2018 259 259
Upcoming compliance deadlines for calendar-year plans (12/31) you should know.
2018 411 411
It’s the time of year when Plan Sponsors scramble to deliver the myriad notices required to be given to their participants. Even with the help of service providers, the sheer number of notices can be overwhelming.
2018 302 302
Earlier this year, the Bipartisan Budget Act of 2018 was passed by Congress and signed into law. While this law made several changes that impact retirement plans, one provision changing the rules around hardship distributions is particularly notable. As a result of the act, changes to the hardship distribution rules for 401(k) plans will take effect for the 2019 plan year (e.g., as of January 1, 2019, for calendar year plans).
2018 351 351
Many American workers participate in company retirement plans, methodically contributing to their accounts over time to fund for life after work. Beyond benefiting from employer-funded plans, retirees commonly draw from additional savings tucked away in IRAs or after-tax savings accounts as well. Add Social Security payments to the mix and it should be a recipe for a secure retirement, right?
2018 290 290
Being a plan sponsor comes with a good bit of responsibility. You’ve taken the important step of hiring a third-party administration firm to help you navigate the myriad of processes that are required to keep your plan in compliance with applicable regulations.
2018 921 921
Maintaining a retirement plan for your employees is no easy task. At various points during the year, employers and HR departments field participant questions, help with enrollments, deliver notices and statements, and participate in the distribution process.
2018 363 363
If your company has decided to offer a high deductible health plan, don’t worry, you are not alone. Recent studies show that an increasing number of employers have elected to offer high deductible health plans (HDHP) either to completely replace or be offered in conjunction with a more traditional Health Maintenance Organization (HMO) plan or Preferred Provider Organization (PPO)
2018 316 316
The first quarter of the calendar year typically sees an uptick in the number of retirement plan distributions and participant loans. This year may be even busier than most, given the relief announced by the IRS for victims of the recent hurricanes and wildfires. Whatever the reason, participant distributions present a complex set of rules for Plan Sponsors to navigate.
2018 295 295
After many rounds of negotiations, Congress passed the Tax Cuts and Jobs Act on December 20th, 2017. Though retirement plan limit reductions were included in many iterations of the bill, the ultimate effect on qualified plans was relatively minimal.
2017 259 259
Millennials. You may have noticed them around the office. You might think of them as the lazy, flighty, entitled generation born between the early 80's and 00's that say "totes" when they agree with you. Like any group of misplaced stereotypes, not all is as it appears when it comes to the younger contingent and, since they are taking over as the largest sector of the workforce, you may want to take a second look at them as adults, assets, and major contributors to your company's retirement plan.