts the role and opportunity for financial advisers. Read More…

  • RECENT developments spring 2017

    IRS Proposal for Plan Forfeitures, Retirement Health Expenses, Fairly Confident for Retirement Read More…

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