by Robert Brierre | Sep 25, 2023 | Uncategorized
As situations arise during the plan year, it’s always better to double check the plan provisions rather than address a plan failure after the fact. In some situations, it’s easier to ask for forgiveness rather than permission, but that isn’t true in retirement plans....
by Robert Brierre | Sep 25, 2023 | Uncategorized
The Employee Retirement Income Security Act (ERISA) requires coverage to protect the plan from losses due to fraud and dishonesty. There are three main types of bond coverage for retirement plans: fidelity bonds, fiduciary liability insurance, and cyber liability...
by Robert Brierre | Sep 25, 2023 | Uncategorized
May 15thQuarterly Benefit Statement – Deadline for participant-directed plans to supply participants with the quarterly benefit/disclosure statement including a statement of plan fees and expenses charged to individual plan accounts during the first quarter of...
by Robert Brierre | Sep 25, 2023 | Uncategorized
Defined Contribution plans: Form 5500 news! Effective for plan years beginning on or after January 1, 2023, the determination of a large or small plan will be based on the number of participants with an account balance as of the beginning of the year, rather than the...
by Robert Brierre | Sep 25, 2023 | Uncategorized
As part of the enrollment process, participants are asked to elect a beneficiary. However, this step is often not completed or kept up to date as time goes on, which can make death distributions more complicated than they need to be. When a participant names a...
by Robert Brierre | Sep 25, 2023 | Uncategorized
As a plan sponsor, do you feel your employees have a clear understanding of the company’s retirement plan? Do most utilize it as a tool to save for retirement—and, if not, do they understand the benefit that they are missing? According to the 2022 PLANSPONSOR...
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