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Newsletters

Safe Harbor 401(k) Plan Design

Being the bearer of bad news isn’t fun.

When the third-party administration firm relays that aspects of the annual compliance testing have failed causing many of the company’s executives to receive taxable distributions from the plan, it isn’t a great day for the HR manager.

IRS Announces Limits for 2020

On November 6th, 2019, the IRS announced the cost of living adjustments affecting the dollar limitations for retirement plans.

Contribution and benefit increases are based on a calculated change in the Consumer Price Index and are intended to allow participant contributions and benefits to keep up with the “cost of living” from year to year.

It's All in the Design...

For many new Plan Sponsors, and even those savvy at running company retirement plans, understanding plan design can be daunting. Industry terminology, IRS code sections, and complicated illustrations can make understanding difficult.

Bucket List: Retirement

The economy continues at its strong pace, keeping unemployment at its lowest rate in nearly 50 years. While this is usually good news, employee financial vulnerability is clouding this sunny forecast. The repercussions are impacting their ability to save for retirement.

Complying with Safe Harbor Deadline

All 401(k) plan contributions have deposit deadlines, and it’s up to 401(k) fiduciaries to meet them. Yet, many are unclear about the deadlines applicable to their 401(k) plan. That confusion can easily lead to late contributions.

Protect Your 401(k)

Though some employers may not think so, the truth is that in today's world 401(k) plans are subject to fraudulent activity and that the often-overlooked retirement plan can be the perfect place for it to occur. 

Automatic Enrollment is on the Rise

With the future of Social Security in question, it is becoming ever increasingly important for workers to self- prepare for post-retirement living.

The 401(k) Turns 40

In 2018, the 401(k) plan celebrated its 40th birthday! Though extremely popular today, 401(k) plans came about almost by accident. 

Know Your Options

If your plan offers a Roth 401(k) provision, your participants might ask, “Which one is better for me?” As the availability of Roth options in 401(k) plans and Roth contribution percentages continue to rise, it’s important to be able to guide participants in making the right choice.

It's Testing Season!

Qualified plans must perform annual testing to be sure that the plan doesn’t unfairly discriminate in favor of "highly compensated employees" (HCEs) or exceed the contribution limits set forth by the IRS. Depending on your plan provisions, it isn’t just one calculation, but a series of tests that show that your plan is not discriminatory. If your plan is audited, the auditor is looking for proof of this compliance.

About SI GROUP

Trust. Integrity. Expertise. Those are some of the reasons SI GROUP Certified Pension Consultants is Hawaii's largest third-party administration (TPA) firm for tax-qualified retirement plans. We’ve been in this business for over 35 years and we administer approximately 925 profit sharing, 401(k), money purchase, 403(b), Cash Balance and traditional defined benefit pension plans for 25,000 participants. The total value of assets in these plans exceeds $2.8 billion.

Contact Us

SI GROUP Certified Pension Consultants

1299 South Beretania Street
Suite 315
Honolulu, Hawaii 96814

Tel: 808.748.7700
Fax: 808.748.7799