401(k): A to Z

December 9, 2016    1464    1464   

Although it's certainly true that not enough Americans are saving for retirement, it's also true that the many millions who are saving do so through an employer-sponsored defined contribution 401(k) plan. And as you may well know, 401(k) plans tend to generate a considerable amount of financial activity. The mobility of today's workforce means employees often request distributions when they move from one employer to another. Rollovers are common, too, as are hardship withdrawals.

Keeping Abreast of Plan Loan Rules

October 17, 2016    1071    1071   

The first question on many FAQs for 401(k) plans is: How do I borrow from my plan? But just because the question is often asked, doesn’t mean the answer is simple.

DOL Issues New Fiduciary Rule

August 16, 2016    1057    1057   

The Employee Retirement Income Security Act of 1974, also known as ERISA, helps protect those saving for retirement by mandating certain fiduciary responsibilities of those working in the retirement plan industry. In April 2017, the rules governing those responsibilities will change. Will you be ready?

Managing the Inevitable

June 14, 2016    2715    2715   

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    3633    3633   

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    3763    3763   

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    3067    3067   

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    3164    3164   

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    2805    2805   

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    3185    3185   

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.