Ask the Experts

Question: When is my 2019 employer contribution due to be funded to our plan? Answer: For deduction purposes, the general deadline for all employer contributions for a plan year is the tax return deadline for the company including extensions. For most entity types,...

Understanding the CARES Act

On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a massive relief bill for those suffering as a result of the Coronavirus pandemic, was signed into law. Besides the generalized financial relief afforded to individuals, as...

Upcoming Compliance Deadlines

February 202028thForm 1099-R – The Form 1099-R is due for any distributions that occurred during the 2019 calendar year. Note: Participant Loans that are in default may be considered “deemed” distributions and are reportable on Form 1099-R.March 202015thADP/ACP...

How the SECURE Act is Changing Retirement

On December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law. The SECURE Act represents some of the most significant changes to retirement plan law since the passage of the Pension Protection Act of 2006, over...

The Final Rule on Hardship Distributions

On Sept. 23rd, the IRS published a final rule that relaxes several existing restrictions on participant hardship distributions from defined contribution plans. Some of these changes are mandatory, requiring employers to make the changes by Jan. 1st, 2020, while others...