New Questions on the 2023 Form 5500

The IRS Form 5500 is an annual return that is filed for most qualified retirement plans. Here are a few new items you may notice on the form for plan years that began in 2023. Participant count has been expanded for defined contribution plans. The large plan audit...

A Refresher on RMDs

Although required minimum distributions (RMDs) are now mandatory components of tax-deferred retirement plans, this was not always the case. RMD rules began to apply to qualified plans following the Tax Reform Act of 1986, after policy makers noticed that retirement...

Is Automatic Enrollment Required for Your Plan?

An automatic enrollment provision can be a useful tool to drive employee engagement in plans, particularly for participants who otherwise have not yet considered their retirement situation. These provisions allow an employer to withhold deferrals from the employee’s...