Managing the Inevitable

June 14, 2016    2499    2499   

This month's newsletter is all about "Fun with Forfeitures." Can forfeitures be fun? Does alliteration - finagling forfeitures, fooling around with forfeitures, finessing forfeitures - make it more fun than it really is? Probably. But for businesses managing retirement plans, forfeitures (when a plan participant forfeits a non-vested portion of his or her account) is essentially inevitable.

Getting It Right: Your Form 5500

April 12, 2016    3338    3338   

If your business offers a 401(k) plan—or another type of qualified retirement plan—you have been completing and submitting a 5500 form every year since the plan was initiated. And every year the IRS, the Department of Labor and the Pension Benefit Guaranty Corporation use the information contained in the 5500 to assess your plan’s compliance and its ability to protect the employees who are contributing.

Part-Time Employees in 401(k) Plans

February 9, 2016    3484    3484   

Part-time employees may play an important role in your business, which can be a good thing for your bottom line - and can allow welcome flexibility for your employees, too. Many companies, from manufacturing to health care, are reaping the benefits of a multifaceted work force.

Determining Retirement Plan Compensation

December 17, 2015    2826    2826   

It might not surprise you to hear that the IRS has some fairly complicated rules governing compensation levels and retirement plan contributions. In fact, the IRS reports that a good number of plan sponsors get this key issue wrong - a mistake that can cost both time and money.

A Plan Fiduciary's Responsibilities

October 20, 2015    2876    2876   

The term “fiduciary” gets used a lot these days; sometimes, we suspect, without a true understanding of what the term means and how fiduciary responsibility applies to our industry. It’s a corner of the retirement plan industry that can be a little murky.

The IRS is Back with Some Brand New Corrections

September 9, 2015    2566    2566   

When we work with you as your third-party administrator, we commit to keeping your retirement plan compliant and error-free. And we take that commitment seriously. But as the saying goes, mistakes happen, even with the best intentions and cross-check systems in place. And there are more than a few challenges to keeping a retirement plan on the rails and moving forward. IRS compliance is one sure way to avoid running off the track. 

The Best Plan to Drive Your Retirement Needs

June 1, 2015    2936    2936   

Excuse me, can you tell me what kind of car is best for me? It is impossible to answer that question without getting more information…how will the car be used? The same is true when selecting a retirement plan.

Timing is Everything

February 1, 2015    2945    2945   

As you can see, trying to keep track of all these overlapping deadlines can be as challenging as following Abbot and Costello's "Who's On First?" routine (if you aren't familiar with it, it's worth the time to look it up online).

Hardship Distributions from 401(k) Plans

October 1, 2014    2840    2840   

Hardship distributions are a valuable component of many 401(k) plans.

Cross-Testing: The Right Tool for Many Jobs

August 1, 2013    2775    2775   

A well-designed cross-tested plan can be a very effective tool for satisfying a variety of company objectives, but it also comes with a few more moving parts.